State Tax Knowledge Update (27 items)- October 2, 2017

The following are state tax and business developments I have curated since September 21st, 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. PRACTICE AND PROCEDURE: STATES KEEP TAXPAYERS AFLOAT BY PROVIDING TAX RELIEF FOR HARVEY AND IRMA VICTIMS

2. Cuomo Announces New Amazon Office in New York City will Create 2,000 Jobs

3. Whole Foods Told To Pay $3.5M On Add-Backs Per NY Tax Law

4. California holds IPM on withholding for pass through entities

5. State Tax Developments: Captives

6. Wisconsin Eliminates Alternative Minimum Tax

7. Alaska 80% DRD for dividends received from 80 20 company

8. State sales tax could be costing Nashville tech jobs

9. Multistate Insider: Local Policy Digest

10. California Governor Signs Cleanup Legislation Related to Restructuring of State BOE and New OTA

11. Virginia Governor Reminds that Amnesty Program Has Begun

12. New York Extends Gramm-Leach Bliley Transition Rules for Certain New York City Financial Institutions

13. New York City Tax Appeals Tribunal Requires Taxpayer to Recognize Property Gain on Final Tax Return

14. Taxpayer Asks US Supreme Court to Review Florida Supreme Court Holding Which Held that Taxing Satellite Services Versus Cable TV Services at Different Rates is Constitutionally Valid

15. Amended Oklahoma Rules Reflect Remote Seller and Affiliate Nexus Provisions

16. South Dakota Supreme Court Affirms that Remote Seller Economic Nexus Law is Unconstitutional

17. Wisconsin Governor Signs Budget Bill with Various Tax Law Changes Including Updated State Conformity to IRC, Revised Sourcing and Apportionment Provisions, and NOL Limitations

18. Proposed Alabama Amended Rule Reflects New Law that Includes Loans and Credit Card Receivables in Property Factor for FIET Purposes

19. California FTB Chief Counsel Ruling Addresses Impact of Recorded Goodwill for Deemed Water-Edge Election Business Assets Test

20. New Mexico AHO Holds in Taxpayer Favor that Interest Income from Payment-in-Kind Notes is Nonbusiness Income Allocable Out-of-State

21. North Carolina Supreme Court Affirms that Taxpayer Cannot Claim Interest Deduction for Market Discount Income on Discounted US Bonds

22. Illinois Appellate Court Holds that Internet Retailer Lacks Substantial Nexus and Thus Not Liable for Use Tax

23. Massachusetts Supreme Judicial Court Affirms that Wholesale Distributor Must Collect and Remit Tax on Goods Sold to Out-of-State Retailers in Drop Shipment Scenarios

24. Holders Beware: Delaware Department of State Notices to be Mailed in Two Weeks!

25. Why Does Missouri Want a Gross Receipts Tax?

26. Ohio’s Commercial Activity Tax: A Reappraisal

27. State and Local Tax Aspects of Republican Tax Reform Framework

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.

30 State Tax & Business Developments You May Want to Know - August 26, 2017

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

1. KPMG TWIST Podcasts for week of August 21, 2017

2. Texas Amnesty Program Beginning September 1, 2017

3. Texas: Time to file a petition or request a hearing extended starting September 1, 2017

4. Texas Involvement in MTC Online Marketplace Seller VDI

5. The Impact of New Use Tax Reporting Laws for the Future of State and Local Taxes

6. Can You Pay Me Now? Verizon Refunding Taxes in New York

7. States Should Adopt a Version of Colorado’s Remote Sales Tax Law

8. The Many Reasons for the Seattle Income Tax

9. Budget and Tax Center: Costly Tax Cuts in New State Budget Continue Precarious Road Ahead for North Carolina

10. Expect the Unexpected: Nuances of Unclaimed Property Oil and Gas Reporting

11. Ohio enacts several economic development changes

12. State Rundown 8/23: Few Lingering Budget Debates Cannot Linger Much Longer

13. Illinois Proposes Trade-Show Sales Tax Nexus Law

14. Illinois amended regulations provide market-based sourcing guidance and other changes

15. Virginia Circuit Court Rules BPOL Tax in Violation of Import-Export Clause

16. MultiState's Local Policy Digest explores the top legislative developments from municipalities across the U.S.

17. Oklahoma Tax Commission Reminds that Amnesty Program Begins September 1

18. New Texas Law Requires Comptroller to Establish a Tax Amnesty Program Providing for Waiver of penalty or interest, or both

19. Illinois Department of Revenue Publishes Amended Apportionment Rules

20. A Closer Look at New York Draft Proposed Regulations under Article 9-A Business Corporation Franchise Tax Under Subpart 3-9

21. Software Company Royalties Received from Out-of-State OEMs Are Excluded from Sales Factor Numerator in Wisconsin

22. BLOOMBERG BNA Q&A WITH ALSTON & BIRD’S ZACH GLADNEY: PASS-THROUGH ENTITIES NEXT IN LINE FOR NEXUS ISSUES

23. SALES TAX SLICE: 5 THINGS AMAZON FULFILLMENT SELLERS SHOULD KNOW ABOUT THE MTC’S NEW VOLUNTARY DISCLOSURE INITIATIVE

24. CORPORATE CLOSE-UP: OREGON FOLLOWS MTC IN ADOPTING MARKET-BASED SOURCING AND APPORTIONABLE INCOME DEFINITION

25. SALES TAX SLICE: ‘INTERNET TAXES’ EXPLAINED

26. 2017 mid-year sales tax changes

27. The 3 secrets for managing your Amazon inventory

28. The FBA sales tax amnesty program explained

29. The importance of learning what does NOT need to be done, and other things.

30. Don’t Be Lazy: The Billable Hour Has Survived For A Reason Probably the biggest mistake most new lawyers make is that they don’t put in the work.

