The following are state tax and business developments I have curated since July 3rd, 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.
New Jersey Closes Loophole, Increases Multi-Millionaires Rate
Alabama Announces Guidance in Response to Wayfair Decision
Michigan Provides Further Guidance on Impact of Federal Act
Remote Sellers Will Have Wisconsin Tax Duties Beginning October 1
Indiana Updates Remote Seller Guidance
Indiana Explains Income Taxes on Overseas Earnings
Enacted Louisiana law addresses the timing of expiring corporate income tax provisions
California OTA Issues Updated Draft of Proposed Permanent Regulations on Administration and Procedures of Appeals and Petitions for Rehearing
Indiana DOR Bulletin Discusses Recently Enacted Legislation, Including State Impact of IRC Sec. 965 Repatriation Provisions, GILTI, and IRC Sec. 163(j)
Maine Revenue Services Explains Procedures for Filing and/or Amending Returns Given State’s Nonconformity to Recent Federal Tax Law Changes
Pennsylvania: Bulletin Reflects New Law Reversing DOR’s Previous Policy by Allowing for Depreciation of 100% Bonus Property
New Jersey: New Law Requires Amnesty Program with Potential Waiver of 100% Penalties and 50% Interest
Massachusetts Appellate Tax Board Holds that Taxpayer is a “Manufacturer” Required to Compute its Corporate Excise Tax Liability Using Single Sales Factor Apportionment
New Jersey: New Law Includes Mandatory Combined Reporting Regime, Market-Sourcing Provisions, CBT Surtax, and Responses to Some Provisions of the Federal 2017 Tax Act
New York: Appellate Court Affirms Tax Appeals Tribunal Ruling Addressing Bank’s Treatment of NOLs
Vermont: New Law Updates State Conformity to Internal Revenue Code; Responds to Some Provisions of the Federal 2017 Tax Act
Georgia DOR Explains Exclusion for Dividends from Sources Outside the US, Including Application of IRC Sec. 965 Provisions
North Carolina: New Law Modifies Sourcing Language for Receipts from Intangibles for Sales Factor Purposes
Oregon DOR Issues Administrative Rule on New State Repatriation Tax Credit Pursuant to IRC Sec. 965 Repatriation Income for Tax Year 2017
Connecticut Issues GILTI Guidance
North Carolina Changes Intangible Property Sourcing Rules
MTC Adopts Apportionment Regulation Amendments
Delaware Imposes Tax on Series LLCs
Utah Enacts Deferred Foreign Income Changes
Florida DOR Holds that Taxpayer May Include Certain Intercompany Sales with Foreign Affiliates in its Sales Factor
New Jersey Division of Taxation Explains Upcoming Amnesty Program with Potential Waiver of Penalties, Reduced Interest, and Non-Participation Penalties
Alaska: New Law Requires Public Utilities to Use MTC Three-Factor Apportionment Formula for Corporate Income Tax Purposes
Connecticut: New Guidance Issued on Treatment of GILTI for Corporation Business Tax Purposes
Minnesota DOR Discusses How 2017 Federal Tax Act May Affect Business Tax Returns for Tax Year 2018
Rhode Island DOT Comments on Some State Tax Impacts of the Federal 2017 Tax Act
Utah: New Law Clarifies Previously Enacted Legislation Involving IRC Sec. 965 Deferred Foreign Income, and Revises NOL Provisions
Rhode Island Adopts C Corp IRC Sec. 965 Regulations
California Taxpayer Cannot Force Retailer to Seek Sales Tax Refund
Minnesota Hosting SST Meeting to Discuss Wayfair
Maryland Issues Wayfair Guidance
Indiana Wayfair FAQ Page Talks Enforcement
SST Meets to Discuss Wayfair
Texas Provides Guidance on Wayfair Decision
Wayfair Decision Does Not Affect Rhode Island Remote Sellers
Minnesota Sets Remote Collection Date
Indiana Explains Impact of Wayfair
Nebraska Issues Guidance for Remote Sellers
Utah Enacts Economic Nexus Law
Alabama Explains Impact of Federal Tax Cuts and Jobs Act
Michigan Issues Sales Tax Economic Nexus Guidelines
MTC Adopts Two Amended Model Rules Pursuant to Section 18 Alternative Apportionment Regulatory Project
Alabama DOR Issues Preliminary Guidance on Some State Impacts of the Federal 2017 Tax Act
Delaware: New Law Imposes Annual Tax on State-Registered Series LLCs
Michigan Appellate Court Affirms Disallowance of MBT Modified Gross Receipts Tax Base Deduction for Purchased Services
Vermont Department of Taxation Issues Certain Guidance on Federal 2017 Tax Act, Specifically the Inclusion of IRC 965 Income on State Returns
Arkansas DFA Says Remote Sellers Should Register and Collect Tax Pursuant to Recent US Supreme Court Decision that Overrules Quill
Kentucky DOR Updates Post- Wayfair Comments; Announces October 1 Enforcement Date and Reiterates Prospective Implementation
Nebraska DOR Comments on Recent US Supreme Court Decision that Overrules Quill, Including January 1, 2019 Enforcement Date and Promise of “No Retroactivity”
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.