State Tax Knowledge Update (36 items) - November 18, 2017

The following are state tax and business developments I have curated since November 8, 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. $100 Million Available During Second Application Period in the California Competes Tax Credit Program’s Final Year

2. Tennessee Issues Notice on Intangible Expense Deduction

3. VERMONT BULLETIN: Corporate and Business Income Tax Nexus, Filing Requirements, and Minimum Tax Liability

4. Corporate Close-Up: Impending Federal Tax Reform and its Rippling Effect on State Corporate Taxation

5. Incentives Watch: Federal Tax Reform Pumps the Brakes on Electric Car Incentives; States Zoom Ahead

6. SALT Implications of the House and Senate Tax Reform Bill

7. Colorado Court of Appeals Held that Out-of-State Holding Company is Not Included in Combined Report

8. Watch Your Step: New York City Real Property Transfer Tax Imposed Under Step Transaction Doctrine

9. New California Office of Tax Appeals Discusses Emergency Regulations

10. Nice resource/summary for Tennessee taxes

11. Tennessee sales tax guide by TaxJar for online sellers

12. Rhode Island Division of Taxation Launches Website for Upcoming Amnesty Program that Begins December 1

13. Minnesota DOR Acquiesces to Recent Tax Court Ruling Involving NOL Carryovers and IRC § 382 Limitation

14. California FTB Issues Proposed Rule Changes on the Apportionment and Allocation of Partnership Income for Corporate Tax Purposes

15. Colorado Appellate Court Affirms that Foreign Subsidiary is Not Required to be Included on Combined Return

16. Oregon DOR Proposes Various Administrative Rule Changes, Including Reflection of New Law that Implements Market-Based Sourcing on Sales of Non-TPP

17. Colorado DOR Issues Compliance Guidance on Some Remote Seller Notice and Reporting Requirements

18. Mississippi DOR Adopts New Rule Requiring Some Out-of-State Sellers with Substantial Economic Presence to Collect Use Tax on In-State Sales

19. August 3 Enforcement Date Added to Recent Pennsylvania Ruling Holding that Certain Online Information Retrieval Products Constitute Taxable TPP

20. The Still-Rising Tide - Will Investment Managers Be Swept Up in State Income Tax Trends

21. Ohio Department of Taxation Launches Amnesty Program Website

22. Amended Regulations Reflect Recent Montana Law Changes that Expand Waiver of Composite Return or Withholding for Domestic Second-Tier Pass-Through Entities

23. Tennessee DOR Explains Updated Requirements for Claiming Intercompany Intangible Expense Deduction

24. Vermont Department of Taxes Issues Draft Nexus Bulletin - Comments Must be Received by December 8

25. Tennessee DOR Holds that True Object of Subscriptions for Cloud-Based Scheduling Services is Taxable Remotely Accessed Software

26. AB 398 expands California’s partial sales and use tax exemption

27. Illinois EDGE tax credit program restored

28. Local Policy Digest

29. EY State income and franchise tax Quarterly update

30. Ernst & Young LLP Sales and Use Tax Quarterly Update

31. New York income tax withholding audits on the rise

32. Coping with the tax challenges of relocation and mobility

33. California OTA stakeholder meeting to comment on draft emergency regs

34. State tax implications of federal tax reform: Repatriation toll charge

35. State tax implications of federal tax reform: Interest expense deduction limitations

36. State tax implications of federal tax reform: Full expensing

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.

State Tax Knowledge Update (29 items) - October 24, 2017

The following are state tax and business developments I have curated since October 16, 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. Nexus New Jersey limited partner actively operating partnership

