The following are state tax and business developments I have curated since March 13th, and posted in the LEVERAGE SALT LinkedIn group:
Some of the items may be on the same state/issue/topic, but they are from different sources which may give you a broader perspective to help your company or client.
Idaho Enacts Tax Reform Legislation
Washington Revises Nexus Rules
California Issues Notice Regarding Processing Docketed Protests
Vermont Gives Income Tax Nexus Examples
Wyoming Exempts Cryptocurrencies
New Idaho Law Generally Updates State Conformity to IRC and Selectively Updates Conformity to Some Federal Tax Code Provisions and Decouples from Others
Idaho State Tax Commission Grants Taxpayer Request for Use of Alternative Apportionment Method on Gain from Sale of LLC Interest
North Carolina DOR Explains Classification as a Holding Company for Franchise Tax Purposes and Qualifying for 150K USD Tax Liability Cap
Receipts from Service Contracts Must be Sourced In-State for CAT Purposes Because Underlying Property Tied to Services is Located in Ohio
Vermont Department of Taxes Issues Nexus Bulletin Including List of Nexus-Creating Activities
Case Challenging Economic Presence Administrative Rule is On Hold Pending the Outcome of US Supreme Court Litigation Involving Quill Physical Presence Standard in Tennessee
Washington DOR Issues Regulatory Amendments Reflecting 2017 Legislation that Expands Business and Occupation Tax Economic Nexus Provisions
State Tax Reform Opportunities and Challenges: The STAR Partnership
Business Income Tax Collections FF(3.19.2018)
Emergency Regulations Adopted for Appeals From CDTFA
Preliminary CA Report on IRC Conformity Revised
New York Allows Withdrawal of Group Election in Some Cases
California Releases Summary of 2017 Federal Legislation
Utah Enacts Tax Rate Cuts, Single Sales Factor Apportionment
Florida Enacts IRC Conformity, Rate Reduction
Virginia Court Confirms “Subject to Tax” Exception Decision
Individual Income Insights: Highlights of the ABA and IPT Advanced Income Tax Conference in New Orleans
Extras on Excise: U.S. Supreme Court to Decide Whether to Review Loudoun County BPOL Case, Possibly Adding a Second Major State Tax Case to its Docket
New York allows withdrawal of certain combined elections by June 1
Florida updates conformity to IRC; rate reduction possible
New Florida Law Updates State Conformity to IRC, Extends Bonus Depreciation Decoupling, and Includes Contingent Corporate Income Tax Rate Reductions
New Georgia Law Decouples from 2017 Tax Reform Act’s GILTI Provisions
New Idaho Law Generally Updates State Conformity to Federal Bipartisan Budget Act of 2018
Illinois DOR Discusses Recently Enacted Federal Tax Reforms - Specifically State Reporting Requirements Involving the New Foreign Income Deemed Repatriation Transition Tax
New Jersey Tax Court Reaffirms that Tech Company Foreign Source Income that is Not Taxable for Federal Purposes is Not Taxable under CBT
Memo Explains Limited-Time Withdrawal Procedure from Some Commonly Owned Group Elections in New York
Utah New Law Permits Corporations to Pay Tax on IRC Sec 965 Deferred Foreign Income in Installments, Lowers Corporate Tax Rate, and Expands Mandated Single Sales Factor Apportionment
Virginia Supreme Court Holds that Intercompany Royalty Payments Must be Taxed in Another State to Qualify for Subject-to-Tax Addback Exception Once More
New Idaho Law Imposes Remote Seller Click-Through Nexus Provisions
Indiana New Law Provides that Remote Access Software is Not Subject to Tax
Louisiana Trial Court Holds that Online Marketplace Facilitator Must Collect Local Sales and Use Taxes on Third-Party Retailer Online Sales
Arizona Changes Multistate Service Provider Apportionment Rules
Illinois Proposes Addition Adjustment for FDII and GILTI
Alabama Changes Income Tax Filing Thresholds
Oklahoma Caps Personal Itemized Deductions
Florida Enacts Tax Rate Reductions and Modifications
COST: Tennessee Testimony on Federal Tax Reform Conformity
New Hampshire’s Internet Sales Tax Fight Continues
New Wisconsin Law Updates State Conformity to IRC and Couples and Decouples from Various Provisions of the 2017 Federal Tax Reform Act
New Utah Law Revises Certain Single Sales Factor Apportionment Method Provisions
New Ohio Law Updates State Conformity to IRC
New York City Memo Explains Limited-Time Withdrawal Procedure from Some Commonly Owned Group Elections
New Arizona Law Includes Sales from Intangibles in Defining Multistate Service Providers that May Elect Use of Special Sales Factor Sourcing Provisions
Louisiana: Online marketplace provider required to collect sales tax
Legislative Session Review: Wisconsin
Wisconsin Tackles IRC Conformity
Arizona Updates IRC Conformity
Kentucky Governor Vetoes Major Tax Legislation
Corporate Close-Up: Alabama Pass-Through Entity Owners, Rejoice! Why You May be Entitled to a Refund for The 2013 Through 2017 Tax Years
The above represents 'general curating' of state tax developments into one spot. If you still feel overwhelmed by the volume of state tax developments, please consider my 'custom curating' service. Meaning, clients hire LEVERAGE SALT to daily curate state tax developments relating to a specific industry, state(s), tax type and issue. You can make it as granular as you prefer. This allows you to reduce information overload, and only get the information you need to help your clients or company. This service is provided on a fixed-fee or subscription basis. Contact me at strahle@leveragesalt.com.