Louisiana Enacts Remote Seller Law With Sales Thresholds
Louisiana will require remote retailers to collect sales and use tax if they meet certain sales thresholds. The thresholds apply to tax periods on or after the date of the final ruling in South Dakota...
View ArticleMinnesota Offers Interim Wayfair Guidance
The Minnesota Department Revenue will provide guidance on sales tax nexus after South Dakota v. Wayfair, Inc., Docket No. 17-494, within 30 days. It is analyzing how the U.S. Supreme Court’s decision...
View ArticleIndividual Liable for Unpaid Interest (Gonzales, DC Calif.)
A personal representative of the estate was not entitled to a refund because he was required to pay the unpaid interest assessed against a deceased individual taxpayer. The deceased taxpayer sold...
View ArticleAlabama Issues IRC Sec. 965 Repatriation Income Guidance
Additional guidance is issued for Alabama taxpayers that paid or accrued IRC §965 transition tax, including: – corporate taxpayers; and – taxpayers filing as a part of a federal consolidated group....
View ArticleDecoupling Bill Sent to New Jersey Governor
The New Jersey Legislature passed a bill that would: impose a surtax on corporations for two years; and decouple from certain provisions of the federal Tax Cuts and Jobs Act; reduce the dividend...
View ArticleNew Jersey Legislature Passes Tax Amnesty Bill
The New Jersey Legislature passed a bill that would require offering tax amnesty in 2018. The amnesty period would have to: be 6 months; and end by December 31, 2018. If enacted, the bill would take...
View ArticleRhode Island Budget Bill Amends Personal Exemptions, Credits
Rhode Island’s 2019 budget bill amends several income tax laws with changes affecting: personal exemptions; preservation of the state’s tax base; motion picture production credits; and sunset dates...
View ArticleTax Cuts “2.0” Draft Expected in July, Brady Says
A tax cuts “2.0” draft will likely be unveiled to House Republicans in July, the House’s top tax writer has said. A draft of the tax reform “phase two” legislative outline is expected to be released...
View ArticleConnecticut Creates Deduction for Venture Capital Income
Connecticut legislation creates a personal income tax deduction for general partners who receive income from a venture capital fund established on or after January 1, 2018. The deduction applies to tax...
View ArticleIowa Offers Wayfair Guidance
Iowa issued guidance regarding how the U.S. Supreme Court’s decision in South Dakota v. Wayfair, Inc., Docket No. 17-494 affects online retailers, remote sellers, and marketplace providers. Earlier in...
View ArticleLouisiana Decreases Sales Tax Rate
Louisiana has decreased its sales tax rate to 4.45%, effective July 1, 2018. It also is imposing a tax on business utilities. Changes to Louisiana Tax Rates Louisiana Gov. John Bel Edwards signed the...
View ArticleMassachusetts Increases Life Sciences Credit Cap, Extends Sunset Date
Massachusetts provides a credit against corporate excise and personal income tax liability to companies engaged in life sciences in the state. Legislation increases the annual statewide credit cap. It...
View ArticleNew Jersey Legislature Passes Alternative Surtax and Decoupling Bill
The New Jersey Legislature passed a second income tax bill that would: – impose a surtax on corporations; – decouple from certain provisions of the federal Tax Cuts and Jobs Act; and – reduce the...
View ArticleTax Preparer’s IRS Obstruction Conviction Vacated (Westbrooks, CA-5)
The Fifth Circuit vacated and remanded for resentencing a tax preparer’s IRS obstruction conviction. The individual’s conviction was no longer valid in light of C.J. Marinello, SCt. 2018-1 ustc...
View ArticleMassachusetts Bill Creates Family and Medical Leave Payroll Tax
The Massachusetts legislature sent Gov. Charlie Baker legislation that would create a new payroll income tax on employers for a state family and medical leave program. What Employers Would Pay the...
View ArticleMassachusetts Legislature Approves Permanent Annual Sales Tax Holiday
A bill just passed by the Massachusetts legislature would enact a permanent annual sales tax holiday in the state. When is the Sales Tax Holiday? The dates of the sales tax holiday would be set by the...
View ArticlePennsylvania Entertainment Industry Tax Credits Expanded
Pennsylvania has expanded the availability of two corporate income tax credits. Keystone Special Development Zone Entertainment Business Financial Management Firms operating in a Keystone Special...
View ArticleRemote Sellers Not Yet Required to Collect Tax From South Dakota Buyers
The U.S. Supreme Court recently issued their decision in South Dakota v. Wayfair, and upheld South Dakota’s law requiring certain remote sellers without physical presence to collect and pay sales tax....
View ArticleVermont’s Remote Seller Law Takes Effect July 1
Vermont’s remote seller sales and use tax law takes effect July 1, 2018. Thresholds for Businesses to Be Subject to Tax Out-of-state vendors making sales into Vermont must register and collect sales...
View ArticleSFC Holds IRS Commissioner Nomination Hearing
President Donald Trump’s pick for IRS Commissioner told lawmakers that his top goal is to rebuild trust between the IRS, taxpayers, and Congress. IRS Commissioner Nominee Charles “Chuck” P. Rettig...
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