24 State Tax & Business Developments You May Want to Know

The following are state tax and business developments I have curated since July 21st, and posted in the LEVERAGE SALT LinkedIn group:

  1. Seattle Passes Municipal Income Tax; It is Almost Certainly Illegal

  2. State Inheritance and Estate Taxes: Rates, Economic Implications, and the Return of Interstate Competition

  3. Local Policy Digest

  4. NEW State and Local Taxation Certificate in the Graduate Tax Program at Villanova University!

  5. Colorado Will Require Use Tax Reporting Starting July 1 2017

  6. Register today for Georgetown Law's 2017 Advanced State and Local Tax Institute (July 27-28)

  7. Maine Enacts Economic Nexus Provisions for Sales Tax Purposes

  8. Commonwealth Court Rules in Favor of Taxpayer in Case Involving Scope of “Building Machinery and Equipment” Exemption

  9. Eversheds Sutherland SALT Scoreboard Publication - Second Quarter 2017

  10. WEEKLY ROUND-UP: MARIJUANA, OIL AND GAS, AND OTHER EXCISE TAX DEVELOPMENTS

  11. CORPORATE CLOSE-UP: MID-YEAR CRISIS? ILLINOIS RAISES ITS CORPORATE INCOME TAX

  12. Memo to Politicians: Bargaining for an Amazon Warehouse? Turn the Tables!

  13. House Judiciary Posts Witnesses for Digital Sales Tax Hearing

  14. Marvel Nabs $21M in California Tax Credits for ‘Captain Marvel’

  15. JULY 26 WEBINAR: REGISTER NOW for Q2 ‘17 Middle Market Indicator

  16. Private Equity Special Report: 10 young and thriving firms worth watching

  17. Comprehensive Tax Reform

  18. A Repatriation Tax on Foreign Income of US-Based Multinational Corporations

  19. Number of Approved State Tax Credits Expected to Double in 2017

  20. State expands research and development tax credits for machinery purchases

  21. Minimize State and Local Tax with Negotiated Credits & Incentives

  22. State and Local Tax Roundup: Retail and Consumer Industry

  23. UPDATE: The Delaware Secretary of State Releases the Final Version of its Estimation Regulations With No Substantive Changes

  24. The Court of Appeals of Iowa Rules An Out-of-State Intangible Holding Company Was Not Doing Business In Iowa

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 issueYou can make it as granular as you prefer. This allows yo you reduce information overload, and only get the information you need to help your clients or company. This service is provided on a subscription basis.

46 State Tax & Business Developments You May Want to Know

This week I started curating state tax and business developments from a variety of sources into one spot, the LEVERAGE SALT LinkedIn group. Many people have contacted me and said they find it very useful. So I will continue to do so by posting a state tax update blog post every week. To clarify, I will post state tax and business developments daily to the LEVERAGE SALT LinkedIn group. Every week (maybe more than once a week) I will write a blog post summarizing those developments that I posted to the LEVERAGE SALT LinkedIn group with links to the posts. 

The following are state tax and business developments I have curated since July 18th, and posted in the LEVERAGE SALT LinkedIn group:

  1. Internet Access Exempt from Washington Sales Tax

  2. Washington B&O Tax Extends to Speculative Builders

  3. Do you owe TN sales tax on cloud-based software?

  4. Will federal tax reform make state tax nexus even more important?

  5. The ImpACT of the Tennessee IMPROVE Act

  6. Summary of Illinois Income Tax and Sales Tax Changes from P.A. 100-0022

  7. Illinois Withholding Tax Rate and Personal Exemption Amount Changes

  8. Illinois Income Tax Increase Guidance - Detailed Instructions For Filing Your 2016 Illinois Income Tax Return and 2017 Estimated Payments

  9. Incentives Watch: ‘Back to School, Back to School’ in Georgia—Scholarship Tax Credits Have Been Ruled Legal, Too

  10. Indiana – Gain from subsidiary sale is nonbusiness income; interest expense allowed for payments accrued but not paid

