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Income Taxes | 9 Months Ended
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Sep. 30, 2024
Income Tax Disclosure [Abstract] |
Income Taxes | 5. Income Taxes The Company files income tax returns for its subsidiary Merus US, Inc. in the U.S. federal and Massachusetts jurisdictions as well as for the Company in the Netherlands. The components of the income tax expense (benefit) from continuing operations are as follows:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
|  | (in thousands) |  |  | (in thousands) |
U.S. federal |  | $ | 2,434 |  |  | $ | (871 | ) |  | $ | 4,385 |  |  | $ | 580 |
U.S. state |  |  | 837 |  |  |  | (366 | ) |  |  | 1,644 |  |  |  | 235 |
Total current income tax expense (benefit) |  | $ | 3,271 |  |  | $ | (1,237 | ) |  | $ | 6,029 |  |  | $ | 815 |
U.S. federal |  | $ | (208 | ) |  | $ | 1,665 |  |  | $ | 257 |  |  | $ | 947 |
U.S. state |  |  | (86 | ) |  |  | 690 |  |  |  | 106 |  |  |  | 393 |
Total deferred income tax expense (benefit) |  | $ | (294 | ) |  | $ | 2,355 |  |  | $ | 363 |  |  | $ | 1,340 |
Total income tax expense (benefit) |  | $ | 2,977 |  |  | $ | 1,118 |  |  | $ | 6,392 |  |  | $ | 2,155 |
After consideration of all positive and negative evidence, we believe that it is more-likely-than-not that the Netherlands deferred tax assets that are not supported by reversing temporary differences, will not be realized. As a result, we established a full valuation allowance against deferred tax assets of the Netherlands. Under Dutch tax law, net operating loss carryforwards may be used to offset future taxable income in full up to €1.0 million and 50% of taxable income that exceeds €1.0 million. Effective as of January 1, 2022, these losses can be carried forward indefinitely.

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