STATE TAX KNOWLEDGE UPDATE (59 ITEMS) - JUNE 11, 2018

The following are state tax and business developments I have curated since May 22nd, 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.

1. California proposes to amend entity classification rules; comments due June 26

2. Delaware qui tam case against gift card retailers moves forward

3. Colorado Market-Based Sourcing Legislation Goes to Governor

4. California Launches Online Directory of Business Incentives

5. Tennessee Decouples From Business Interest Deduction Limit

6. Louisiana Governor Proposes Tax Cuts, Elimination of Deductions

7. Minnesota Governor Vetoes Omnibus Tax Legislation

8. Missouri Lawmakers Approve Corporate Rate Cut, Apportionment Changes

9. 2018 State Tax Amnesty Programs (as of 5 25 18)

10. California FTB holds interested parties meeting regarding significant proposed revisions to its market-based sourcing rules

11. The SALT Deduction Limit: The IRS Responds to State Workarounds

12. Online Travel Companies Are Not Liable for Local California Hotel Tax

13. Hawaii Use Tax Held Constitutional

14. TaxDay becomes official MLB Players Association partner

15. IRS Discusses Certain Payments Made in Exchange for State and Local Tax Credits

16. California FTB Provides TY 2017 Filing Guidance Regarding IRC Section 965 Repatriation Transition Tax

17. New Louisiana Law Revises Due Date for Filing Corporate Franchise Tax Returns

18. Maine Revenue Services Comments that Amended Returns May be Necessary Given State Nonconformity to Recent Federal Tax Law Changes

19. Michigan Appellate Court Affirms that Holding Company Lacks Requisite Nexus for City of Detroit Income Tax Purposes

20. New Jersey Appellate Court Affirms Lower Court Decision Involving Unreasonable Exception to CBT Intercompany Expense Addback Rule

21. New Tennessee Law Includes Delayed Decoupling from New Business Interest Limitations under IRC Sec. 163(j)

22. Hawaii State High Court Upholds Validity of Use Taxation Scheme on Purchases from Out-of-State Sellers

23. Washington DOR Advisory Explains that Retailer’s Enhanced Delivery Services May Create Nexus

24. Corporate Close-Up: No More Passing Through In Connecticut and New York?

25. Georgia Property Tax Appeal Thresholds Decreased

26. Delaware Creates Angel Investor Credit

27. Georgia Creates Additional High-Technology Exemption

28. Governor Signs Iowa Sales and Use, Excise Tax Reform Legislation

29. Iowa Enacts Major Income Tax Reform

30. Connecticut Enacts Pass-Through Entity Income Tax

31. Montana Adopts Pass-Through Entity Apportionment Rules

32. Connecticut enacts responses to federal tax reform

33. California FTB Now Permitting Taxpayers to Make Oral Presentations in Staff-Initiated Alternative Apportionment Proposals

34. Michigan Department of Treasury Issues New Bulletin on UBG Including Control and Relationship Tests

35. Pennsylvania DOR Issues Ruling on New Law that Imposes Information Reporting and Notice Requirements

36. New York Tax Appeals Tribunal Reverses ALJ to Hold that Taxpayer’s Transactions Must be Aggregated and Thus Subject to Tax

37. Enacted Kentucky Legislation Provides for Mandatory Combined Reporting for Unitary Businesses and Additional Sales Tax Changes

38. Alabama DOR Issues Guidance Regarding IRC Section 965 Deemed Repatriation Impact on Taxpayers

39. Iowa enacts significant income tax and sales tax changes

40. Legislative Session Review: Iowa

41. Oregon's research credit sunsets - Opportunities for 2017 tax year

42. Missouri reduces rate, adopts single factor and market sourcing, more

43. LINK TO IOWA TAX REFORM WEBSITE CREATED BY IOWA DOR

44. Iowa Governor Signs Tax Reform & Conformity Bill

45. Wayfair Debated at Georgetown SALT Conference

46. State Impacts of TCJA Analyzed at Georgetown Conference

47. Missouri Enacts Corporate Tax Rate Cut and Apportionment Changes

48. Sales Thresholds Trigger Sales Tax Nexus in Illinois

49. Michigan Updates Unitary Business Group Guidance

50. Colorado Enacts Market-Based Sourcing

51. Connecticut Explains Repatriation Transition Tax Reporting

52. New Colorado Law Imposes Market-Based Sourcing Provisions for Certain Receipts from Services and Intangibles

53. New Connecticut Law Makes Various Changes in Response to Federal 2017 Tax Act

54. Kentucky DOR Explains New Law that Includes Mandatory Unitary Combined Reporting Regime and Market-Based Sourcing

55. Michigan Department of Treasury Comments on Federal 2017 Tax Act

56. Montana DOR Issues New Regulations on the Apportionment and Allocation of Income Reported by Pass-Through Entities

57. New Illinois Law Imposes Remote Seller Tax Collection and Remittance Responsibilities via Economic Nexus Provisions

58. New Iowa Law Imposes Economic Nexus

59. Recent Idaho Law Amendments Provide Income Tax Rate Reductions and Amend IRC Conformity

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.