Arkansas ~ Sales and Use Tax: Tax Incentive for Qualified Nonprofit...
CCH Tax Day Report A bill has repealed the Nonprofit Incentive Act of 2005, which allowed qualified nonprofit organizations to receive refunds of Arkansas sales and use taxes as an incentive to locate...
View ArticleIndiana ~ Corporate Income Tax: Interest Addback, Throwback Sales and NOL...
CCH Tax Day Report An Indiana manufacturer’s protest against an assessment of additional corporate income tax based on an interest addback, throwback sales, and net operating losses (NOLs) was rejected...
View ArticleIndiana ~ Corporate Income Tax: Alternative Three-Factor Apportionment...
CCH Tax Day Report An out-of-state corporation (taxpayer) that manufactures and sells tobacco products across the United States was not permitted to utilize an alternative income apportionment formula...
View ArticleTrump to Make Major Statement on Infrastructure in Congressional Address;...
CCH Tax Day Report President Trump in a February 27 meeting at the White House with state governors said that he will be making a “big statement” on infrastructure during his upcoming joint address to...
View ArticleTransition Relief for QSE HRA Notice is Extended Until Guidance is Issued...
CCH Tax Day Report The IRS is extending the period for an employer to furnish an initial written notice to its eligible employees regarding a qualified small employer health reimbursement arrangement...
View ArticleGeorgia ~ Corporate, Personal Income Taxes: IRC Conformity Legislation Passes...
CCH Tax Day Report The Georgia House of Representatives has passed legislation that would, if enacted, amend the definition of the Internal Revenue Code (IRC) for corporate and personal income tax...
View ArticleIllinois ~ Property Tax: Mortgage Assignments Were Not Subject to Real Estate...
CCH Tax Day Report Mortgage assignments were not subject to Chicago real estate transfer tax because mortgages do not convey equitable ownership in real property. The transfer tax is imposed on...
View ArticleNew Jersey ~ Corporate Income Tax: Sale-leaseback Assets Not Included...
CCH Tax Day Report The New Jersey Tax Court granted a taxpayer’s partial summary judgement motion and concluded that the taxpayer did not obtain a sufficient ownership interest in certain...
View ArticleTexas ~ Property Tax: High Court Finds Components of Oil Refinery Assessment...
CCH Tax Day Report The Texas Supreme Court has found that just as an appraisal district may choose to divide a single tract into multiple accounts for various reasons, such as the complexity of...
View ArticleTexas ~ Corporate Income Tax: Auto Repair Labor Costs Were Not COGS
CCH Tax Day Report A Texas Appellate Court issued an opinion stating that an automobile dealership (taxpayer) could not include auto repair costs in its cost of goods sold (COGS) computation for...
View ArticleTrump Discusses Tax Reform, Infrastructure, ACA Replacement in Joint Address...
CCH Tax Day Report President Trump delivered his first address to a joint session of Congress in the House chamber on the evening of February 28. Trump outlined his administration’s goals to lawmakers,...
View ArticleAll States ~ Personal Income Tax: Webinar: New York Residency Rules: Tax...
CCH Tax Day Report Wolters Kluwer is hosting a live two-hour webinar, New York Residency Rules: Tax Issues and Audits, on Thursday, March 2, 2017, at 1 p.m. Eastern; noon Central; 11 a.m. Mountain; 10...
View ArticleArizona ~ Corporate, Personal Income Taxes: Legislature Passes IRC Conformity...
CCH Tax Day Report The Arizona Legislature has passed a bill that would update the state’s conformity to the Internal Revenue Code (IRC) for corporate and personal income tax purposes for taxable years...
View ArticleDeciding Where to Retire: Finding a Tax-friendly State to Call Home
Wolters Kluwer Reviews State Tax Treatments of Retirement Benefits (NEW YORK, NY, March 1, 2017) — While the allure of warmer weather or being close to family are major factors in selecting a place to...
View ArticleDeduction for Donation of Aircraft to Museum Denied; No Contemporaneous...
CCH Tax Day Report An individual was not entitled to a charitable contribution deduction for his alleged gift of a 50-percent interest in a vintage private airplane. The individual failed to include...
View ArticleWolters Kluwer Interview: PwC Tax Leader Looks at Tax Reform in 2017
CCH Tax Day Report As the Trump administration moves forward with choosing top Treasury officials to contribute to the administration and congressional tax reform discussions, Wolters Kluwer recently...
View ArticleAll States ~ Personal Income Tax: Webinar: New York Residency Rules: Tax...
CCH Tax Day Report Wolters Kluwer is hosting a live two-hour webinar, New York Residency Rules: Tax Issues and Audits, on Thursday, March 2, 2017, at 1 p.m. Eastern; noon Central; 11 a.m. Mountain; 10...
View ArticleCalifornia ~ Corporate Income Tax: FTB Provides Guidance Regarding Swart...
CCH Tax Day Report The California Franchise Tax Board (FTB) informed taxpayers that it will not appeal the California Court of Appeal’s decision in Swart Enterprises, Inc. v. FTB, 7 Cal. App. 5th 497...
View ArticleMichigan ~ Corporate Income Tax: Unitary Decision in LaBelle Applies to Both...
CCH Tax Day Report The Michigan Department of Treasury has issued a notice to taxpayers regarding the Michigan Court of Appeals’ decision in LaBelle Management, Inc. v Department of Treasury, No....
View ArticleRhode Island ~ Multiple Taxes: Division Issues Reminder of New filing Deadlines
CCH Tax Day Report The Rhode Island Division of Taxation has issued a reminder to tax professionals, business entities, and others that filing deadlines have changed for a number of different entities....
View Article