STATE TAX KNOWLEDGE UPDATE (53 ITEMS) - AUGUST 3, 2018

The following are state tax and business developments I have curated since July 3rd, 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. New Jersey Closes Loophole, Increases Multi-Millionaires Rate

2. Alabama Announces Guidance in Response to Wayfair Decision

3. Michigan Provides Further Guidance on Impact of Federal Act

4. Remote Sellers Will Have Wisconsin Tax Duties Beginning October 1

5. Indiana Updates Remote Seller Guidance

6. Indiana Explains Income Taxes on Overseas Earnings

7. Enacted Louisiana law addresses the timing of expiring corporate income tax provisions

8. California OTA Issues Updated Draft of Proposed Permanent Regulations on Administration and Procedures of Appeals and Petitions for Rehearing

9. Indiana DOR Bulletin Discusses Recently Enacted Legislation, Including State Impact of IRC Sec. 965 Repatriation Provisions, GILTI, and IRC Sec. 163(j)

10. Maine Revenue Services Explains Procedures for Filing and/or Amending Returns Given State’s Nonconformity to Recent Federal Tax Law Changes

11. Pennsylvania: Bulletin Reflects New Law Reversing DOR’s Previous Policy by Allowing for Depreciation of 100% Bonus Property

12. New Jersey: New Law Requires Amnesty Program with Potential Waiver of 100% Penalties and 50% Interest

13. Massachusetts Appellate Tax Board Holds that Taxpayer is a “Manufacturer” Required to Compute its Corporate Excise Tax Liability Using Single Sales Factor Apportionment

14. New Jersey: New Law Includes Mandatory Combined Reporting Regime, Market-Sourcing Provisions, CBT Surtax, and Responses to Some Provisions of the Federal 2017 Tax Act

15. New York: Appellate Court Affirms Tax Appeals Tribunal Ruling Addressing Bank’s Treatment of NOLs

16. Vermont: New Law Updates State Conformity to Internal Revenue Code; Responds to Some Provisions of the Federal 2017 Tax Act

17. Georgia DOR Explains Exclusion for Dividends from Sources Outside the US, Including Application of IRC Sec. 965 Provisions

18. North Carolina: New Law Modifies Sourcing Language for Receipts from Intangibles for Sales Factor Purposes

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

20. Connecticut Issues GILTI Guidance

21. North Carolina Changes Intangible Property Sourcing Rules

22. MTC Adopts Apportionment Regulation Amendments

23. Delaware Imposes Tax on Series LLCs

24. Utah Enacts Deferred Foreign Income Changes

25. Florida DOR Holds that Taxpayer May Include Certain Intercompany Sales with Foreign Affiliates in its Sales Factor

26. New Jersey Division of Taxation Explains Upcoming Amnesty Program with Potential Waiver of Penalties, Reduced Interest, and Non-Participation Penalties

27. Alaska: New Law Requires Public Utilities to Use MTC Three-Factor Apportionment Formula for Corporate Income Tax Purposes

28. Connecticut: New Guidance Issued on Treatment of GILTI for Corporation Business Tax Purposes

29. Minnesota DOR Discusses How 2017 Federal Tax Act May Affect Business Tax Returns for Tax Year 2018

30. Rhode Island DOT Comments on Some State Tax Impacts of the Federal 2017 Tax Act

31. Utah: New Law Clarifies Previously Enacted Legislation Involving IRC Sec. 965 Deferred Foreign Income, and Revises NOL Provisions

32. Rhode Island Adopts C Corp IRC Sec. 965 Regulations

33. California Taxpayer Cannot Force Retailer to Seek Sales Tax Refund

34. Minnesota Hosting SST Meeting to Discuss Wayfair

35. Maryland Issues Wayfair Guidance

36. Indiana Wayfair FAQ Page Talks Enforcement

37. SST Meets to Discuss Wayfair

38. Texas Provides Guidance on Wayfair Decision

39. Wayfair Decision Does Not Affect Rhode Island Remote Sellers

40. Minnesota Sets Remote Collection Date

41. Indiana Explains Impact of Wayfair

42. Nebraska Issues Guidance for Remote Sellers

43. Utah Enacts Economic Nexus Law

44. Alabama Explains Impact of Federal Tax Cuts and Jobs Act

45. Michigan Issues Sales Tax Economic Nexus Guidelines

46. MTC Adopts Two Amended Model Rules Pursuant to Section 18 Alternative Apportionment Regulatory Project

47. Alabama DOR Issues Preliminary Guidance on Some State Impacts of the Federal 2017 Tax Act

48. Delaware: New Law Imposes Annual Tax on State-Registered Series LLCs

49. Michigan Appellate Court Affirms Disallowance of MBT Modified Gross Receipts Tax Base Deduction for Purchased Services