  11. FREE WEBINAR TODAY: Legislative and Taxation Updates in Communications and Cloud Industries

  12. Advancing Your Investment Opportunity through NMTC, HTC, and Traditional Incentives

  13. What Did the Washington State Legislature Do to Us This Time?

  14. Personal Property Tax Audits and Appeals – Coast to Coast

  15. 2017 Louisiana Legislative Session Recap

  16. Conferences: Not Lobbying Free-for-alls

  17. Hawaii Revises Government Ethics Laws

  18. State Rundown 7/19: Handful of States Still Have Their Hands Full with Tax and Budget Debates

  19. States in crisis: Embroiled in the worst budget battles since the Great Recession

  20. America's Top States for Business 2017: The full list

  21. On the move: Biggest winners and losers in states' battle to lure corporations, jobs

  22. Middle-Market Public Policy Roundup

  23. The National Center for the Middle Market’s Q2 ‘17 Middle Market Indicator

  24. Starbucks, Anthem Awarded Slice of $7M in Nevada Tax Relief

  25. Investment Entities Owning Property Purchased Outside the United States Face Double Taxation Under Amended New York Law

  26. DuPont Mostly Prevails in $800K Indiana Income Tax Case

  27. The Impact of Federal Tax Changes on States

  28. Unfair Apportionment: Consider the Alternatives | Tax Executive

  29. Kentucky:Amazon Delivers $1.5-Billion Package to Kentucky | Site Selection Magazine

  30. California: Innovation Works | Site Selection Magazine

  31. Indiana: Indiana Claims Factory Belt Title | Site Selection Magazine

  32. Iowa: How to Make $3 Billion | Site Selection Magazine

  33. Iowa: A Complete Business Cycle | Site Selection Magazine

  34. Manufacturing Innovation Center To Open in ’17 | Site Selection Magazine

  35. Minnesota: North Star Manufacturers ‘Optimistic’ | Site Selection Magazine

  36. New England: Punching Above Their Weight | Site Selection Magazine

  37. Tennessee Grants and Tax Credits

  38. Seattle City Council Passed Legislation Imposing a 2.25% Income Tax on Select Residents

  39. How High Are Individual Income Tax Collections in Your State?

  40. Potential state tax consequences of federal corporate tax reform | Deloitte US

  41. The DC qualified high-technology company program: Recent developments

  42. California Chief Counsel Ruling on the Application of Market-Based Sourcing Rules to Non-Marketing Services

  43. Michigan Department of Treasury Discusses Implications of Concluded Multistate Tax Compact Election Litigation

  44. Texas Comptroller Discusses Policy Changes Regarding Temporary Credit for Business Loss Carryforwards

  45. Connecticut Department of Revenue Services Apparently Enforcing Economic Nexus Standard on Some Remote Sellers

  46. Georgia Department of Revenue Amends Administrative Rule on Manufacturing Exemption

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. Clients hire LS to curate information for multiple specific items on a daily basis. This service is provided on a subscription basis.

23 State Tax & Business Developments You May Want to Know

The following are state tax developments and commentary I have curated for today and posted in the LEVERAGE SALT LinkedIn group that you may find helpful:

