I hope you are having a great holiday season and are remaining calm and enjoying it. I know it isn't easy. So many things going on this month and then trying to get work done, and the constant tax reform talk providing uncertainty. BUT it will calm down at some point. Just remember, life is too short to stress about things that don't really matter. The key is knowing what matters and what doesn't - that is true for both work and in life. As they say, "don't major in minors."
The following are state tax and business developments I have curated since November 18, 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.
Weekly Round-Up: News from MTC’s National Conference
A presentation on Residence and Domicile -Principles and Practice
Pennsylvania Issues Guidance on NOL Deduction
Connecticut to Implement App and “Cookie” Nexus
New York Denied Deduction for Rental Losses
Small-Business Owners Allege Tax Plan Bias
Taxes Intercept Millions From NFL Players’ Salaries
Corporate Close-Up: Utah Clarifies Definition of Foreign Operating Companies and Rules on Inclusion of Proceeds from Buy-Sell Agreements in Receipts Factor
California Competes tax credit program - $100 million in tax credits available
Pennsylvania - Refund limitation period starts when liability fully paid-in
Practice and Procedure: California Tax Appeals Office Races to the Finish Line on Finalizing Procedure Rules
New Jersey – No addback for worldwide income; treaty protections respected
Illinois Franchise Tax Relief on the Horizon
Massachusetts Denies Sales Factor COP Determination
Sale of Business Excluded From Sales Factor on California Return
Global Talks on Taxing Digital Economy a Worry for U.S.
Pennsylvania Supreme Court holds statute of limitations for corporate tax refunds is three years from the original due date of a return
Rhode Island's tax amnesty program begins December 1, 2017
State Income Tax Implications of Base Broadening Components of House and Senate Tax Reform Bills
2017 Interim Report on State Taxation
California FTB Chief Counsel Ruling Addresses Whether Sales from Certain Business Divestures Can be Excluded from Sales Factor
California FTB Issues Proposed Regulations on How Credits are Allocated Among Members of Combined Reporting Group when Defective Election Occurs
New Connecticut Law Postpones Start of Claimant Period for Combined Reporting-Related ASC 740 Deduction
Virginia Department of Taxation Ruling Holds that Online Marketplace Operator is Not a Dealer for Sales Tax Collection and Remittance Purposes
New York Appellate Court Holds that Purchased Competitor Pricing Reports are Information Services that Qualify for Exclusion
Illinois - right to tax refund cannot be assigned to third-party lenders
Indiana Tax Court rules on sourcing of online educational service
KEEP WATCH ON MTC Use Tax Information Reporting Work Group
Rhode Island Division of Taxation Issues Guidance on Amnesty Program that Began December 1
California FTB Explains Application of Throwback Rule to Taxpayer Filing Certain Gross Receipts-Type and Franchise Tax Returns
Colorado Appellate Court Affirms that Domestic Subsidiary Holding Company Owning Stock in Foreign Entity is Not Required to be Included on Combined Return
Indiana Tax Court Rejects DOR Attempt to Source Receipts from Online Revenue Based on Location of Market
Washington Adopts Business and Occupation Tax Rule for Apportioning Financial Institution Income
Federal Courts Determine OTCs’ Service Fees not Subject to Hotel Occupancy Taxes - Horwood Marcus & Berk
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.