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.

29 State Tax & Business Developments You May Want to Know - August 21, 2017

The following are state tax and business developments I have curated since August 14th, and posted in the LEVERAGE SALT LinkedIn group:

1. Resistance is not Always Futile: New Decision in Ongoing Delaware Unclaimed Property Audit Litigation

2. MTC Voluntary Disclosure Initiative for Online Marketplace Sellers (i.e., Amazon FBA program)

3. A State Tax Administrator's Perspective on Partnership Taxation

4. Illinois Court Upholds Cook County’s Beverage Tax Finding It Passes Constitutional Muster and Related Developments

5. Webinar: August 24th - Best Practices in Achieving Obsolescence Adjustments for Complex and Commercial Properties

6. State Corporate Income Tax Rules for Sourcing of Revenue for Law Firms

7. Nationwide Sales/Use Tax Update - September 12, 2017

8. Credits Can No Longer Be Applied Against Oregon’s Minimum Tax

9. Total Solar Eclipse Won’t Black Out State Taxes

10. South Carolina going after Amazon (the marketplace facilitator) for not collecting sales tax on behalf of the businesses that use the marketplace to sell products to SC residents

11. Summary of New York Corporation Tax Legislation Enacted after the 2016-2017 Budget

12. New York Amendments Regarding Sales Tax Rules for Transactions between Certain Related Entities and for Purchases Made by Nonresident Businesses

13. Technology Company State Tax Guide from Moss Adams (Very Nicely Done)

14. Illinois Amends Rule Regarding Alternative Apportionment

15. Amazon’s Marketplace Business Isn’t a Tax Avoidance Scheme

16. A comparison of enterprise zone programs in Illinois, Indiana, and Wisconsin

17. MTC National Nexus Program Adds 2 More Participating States to Online Marketplace Seller Voluntary Disclosure Initiative

18. Rhode Island DOT Announces that it Will Accept Applications for Recently Enacted Amnesty Program Beginning December 1

19. California FTB Issues Draft Proposed New Pass-Through Entity Withholding Regulation

20. Minnesota Tax Court Holds that Taxpayer May Apply NOL Carryovers from an Acquired Entity to Full Extent Permitted under IRC § 382

21. New North Carolina Law Includes Changes to Intercompany Expense Addback Statute, Added Franchise Tax Base Deduction, and Definition of Business Income

22. Texas Court of Appeals Upholds Subcontractor Exclusion While Reversing and Remanding on Taxpayer COGS Methodology

23. Memo Explains Recent New York Law Changes on Transactions Involving TPP Resold Between Certain Related Entities

24. California Supreme Court Denies Rehearing in Recent Case Involving Taxation of a Transfer of Legal Entity Interests

25. Washington DOR Reissues Emergency Amended B&O Tax Rule on Financial Institution Apportionment to Conform with MTC Changes

26. Three Big Problems with Sales Taxes Today — and How to Fix Them

27. Should Online Platforms Collect Sales Tax For Third-Party Sellers?

28. The United States Of Unicorns: Every US Company Worth $1B+ In One Map

29. Are Remote Retailers and Marketplace Providers in the 'Path of Totality'?

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.

14 STATE TAX DEVELOPMENTS YOU MAY HAVE MISSED

I have been extremely busy with work and managing a move from Virginia to Nashville, TN. We bought a fixer-upper on 16 acres near Nashville and are set to close on the sale of our house in Virginia in June. We will be physically and permanently in the Nashville area in June. Can't wait. Because of the multitude of tasks involved in moving, I haven't had the time to blog as much. I hope you understand. 

Note: if you are located in the Nashville area, please contact me or connect with me on LinkedIn. If you are ever in the area for work or attend the Paul J. Hartman State and Local Tax Forum in October, let me know.

I have however, posted several things in the LEVERAGE SALT LinkedIn group that you may find interesting, if you haven't seen them.

1. State Rundown 4/21: Scraping the Bottom of the Revenue Barrel

2. 90 Reasons We Need State Corporate Tax Reform? - Interesting.

3. State Rundown 5/6: Energy Boom Goes Bust

4. Iowa Tax Reform Options: Building a Tax System for the 21st Century

5. Oregon Initiative Petition 28: The Threat to Oregon’s Tax Climate

6. Graduated Income Tax Amendment Stalls In Illinois House

7. 2016 State Tax Amnesty Programs (According to COST)

8. COST Issues Comments on Georgia's Waiver of Interest Provision

9. TEI Issues Policy Statement on Statutes of Limitation for State and Local Taxes

10. TEI Holds Liaison Meeting with the Illinois Department of Revenue

11. New Jersey Can Strike Blow Against Tax Havens

12. If Everyone Is a Tax Haven, No One Is

13. Unclaimed Property Litigation Update – Spring 2016

14. Pennsylvania Illustrated: A Visual Guide to Taxes & The Economy

I hope you find something useful from the links provided. If you do, please drop me a line and let me know. Also, send me a topic or question you would like me to cover in a future blog post.

I started the LEVERAGE SALT LinkedIn group to encourage interaction. To be honest, there really isn't much interaction on LinkedIn. It appears to be more of a bullhorn than true conversation. I know we are extremely busy and don't have time to wander the halls of LinkedIn. But I challenge you to start a conversation. Let's really talk.