  1. The Ideal Federal Tax Rate? 21%

  2. Welcome to the Wild, Wild West Where the States Have All the Guns!

  3. Missouri ‘Suddenlink’ Decision Raises Questions Regarding Impact of 2016 and 2017 Legislation

  4. Florida Passes Data Center Sales Tax Exemption

  5. Delaware DOF Delays Adoption of Estimation Regulations as DOS Adopts Final Regulations

  6. New York Significantly Steps up Audit Enforcement while Increasing Incentives for Voluntary Compliance

  7. Sales Tax Slice: Following DMA v. Brohl, More States Require Out-of-State Sellers to Report Customers’ Purchases

  8. Weekly Round-Up: Online Marketplaces, Remote Retailers and Digital Sales

  9. Corporate Close-Up: Oregon Joins Montana in the Trend towards Market-Based Sourcing

  10. FY 2018 BUDGET STATUS (for 50 States)

  11. Why a Border Adjustment Tax Would Be a Bad Deal for States and Localities

  12. THE BEST AND WORST OF STATE TAX ADMINISTRATION COST SCORECARD ON TAX APPEALS & PROCEDURAL REQUIREMENTS

  13. 2017 STATE TAX AMNESTY PROGRAMS

  14. Testimony before the Arkansas Tax Reform and Relief Task Force

  15. COST’s Opposition to S.B. 1548 (“Accurate Reporting of Corporate Profits”/Mandatory Worldwide Combined Reporting)

  16. Kansas Learned Its Lesson, But Will Other States?

  17. State Inheritance and Estate Taxes: Rates, Economic Implications, and the Return of Interstate Competition

  18. Partnership Taxation - A State Tax Administrator's Perspective

  19. State Corporate Income Taxes and the Effect on European Taxes

  20. UDITPA Sec. 18 Regulatory Project Work Group Meeting

  21. Nexus Committee Meeting

  22. Use Tax Information Reporting Work Group

  23. Partnership Work Group Meeting

If you like the curating of state tax developments into one spot (regardless of firm), but 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. The client can make it as granular as they prefer. Clients hire LS to curate information for multiple specific items on a daily basis. Unlike getting updates on a publisher's research platform, LS custom curation will provide updates from multiple sources including accounting firms, law firms and state websites. This service is provided on a subscription basis.

21 State Tax & Business Developments You May Want to Know

During the past few weeks, state legislatures ended their sessions with many changes and many problems left unanswered. I've also been traveling lately for work and personal reasons, and haven't posted in a while. To make up for it and provide some useful information, I posted several tax developments in the LEVERAGE SALT LinkedIn group that you may find helpful:

  1. State Tax Changes Taking Effect July 1, 2017
  2. Sales and Use Tax Compliance Legislation was a Big State Tax Trend This Year
  3. State and Local Sales Tax Rates, Midyear 2017
  4. Ten States Begin FY2018 Without Budget In Place
  5. State Rundown 7/11: Some Legislatures Get Long Holiday Weekends, Others Work Overtime
  6. Should the Corporate Rate and the Pass-Through Rate Be Identical?
  7. With Veto Override, Illinois Legislature Abandons Reform Efforts
  8. Important Announcement from the California Department of Tax and Fee Administration, Formerly Part of the California State Board of Equalization
  9. $75 Million Available During the First Application Period in the California Competes Tax Credit Program’s Final Year
  10. What Is Minimal Substantial Nexus?
  11. Illinois Passes a Budget, But it's No Time to Celebrate
  12. State Tax Quarterly Insights April to June 2017
  13. Illinois – Corporate rate increase, repeal of separate unitary groups for certain industries, R&D credit retroactively reinstated, IRC 199 addback required, and other tax changes
  14. Tax Changes Implemented As Part of Revenue Package Supporting Illinois Budget
  15. North Carolina Legislature Overrides Governor Veto of Budget Bill
  16. Should Corporations Pay Higher State Income Tax? Are Corporations Paying a Small % of State Income Tax Because of Credits & Incentives?
  17. Oregon Adopts Market Based Sourcing
  18. New Ohio Law Includes Amnesty Program with Potential 100 Percent Penalty Waiver and 50 Percent Interest Waive
  19. A Closer Look at NY Draft Proposed Regulations under Article 9-A Business Corporation Franchise Tax Under Subpart 3-9 - Computation of the UNOL

  20. Illinois 2017–2018 state budget bill enacted | Deloitte US

  21. Ohio fiscal year 2018–2019 budget bill enacted | Deloitte US

Tax Legislation: Are We Asking The Right Questions?

State tax developments are everywhere. They happen daily. The question is - are we just reporting them or are we challenging them?

This legislative season has seen crazy proposals to raise revenue, balance budgets - all influenced by political pressures and confusion. We have policy organizations submitting reports and studies asserting that certain proposals are ridiculous or would either be unfair or detrimental to the state and specific taxpayers. This complexity not only applies to state tax legislatures, but also the federal government - as we know. The problem is that states generally have to balance their budgets every year to operate (although apparently that doesn't apply to Illinois).

One thing I noticed is that state legislative sessions are focused on raising revenue. Always asking what can or should be taxed? What new forms of business do we need to tax? What tax revenue are we missing out on?

I think those are the wrong questions. The questions we should be asking are:

  • What services should the state or federal government provide?
  • To what extent ($$) should the government provide those services?
  • How do we prioritize those services?
  • What is the cost/benefit of providing those services?
  • At what point does the provision of those services cause detriment to citizens and our economy? 
  • What oversight will each service have to avoid waste and efficient use of taxpayer dollars?

We don't always need more revenue. We need to rethink and revamp the purpose of government. Our governments should be lean and efficient. They should provide us with what we need most - not more or less. It's not about tax revenue, it's about efficient government. It's about the health and wealth of our country - financially, physically and spiritually. 

If we never ask the right questions, we won't get the right answers.