Ryan Indicates House Committees Will Take Up ACA Repeal and Replacement
CCH Tax Day Report Repeal and replacement of the Affordable Care Act (ACA) (P.L. 111-148) will involve the applicable House committees, House Speaker Paul Ryan, R-Wisc., told reporters at a news...
View ArticleNeal Discusses ACA Repeal and Tax Reform; Hatch Says ACA Repeal Path Could...
CCH Tax Day Report House Ways and Means Committee ranking member Richard Neal, D-Mass., discussed repeal of the Patient Protection Affordable Care Act (ACA)( P.L. 111-148) and tax reform at the...
View ArticleCalifornia ~ Multiple Taxes: 2017-18 Budget Proposal Would Fund EIC, Amend...
CCH Tax Day Report California Gov. Edmund G. Brown’s 2017-2018 budget proposal impacts personal income tax, motor fuel taxes, and motor vehicle fees. In the governor’s announcement of the proposal, it...
View ArticleMinnesota ~ Sales and Use Tax: Nexus Amendments Introduced
CCH Tax Day Report Legislation introduced in the Minnesota Senate includes amendments to sales and use tax nexus laws that would add certain nexus-creating activities to the definition of “retailer...
View ArticleNew Mexico ~ Multiple Taxes: Governor Introduces Fiscal Year 2018 Budget
CCH Tax Day Report New Mexico Gov. Susana Martinez has announced her Fiscal Year 2018 budget proposal. According to the governor, her budget proposal does not include raising taxes. The text of the...
View ArticleWyoming ~ Multiple Taxes: SOS Address Calls for Fair Tax Structure, Exemption...
CCH Tax Day Report In his 2017 State-of-the-State (SOS) address, Wyoming Gov. Matthew H. Mead made one sales and use tax recommendation and called for a “fair tax structure.” In relation to economic...
View ArticleHouse Approves 2017 Budget Reconciliation; Legislative Vehicle for ACA Repeal
CCH Tax Day Report The House approved the 2017 budget resolution (BR) (SConRes 3) by a 268-to-151 vote on January 13. The measure was approved by the Senate on January 12 (TAXDAY, 2017/01/13, C.1). The...
View ArticleFinal Inversions Regulations Provide Guidance on Calculating the Ownership...
CCH Tax Day Report The IRS has issued final inversions regulations under Code Sec. 7874 that disregard certain stock of the foreign acquiring corporation in calculating the stock ownership percentage...
View ArticleWeekly Report from Washington, D.C.
CCH Tax Day Report Congress approved a 2017 budget resolution as the first step toward repeal of the Patient Protection and Affordable Care Act (ACA) (P.L. 111-148). An P.L. 111-148 replacement plan...
View ArticleCalifornia ~ Corporate Income Tax: Out-of-State Corporate LLC Member Not...
CCH Tax Day Report The California Court of Appeal, Fifth District, held that the $800 California minimum franchise tax did not apply to an out-of-state corporation whose sole connection with California...
View ArticleMassachusetts ~ Corporate Income Tax: California Biotech Drug Company...
CCH Tax Day Report The Massachusetts Supreme Judicial Court has affirmed a decision by the Appellate Tax Board (ATB) that a California-based biotech company was required to determine its corporate...
View ArticleMinnesota ~ Corporate, Personal Income Taxes: IRC Conformity Law Enacted
CCH Tax Day Report Minnesota Gov. Mark Dayton has signed legislation retroactively conforming the state’s corporate franchise and personal income tax to most federal changes enacted since December 31,...
View ArticleNebraska ~ Personal Income, Property Taxes: Governor Proposes Tax Reforms
CCH Tax Day Report Nebraska Gov. Pete Ricketts, along with Revenue Committee Chairman Jim Smith, and Agriculture Committee Chairwoman Lydia Brasch, have announced proposals for property and personal...
View ArticleTennessee ~ Sales and Use Tax: Out-of-State Dealer Registration Application...
CCH Tax Day Report The Tennessee Department of Revenue has posted a sales and use tax registration application for out-of-state dealers. Certain out-of-state dealers with no physical presence in...
View ArticlePetition for Redetermination Was Timely Filed; Tax Court Dismissal Reversed...
CCH Tax Day Report The Tax Court erred when it dismissed a taxpayer’s petition for redetermination of a deficiency notice because it was untimely. While it is true that litigants cannot stipulate to...
View ArticleGeorgia ~ Corporate, Personal Income Taxes: 2017 Tax Changes Discussed
CCH Tax Day Report The Georgia Department of Revenue has posted corporate and personal income tax facts and information to its website to discuss 2017 filing and refund changes. For individuals, all...
View ArticleNew Hampshire ~ Corporate, Personal Income Taxes: Filing Deadlines Extended...
CCH Tax Day Report The New Hampshire Department of Revenue Administration has issued a technical information release addressing the effect that the Emancipation Day holiday observed on April 17, 2017,...
View ArticleNew York ~ Corporate Income Tax: Electronic Bill Payment Receipts Were...
CCH Tax Day Report In a New York corporate franchise tax case involving an out-of-state taxpayer that provided electronic bill payment and presentment (EBPP) services, it was improper for the Division...
View ArticleWhat’s New for the 2016 Tax Season? Wolters Kluwer Reviews Changes Taxpayers...
(NEW YORK, NY, January 17, 2017) — While 2016 was not a significant year for tax legislation, the upcoming tax return filing season will see more changes than the prior tax filing season, according to...
View ArticleFinal Regulations Provide for Five-Year Built-In Gain Recognition Period for...
CCH Tax Day Report The IRS has issued final regulations under Code Sec. 337(d) that provide for a five-year built-in gain recognition period during which a RIC or a REIT may be subject to corporate...
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