Arkansas ~ Corporate Income Tax: Legal Opinion Concerning Order of Tax...
CCH Tax Day Report The Arkansas Department of Finance and Administration has issued a legal opinion providing that an Arkansas corporate income taxpayer may first apply job creation credits to offset...
View ArticleIdaho ~ Sales and Use Tax: Free Drug Samples Not Exempt
CCH Tax Day Report A company providing free drug samples to medical service providers was liable for Idaho use tax because the samples were not exempt as prescription drugs. Drugs are exempt from taxes...
View ArticleIllinois ~ Sales and Use Tax: Personal Property Lease Tax Does Not Apply...
CCH Tax Day Report The Illinois Supreme Court held that Chicago’s taxation of car rentals outside city limits under its personal property lease transaction tax ordinance violated the city’s home rule...
View ArticleNebraska ~ Sales and Use Tax: Remote Seller Legislation Introduced
CCH Tax Day Report The Nebraska Legislature has introduced a bill that would require a remote seller to collect and remit Nebraska and local sales tax if, in the previous or current calendar year (i)...
View ArticleVirginia ~ Personal Income Tax: Refund Fraud Prevention Discussed
CCH Tax Day Report The Virginia Department of Taxation has issued a release outlining the various safety procedures they are taking to prevent personal income tax refund fraud. The department has a...
View ArticleTax Season Has Officially Begun: Time to Claim Those Tax Deductions Before...
Wolters Kluwer Highlights Need-to-Know Deductions and Tax Credits (NEW YORK, NY, January 23, 2017) — Hitting the send button to e-file a tax return or dropping an envelope with completed forms in the...
View ArticleTrump Predicts Large Tax Cuts; Regulatory Freeze, Presidential Actions on ACA...
CCH Tax Day Report President Trump, while maintaining a focus on tax reform, has signed one executive order and three presidential memorandums since being sworn into office on January 20 (TAXDAY,...
View ArticleIRS to Amend Form Instructions to Eliminate AMT Depreciation Adjustment if...
CCH Tax Day Report On January 19, 2017, the IRS announced on its website that the instructions for various 2016 forms relating to the Alternative Minimum Tax (AMT) will be amended to provide that...
View ArticleConnecticut ~ Sales and Use Tax: Certain Home Warranties Are Subject to Tax
CCH Tax Day Report The sale of a home service contract or home warranty for residential real property that is being used as income-producing property is subject to Connecticut sales and use taxes on...
View ArticleConnecticut ~ Corporate Income Tax: Guidance Provided on Combined Unitary...
CCH Tax Day Report The Connecticut Department of Revenue Services has issued a publication that provides answers to frequently asked questions about the calculation of the corporation business tax on a...
View ArticleMichigan ~ Sales and Use, Insurance Taxes: Health Insurance Claims Assessment...
CCH Tax Day Report The Michigan Department of Treasury has issued a notice to taxpayers about the Health Insurance Claims Assessment (HICA) rate and the HMO use tax. Effective January 1, 2017, the HICA...
View ArticleTennessee ~ Sales and Use Tax: Charges for Access to a Cloud-Based Storage...
CCH Tax Day Report The taxpayer’s charges for access to a cloud-based storage database and an optional add-on component that provides additional functionality are not subject to Tennessee sales and use...
View ArticleWays and Means Oversight Subcommittee Examines ACA Individual Mandate
CCH Tax Day Report The House Ways and Means Oversight Subcommittee held a hearing on January 24 examining the individual mandate under the Patient Protection Affordable Care Act (ACA), (P.L. 111-148)....
View ArticleTax Reform, ACA Repeal Will Occur in 2017, Ways and Means Chairman Says
CCH Tax Day Report House Ways and Means Chairman Kevin Brady, R-Tex., discussed tax reform and the repeal and replacement of the Patient Protection Affordable Care Act (ACA), (P.L. 111-148) at the U.S....
View ArticleACA Repeal and Replacement Will Be “Step-by-Step,” Ryan Says; Democrats Ask...
CCH Tax Day Report Repeal and replacement of the Patient Protection and Affordable Care Act (ACA) (P.L. 111-148) will be a step-by-step process, House Speaker Paul Ryan, R-Wis., told reporters at a...
View ArticleNebraska ~ Sales and Use Tax: Bill to Increase Tax Rate Introduced
CCH Tax Day Report Legislation has been introduced that would increase the Nebraska sales tax rate from 5.5% to 6.5% effective January 1, 2018. L.B. 313, introduced by the Nebraska Legislature on...
View ArticleSouth Carolina ~ Sales and Use Tax: Click-through Nexus Legislation...
CCH Tax Day Report Legislation has been introduced that would provide that a retailer is presumed to be liable for South Carolina sales tax if the retailer enters into an agreement with a South...
View ArticleTexas ~ Corporate Income Tax: Rental Company Could Not Include Delivery and...
CCH Tax Day Report A Texas appellate court ruled that a taxpayer that rents heavy machinery to contractors could not include delivery and pick-up fees in its cost of goods sold (COGS) deduction when...
View ArticleSeveral Eleventh-Hour Final IRS Regulations Likely Bypass Trump...
Several IRS regulations that were published in the January 24th Federal Register were apparently put into the Office of Federal Register’s (OFR) pipeline in time to avoid the reach of the regulatory...
View ArticleWolters Kluwer Interview: Experts Preview TCPI’s Analysis of Tax Reform,...
Wolters Kluwer recently had the opportunity to ask Lyn Walker (Executive Director & General Counsel, Tax Council Policy Institute (TCPI) and Eric Solomon (TCPI program manager, Co-Director,...
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