STATE TAX KNOWLEDGE UPDATE (59 ITEMS) - May 22, 2018

The following are state tax and business developments I have curated since May 2nd, 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. Wisconsin Explains Reconciliation with Federal Consolidated Returns

2. Preview of the share image State Sales Tax Shakeup

3. Indiana Offers Voluntary Disclosure Initiative for Out-of-State Retailers

4. Kentucky Requires IRC Sec. 199A Addback, Restores Credits

5. South Dakota Provides Guidance on Foreign Dividend Recapture

6. MTC Section 18 Alternative Apportionment Regulatory Project Moves Forward with Two Proposed Model Rules - Draft Model Use Tax Reporting Statute Also Advances

7. Alabama DOR Issues Guidance on IRC Sec 965 Transition Tax Impact on State Tax Returns

8. California FTB Moves Forward with New Draft Proposed Amendments to Market-Based Sourcing Regulation

9. Florida DOR Issues Guidance on IRC Sec 965 Transition Tax Impact on State Corporate Tax Returns

10. New Kentucky Law Imposes Mandatory Unitary Combined Reporting Regime

11. Ohio Supreme Court Holds in Taxpayer Favor Regarding Credit Computation for Pre-CAT NOLs

12. Oregon DOR Issues Proposed Administrative Rule on New State Repatriation Tax Credit Pursuant to IRC Sec 965 Repatriation Income for Tax Year 2017

13. Growing Number of State Sales Tax Jurisdictions Makes South Dakota v. Wayfair That Much More Imperative

14. Oklahoma Allows Transition Tax Installment Payment Election

15. Tax Reform Task Force Names Income Tax Proposals for Further Study

16. California OTA Readopts Emergency Rules on Administration and Procedures of Appeals and Petitions for Rehearing

17. Focusing the Lens on Film Credits

18. Indiana DOR Offers Special Limited-Time VDI for Out-of-State Online Retailers with In-State Inventory

19. New Georgia Law Addresses Federal Partnership Audit Regime Changes and How to Report Adjustments for State Purposes

20. Taxpayer Asks US Supreme Court to Review 2017 Pennsylvania Supreme Court Ruling on NOL Carryovers

21. South Dakota DOR Discusses Federal Tax Law Changes Relating to Foreign Dividend Recapture and Potential Impact for State Bank Tax Purposes

22. Texas Comptroller Issues Franchise Tax Ruling on Whether Proceeds from Certain Hedging Transactions Are Included in Apportionment Factor

23. Alabama DOR Discusses New Law Requiring Certain Marketplace Facilitators to Collect and Remit Tax

24. New Georgia Law Requires Some Remote Sellers to Collect and Remit Tax or Else Adhere to Information Reporting Requirements

25. California FTB Issues Final Report on California’s Conformity to 2017 Federal Income Tax Changes

26. State and Local Tax Technology Checklist (Techlist)

27. TWIST - This Week in State Tax

28. Georgia Expands “Dealer,” Adds Use Tax Notice Requirement

29. Alabama Opens for Amnesty Applications on July 1

30. Connecticut Legislature Approves Pass-Through Entity Tax

31. Legislative Session Review: Georgia

32. California May 18 meeting on changes to market based sourcing rules

33. Connecticut Requires Bonus Depreciation, Sec. 179 Adjustments

34. IRC Conformity Bill Goes to Hawaii Governor

35. Indiana Special Session Considers IRC Conformity

36. North Carolina Proposes Income Tax Rate Changes

37. Legislative Session Review: Kansas

38. Indiana Enacts IRC Conformity Bill

39. Indiana Revises Corporate Income Tax Rate Calculation and Credit

40. Massachusetts Provides Estimated Tax Penalty Relief for IRC Sec. 965 Income

41. Oklahoma Creates New Credits for Vehicle Manufacturing Industry

42. “One Maryland” Credit Revised

43. Maryland Retains Personal Exemptions

44. Alabama DOR Reminds that 2018 Amnesty Program Begins July 1

45. Kentucky Claims Commission Amends Rules Related to Tax Appeals Procedures

46. Alabama DOR Issues Amended Rules on NOL Carryforwards and Revised Filing Due Dates

47. Updated Connecticut Administrative Guidance Discusses Treatment of IRC Sec 965 Federal Repatriation Transition Tax

48. New Indiana Law Updates State Conformity to IRC

49. Massachusetts DOR Issues Release on Estimated Tax Penalty Relief for Corporations Affected by Transition Tax on Deferred Foreign Earnings

50. New Oklahoma Law Permits Electing Federal Transition Tax Installment Payers to Elect Similar Payment Scheme for State Purposes

51. Pennsylvania DOR Announces that 2017 State Supreme Court Ruling on NOL Carryovers Will Not Be Applied to Earlier Years

52. City of Seattle Poised to Impose an Employee Hours Tax on Some Businesses

53. Alabama Tribunal Judge Denies DOR Motion to Stay in Online Retailer Legal Challenge of Economic Presence Rule for Out-of-State Sellers Making Threshold Sales into Alabama

54. New York eyes UBT in response to federal tax reform

55. Pennsylvania Clarifies Caps for NOL Calculations

56. California Requires Return Adjustments for Sec. 965 Amounts

57. Minnesota Legislature Passes IRC Conformity, Rate Reductions

58. Friday Tax Reform: States Issue Guidance, Waive Penalties for Foreign Income

59. Corporate Close-Up: Indiana Latest State to Respond to Federal Tax Reform

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.