Oregon ~ Corporate Income Tax: Finance Company Had Nexus with Oregon
CCH Tax Day Report The Oregon Tax Court held that a finance company had substantial nexus with Oregon and was liable for tax on its income earned in Oregon because the company had an economic presence...
View ArticlePennsylvania ~ Sales and Use Tax: Purchases and Installation of Road Signs...
CCH Tax Day Report The Pennsylvania Commonwealth Court denied exceptions filed by a taxpayer because the taxpayer’s purchases and installation of road signs, used in fulfillment of contracts with the...
View ArticleRules Issued for Reporting Bingo, Keno and Slot Machine Winnings (T.D. 9807)
CCH Tax Day Report Final regulations under Code Sec. 6041 have been provided regarding the filing of information returns to report winnings from bingo, keno, and slot machine play. The final...
View ArticleProposed Regulations Address Withholding on Gambling Winnings from Parimutuel...
CCH Tax Day Report The IRS has issued proposed regulations under Code Sec. 3402(q) regarding income tax withholding on certain payments of gambling winnings from horse races, dog races, and jai alai....
View ArticleGuidance Provided on Maintaining Certified Professional Employer Organization...
CCH Tax Day Report The IRS has released guidance describing the procedures a certified professional employer organization (CPEO) must follow and the requirements it must satisfy to maintain its...
View ArticleTime Extended for Filing Disclosure Statements for Micro-Captive Insurance...
CCH Tax Day Report The IRS has extended until May 1, 2017, the time for filing participant and material advisor disclosure statements for certain micro-captive insurance transactions identified as...
View ArticleArizona ~ Sales and Use Tax: Centralized Licensing and Reporting of...
CCH Tax Day Report Effective January 1, 2017, the Arizona Department of Revenue (ADOR) will become the single point of administration and collection of transaction privilege tax (TPT). The transition...
View ArticleMinnesota ~ Property Tax: Airline Flight Property Tax Appeal Discussed
CCH Tax Day Report A Minnesota Department of Revenue fact sheet outlines an airline’s right to appeal the state’s determination of value and assessment of airline flight property. Flight property is...
View ArticleCongress’s 2017 Tax Reform Agenda Starts with Repeal of ACA
CCH Tax Day Report Republican and Democrat lawmakers met separately on January 4 to discuss the future of the Patient Protection Affordable Care Act (ACA) (P.L. 111-148). President Obama met with House...
View ArticleIRS Provides Guidance on the De Minimis Safe Harbor from Information...
CCH Tax Day Report The IRS has provided guidance regarding the de minimis safe harbor from information reporting penalties under Code Secs. 6721 and 6722 , as well as guidance regarding the payee...
View ArticleAlaska ~ Multiple Taxes: Interest Rate Increased for Q1 2017; Oil Tax Rate...
CCH Tax Day Report The Alaska interest rate for most delinquent taxes increases to 4.25% (formerly, 4%) for the period January 1, 2017, through March 31, 2017. For that quarter, the oil and gas...
View ArticleAlaska ~ Severance Tax: Department’s Decision to Treat Separate Oil Fields as...
CCH Tax Day Report The Alaska Supreme Court upheld the Department of Revenue’s (DOR’s) decision to treat separate oil and gas oil fields operated by common working interest owners as a single entity...
View ArticleTennessee ~ Sales and Use Tax: Natural Disaster Relief Refund Provided For...
CCH Tax Day Report Individuals who receive disaster assistance from the Federal Emergency Management Agency (FEMA) as a result of the fires in Sevier County can receive a refund for Tennessee sales tax...
View ArticleSome ACA Provisions Could Continue Temporarily Post-Repeal
CCH Tax Day Report Repeal of the Patient Protection and Affordable Care Act (ACA) (P.L. 111-148) and its associated taxes could come quickly but changes, possibly including changes to the ACA’s tax...
View ArticleKoskinen Predicts Smooth Start to Filing Season; Reminds Taxpayers of Refund...
CCH Tax Day Report IRS Commissioner John Koskinen told reporters in Washington, D.C. on January 5, that the Service is ready for the 2017 filing season. Koskinen was joined at the press conference by...
View ArticleCalifornia ~ Corporate Income Tax: Discussion Paper Released for Potential...
CCH Tax Day Report The California Franchise Tax Board (FTB) has released a discussion paper to assist with eliciting public input on possible proposed amendments to California’s market-based sourcing...
View ArticleMichigan ~ Sales and Use Tax: Agricultural Exemptions Amended
CCH Tax Day Report The Michigan sales and use tax exemptions for personal property used in agriculture has been extended to include property used in draining. Tangible personal property affixed to a...
View ArticleTennessee ~ Corporate Income, Franchise Taxes: FAQs Concerning Receipts...
CCH Tax Day Report The Tennessee Department of Revenue has updated its list of franchise and excise tax frequently asked questions (FAQs) addressing the sourcing of receipts for taxpayers in the...
View ArticleGuidance Issued on Use of Account Transcript in Lieu of Estate Tax Closing...
CCH Tax Day Report The IRS has issued guidance on the methods available to confirm the closing of an examination of the estate tax return. For estate tax returns filed after June 30, 2015, the IRS...
View ArticleWeekly Report from Washington, D.C.
CCH Tax Day Report The 115th Congress convened on January 3. The Treasury Inspector General for Tax Administration (TIGTA) issued a report on IRS services available to taxpayers The IRS reminded...
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