50. Vermont Department of Taxation Issues Certain Guidance on Federal 2017 Tax Act, Specifically the Inclusion of IRC 965 Income on State Returns

51. Arkansas DFA Says Remote Sellers Should Register and Collect Tax Pursuant to Recent US Supreme Court Decision that Overrules Quill

52. Kentucky DOR Updates Post- Wayfair Comments; Announces October 1 Enforcement Date and Reiterates Prospective Implementation

53. Nebraska DOR Comments on Recent US Supreme Court Decision that Overrules Quill, Including January 1, 2019 Enforcement Date and Promise of “No Retroactivity”

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 (54 ITEMS) - APRIL 11, 2018

The following are state tax and business developments I have curated since March 13th, 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. Idaho Enacts Tax Reform Legislation

2. Washington Revises Nexus Rules

3. California Issues Notice Regarding Processing Docketed Protests

4. Vermont Gives Income Tax Nexus Examples

5. Wyoming Exempts Cryptocurrencies

6. New Idaho Law Generally Updates State Conformity to IRC and Selectively Updates Conformity to Some Federal Tax Code Provisions and Decouples from Others

7. Idaho State Tax Commission Grants Taxpayer Request for Use of Alternative Apportionment Method on Gain from Sale of LLC Interest

8. North Carolina DOR Explains Classification as a Holding Company for Franchise Tax Purposes and Qualifying for 150K USD Tax Liability Cap

9. Receipts from Service Contracts Must be Sourced In-State for CAT Purposes Because Underlying Property Tied to Services is Located in Ohio

10. Vermont Department of Taxes Issues Nexus Bulletin Including List of Nexus-Creating Activities

11. Case Challenging Economic Presence Administrative Rule is On Hold Pending the Outcome of US Supreme Court Litigation Involving Quill Physical Presence Standard in Tennessee

12. Washington DOR Issues Regulatory Amendments Reflecting 2017 Legislation that Expands Business and Occupation Tax Economic Nexus Provisions

13. State Tax Reform Opportunities and Challenges: The STAR Partnership

14. Business Income Tax Collections FF(3.19.2018)

15. Emergency Regulations Adopted for Appeals From CDTFA

16. Preliminary CA Report on IRC Conformity Revised

17. New York Allows Withdrawal of Group Election in Some Cases

18. California Releases Summary of 2017 Federal Legislation

19. Utah Enacts Tax Rate Cuts, Single Sales Factor Apportionment

20. Florida Enacts IRC Conformity, Rate Reduction

21. Virginia Court Confirms “Subject to Tax” Exception Decision

22. Individual Income Insights: Highlights of the ABA and IPT Advanced Income Tax Conference in New Orleans

23. Extras on Excise: U.S. Supreme Court to Decide Whether to Review Loudoun County BPOL Case, Possibly Adding a Second Major State Tax Case to its Docket

24. New York allows withdrawal of certain combined elections by June 1

25. Florida updates conformity to IRC; rate reduction possible

26. New Florida Law Updates State Conformity to IRC, Extends Bonus Depreciation Decoupling, and Includes Contingent Corporate Income Tax Rate Reductions

27. New Georgia Law Decouples from 2017 Tax Reform Act’s GILTI Provisions

28. New Idaho Law Generally Updates State Conformity to Federal Bipartisan Budget Act of 2018

29. Illinois DOR Discusses Recently Enacted Federal Tax Reforms - Specifically State Reporting Requirements Involving the New Foreign Income Deemed Repatriation Transition Tax

30. New Jersey Tax Court Reaffirms that Tech Company Foreign Source Income that is Not Taxable for Federal Purposes is Not Taxable under CBT

31. Memo Explains Limited-Time Withdrawal Procedure from Some Commonly Owned Group Elections in New York

32. Utah New Law Permits Corporations to Pay Tax on IRC Sec 965 Deferred Foreign Income in Installments, Lowers Corporate Tax Rate, and Expands Mandated Single Sales Factor Apportionment

33. Virginia Supreme Court Holds that Intercompany Royalty Payments Must be Taxed in Another State to Qualify for Subject-to-Tax Addback Exception Once More

34. New Idaho Law Imposes Remote Seller Click-Through Nexus Provisions

35. Indiana New Law Provides that Remote Access Software is Not Subject to Tax

36. Louisiana Trial Court Holds that Online Marketplace Facilitator Must Collect Local Sales and Use Taxes on Third-Party Retailer Online Sales