2. Louisiana Voters Approve Tax & Transportation Amendments

3. Pennsylvania loss carryover unconstitutional remedy percentage

4. Tax Foundation Updates Its Problematic Wishlist for State Tax Policy

5. The Jig Is Up: Republican Budget Resolution Finally Admits that Deficit Will Soar Under their Tax Plan

6. The Dishonest Pitch for Trump-GOP Tax Cuts

7. The Corporate Tax Code is in Dire Shape, But Trump-GOP Plan Would Make It Worse

8. State Rundown 10/18: Ballot Initiative Efforts Being Finalized

9. Inaugural Seattle Tax in the City® | Highlights and Takeaways

10. Local Policy Digest

11. Weak Growth in State Tax Revenue Persists in 2017

12. States' Tax Portfolios Drive Differences in Revenue Volatility

13. Sales Tax Rates in Major Cities, Midyear 2017

14. 2018 State Business Tax Climate Index

15. California FTB Expands Treatment Set Forth in Previous Notice on Water-Edge Elections for Non-electing Unitary Foreign Affiliates

16. District of Columbia OTR Informally Comments on Market-Sourcing of Sales of Non-TPP

17. Massachusetts DOR Issues Working Draft of Amendments to Regulation on Corporate Excise Tax Nexus

18. Montana DOR Issues Proposed Regulations Based on New Market-Sourcing, NOL, and Financial Institution Apportionment Provisions

19. New Jersey Tax Court Upholds CBT Assessment Issued Against Out-of-State Corporate Limited Partner on Passthrough Income Received from Real Estate Partnerships

20. Pennsylvania Supreme Court Affirms that Fixed-Dollar Cap on NOL Carryover Deduction is Unconstitutional, But Finds that Percentage Cap is Valid

21. Maine Revenue Services Discusses New Economic Nexus Provisions, Along with Existing Affiliate and Click-Through Nexus Provisions

22. Comments on Proposed New Mississippi Rule Requiring Out-of-State Sellers with Substantial Economic Presence to Collect Use Tax on In-State Sales are Due October 30

23. New York City State Appellate Court Affirms that Taxpayer is Subject to Tax in RPTT Matter

24. Wave of Amazon HQ2 Bids Unlike Anything Experts Have Seen

25. The State Tax Function and Emerging Technologies: Now Is the Time

26. Airbnb to File New Hampshire Returns for Hosts

27. MD Imposed Tax on MI Subsidiary’s Intercompany Loan Interest

28. Out-of-State Taxpayer Liable for NM Gross Receipts Tax

29. Remote work is still good business

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.

State Tax Knowledge Update (37 items) - Sept 21, 2017

The following are state tax and business developments I have curated since September 12th, 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. VA sourcing rules constitutional IPA where work performed

2. AL group may use NOLs generated before consolidated election

3. State Rundown 9/13: The Year of Unprecedented State Budget Impasses Continues

4. Comments on South Dakota’s Challenge to Quill

5. Domestic tax quarterly webcast series: a focus on state tax matters

6. South Dakota Supreme Court – Sales tax economic nexus provisions unconstitutional; appeal to US Supreme Court expected

7. Virginia Denies Alternative Market Approach for Sourcing Sales

8. South Dakota Supreme Court Rules in Favor of Remote Retailers; Next Step US Supreme Court?

9. Florida Provides Guidance Regarding Sourcing of Services for Income Tax Purposes

10. Pennsylvania Department of Revenue Attempts to Tax Information Retrieval Services: An Overview of Letter Ruling SUT-17-002

11. Foxconn Tax Credit Package Enacted in Wisconsin

12. Zapper Fraud Case Results in Mandatory Real-Time Monitoring

13. INDIVIDUAL INCOME INSIGHTS: CHECKING UP ON CHECKOFFS

14. CORPORATE CLOSE-UP: VIRGINIA COURT DENIES CORPORATION USE OF ALTERNATIVE METHOD OF APPORTIONMENT

15. PROPERTY TAX POST: ARE STATES TAKING THEIR TAKINGS POWER TOO FAR?

16. CORPORATE CLOSE-UP: ILLINOIS (FINALLY!) FINALIZES MARKET-BASED SOURCING REGULATIONS

17. INDIVIDUAL INCOME TAX INSIGHTS: INCOME TAX CONSEQUENCES OF NONRESIDENT TELECOMMUTING

18. CORPORATE CLOSE-UP: THE FTB’S SMALL CAP SOLUTION TO ALLEGED FINANCIAL AND NON-FINANCIAL COMBINED REPORTING APPORTIONMENT DISTORTION

