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.

17 State Tax and Business Developments You May Want to Know - Sept 5, 2017

The following are state tax and business developments I have curated since August 26th, and posted in the LEVERAGE SALT LinkedIn group:

1. NC market discount income from US govt bonds is not interest

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

3. COST, EY & State Tax Research Institute Study: Total State and Local Business Taxes (fy16)

4. Oregon revenue online educational services sourced faculty costs

5. State Rundown 8/31: Modernizing Taxes is Sometimes a Sprint, Sometimes a Marathon

6. Oral Arguments Heard in South Dakota’s Challenge to Quill

7. Net Operating Loss Carryforward & Carryback Provisions by State

8. Indiana Files Lawsuit to Defend Out-Of-State Sales Tax Law

9. Amended Colorado Regulations Address Combined and Consolidated Filing and Apportionment

10. Massachusetts DOR Issues Technical Information Release on Policy Change Regarding Treaty-Exempt Income

11. Oregon Tax Court Explains that Only Direct Costs are Relevant in Determining Where Greater Proportion of Costs of Performance Was Incurred

12. Indiana Attorney General Responds to Suit Filed by Trade Groups Regarding Enforcement of New Remote Seller Economic Nexus Law

13. Limited-Time Voluntary Disclosure Program for Out-of-State Sellers Having Click-Through Nexus Runs through November 21 in New Jersey

14. Rhode Island Division of Taxation Explains New Information Reporting and Notice Requirements on Some Remote Sellers - Including Marketplace Facilitators

15. Seattle high-income resident income tax enacted

16. Texas appellate court upholds subcontractor exclusion while reversing and remanding on COGS methodology

17. VA Supreme Ct rules subject to tax exception post apportionment

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.