37. Arizona Changes Multistate Service Provider Apportionment Rules

38. Illinois Proposes Addition Adjustment for FDII and GILTI

39. Alabama Changes Income Tax Filing Thresholds

40. Oklahoma Caps Personal Itemized Deductions

41. Florida Enacts Tax Rate Reductions and Modifications

42. COST: Tennessee Testimony on Federal Tax Reform Conformity

43. New Hampshire’s Internet Sales Tax Fight Continues

44. New Wisconsin Law Updates State Conformity to IRC and Couples and Decouples from Various Provisions of the 2017 Federal Tax Reform Act

45. New Utah Law Revises Certain Single Sales Factor Apportionment Method Provisions

46. New Ohio Law Updates State Conformity to IRC

47. New York City Memo Explains Limited-Time Withdrawal Procedure from Some Commonly Owned Group Elections

48. New Arizona Law Includes Sales from Intangibles in Defining Multistate Service Providers that May Elect Use of Special Sales Factor Sourcing Provisions

49. Louisiana: Online marketplace provider required to collect sales tax

50. Legislative Session Review: Wisconsin

51. Wisconsin Tackles IRC Conformity

52. Arizona Updates IRC Conformity

53. Kentucky Governor Vetoes Major Tax Legislation

54. Corporate Close-Up: Alabama Pass-Through Entity Owners, Rejoice! Why You May be Entitled to a Refund for The 2013 Through 2017 Tax Years

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 (34 items ) - December 12, 2017

I hope you are having a great holiday season and are remaining calm and enjoying it. I know it isn't easy. So many things going on this month and then trying to get work done, and the constant tax reform talk providing uncertainty. BUT it will calm down at some point. Just remember, life is too short to stress about things that don't really matter. The key is knowing what matters and what doesn't - that is true for both work and in life. As they say, "don't major in minors." 

The following are state tax and business developments I have curated since November 18, 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. Weekly Round-Up: News from MTC’s National Conference

2. A presentation on Residence and Domicile -Principles and Practice

3. Pennsylvania Issues Guidance on NOL Deduction

4. Connecticut to Implement App and “Cookie” Nexus

5. New York Denied Deduction for Rental Losses

6. Small-Business Owners Allege Tax Plan Bias

7. Taxes Intercept Millions From NFL Players’ Salaries

8. Corporate Close-Up: Utah Clarifies Definition of Foreign Operating Companies and Rules on Inclusion of Proceeds from Buy-Sell Agreements in Receipts Factor

9. California Competes tax credit program - $100 million in tax credits available

10. Pennsylvania - Refund limitation period starts when liability fully paid-in

11. Practice and Procedure: California Tax Appeals Office Races to the Finish Line on Finalizing Procedure Rules

12. New Jersey – No addback for worldwide income; treaty protections respected

13. Illinois Franchise Tax Relief on the Horizon

14. Massachusetts Denies Sales Factor COP Determination

15. Sale of Business Excluded From Sales Factor on California Return

16. Global Talks on Taxing Digital Economy a Worry for U.S.

17. Pennsylvania Supreme Court holds statute of limitations for corporate tax refunds is three years from the original due date of a return

18. Rhode Island's tax amnesty program begins December 1, 2017

19. State Income Tax Implications of Base Broadening Components of House and Senate Tax Reform Bills

20. 2017 Interim Report on State Taxation

21. California FTB Chief Counsel Ruling Addresses Whether Sales from Certain Business Divestures Can be Excluded from Sales Factor

22. California FTB Issues Proposed Regulations on How Credits are Allocated Among Members of Combined Reporting Group when Defective Election Occurs

23. New Connecticut Law Postpones Start of Claimant Period for Combined Reporting-Related ASC 740 Deduction

24. Virginia Department of Taxation Ruling Holds that Online Marketplace Operator is Not a Dealer for Sales Tax Collection and Remittance Purposes

25. New York Appellate Court Holds that Purchased Competitor Pricing Reports are Information Services that Qualify for Exclusion

26. Illinois - right to tax refund cannot be assigned to third-party lenders

27. Indiana Tax Court rules on sourcing of online educational service

28. KEEP WATCH ON MTC Use Tax Information Reporting Work Group

29. Rhode Island Division of Taxation Issues Guidance on Amnesty Program that Began December 1

30. California FTB Explains Application of Throwback Rule to Taxpayer Filing Certain Gross Receipts-Type and Franchise Tax Returns

31. Colorado Appellate Court Affirms that Domestic Subsidiary Holding Company Owning Stock in Foreign Entity is Not Required to be Included on Combined Return

32. Indiana Tax Court Rejects DOR Attempt to Source Receipts from Online Revenue Based on Location of Market

33. Washington Adopts Business and Occupation Tax Rule for Apportioning Financial Institution Income

34. Federal Courts Determine OTCs’ Service Fees not Subject to Hotel Occupancy Taxes - Horwood Marcus & Berk

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.