19. CORPORATE CLOSE-UP: DELAWARE CONTINUES DEVELOPING UNCLAIMED PROPERTY RULES

20. State Tax Filing Relief for Victims of Hurricanes Harvey and Irma

21. Examining the Potential Tax Implications of Streaming Video Distribution

22. Alabama Appellate Court Affirms that Certain Separate Company NOL Carryforwards Can Be Claimed on Consolidated Return

23. New Delaware Law Includes Retroactive Tax Law Changes for Series Captive Insurance Companies

24. Illinois Tax Tribunal Holds that Insurance Premium Financing Subs Must File as Part of Combined Return for Financial Organizations

25. New Mississippi Law Allows Department of Revenue to Contract with Third-Party Auditors on a Contingent Fee Basis

26. Proposed Regulations Reflect Recent Montana Law Changes that Expand Waiver of Composite Return or Withholding for Domestic Second-Tier Pass-Through Entities

27. Pennsylvania Trial Court Finds NOL Cap is Unconstitutional

28. Tennessee DOR Issues Chart and Examples Depicting Apportionment Calculations Under Various Elections

29. Virginia Circuit Court Denies Alternative Apportionment Request and Upholds Validity of Standard Cost-of-Performance Method to Apportion Income from Subscription-Based Services

30. Massachusetts DOR Finalizes New Regulation Adopting Bright Line Nexus for Some Remote Sellers

31. Proposed Amended Ohio Rule Addresses Bad Debts, Assignment of Accounts Receivables, and Financing Companies

32. Illinois DOR Proposes Use Tax Nexus Standards for Trade Show Retailers

33. DON'T MISS the 24th Annual Paul J. Hartman SALT Forum

34. 2017 Oregon Legislative Tax Update

35. How Much Does Your State Collect in Corporate Income Taxes Per Capita?

36. REMINDER: Supreme Court to Consider West Virginia Tax Credits Case

37. Maine: 2017 Legislative Changes

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.

20 State Tax & Business Developments You May Want to Know - August 14, 2017

The following are state tax and business developments I have curated since August 9th, and posted in the LEVERAGE SALT LinkedIn group:

1. Cook County’s Sweetened Beverage Tax effective August 2, 2017; first returns due September 20, 2017

2. State Rundown 8/9: And Then There Were Three

3. Are You Prepared for Oregon’s Move to Market Sourcing?

4. Delaware releases amended draft unclaimed property regulations

5. Foxconn Deal Will Put Wisconsin in Red for At Least 25 Years

6. New York Broker-Dealer Tax Stance Likely to Spark Pushback

7. Mississippi’s Sales Tax Regulatory Smorgasbord Continues—Internet Sellers and Commercial Contractors on the Menu!

8. Dark Property Theory: A balanced review of key components used in property tax appeals

9. When Incentives Matter, Oklahoma’s a Safe Bet

10. Big Data, Big Moves, Big Merger

11. Higher Taxes In a High Tax State Are Highly Problematic

12. Oklahoma Emergency Rules Implement Upcoming Three-Month Amnesty Program that Begins September 1

13. State conformity to federal provisions - Exploring the variances

14. MTC National Nexus Program Now Offering Online Marketplace Seller Voluntary Disclosure Initiative

15. New Rhode Island Law Requires Implementation of 75-Day Amnesty Program Providing for Potential 100 Percent Penalty Waiver and Reduced Interest Due

16. District of Columbia Budget Legislation Codifies Unincorporated Business and Franchise Tax Rate Reductions

17. Minnesota Supreme Court Affirms that Foreign Disregarded Entity Income and Apportionment Factors are Properly Included in Combined Return

18. New York Releases New Guidance for Receipts Factor Methodology for the Owners of SMLLCs That Are Registered Broker-Dealers

19. Pennsylvania DOR Holds that Certain Online Information Retrieval Products Constitute Taxable TPP

20. New Rhode Island Law Contains Economic Nexus Provisions, Information Reporting and Notice Requirements

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 LS 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.