California ~ Property Tax: Disabled Veteran Exemption Amounts, Income Limits...
CCH Tax Day Report For California property tax purposes, the State Board of Equalization (BOE) has determined that, based on the California Consumer Price Index (CCPI) measured from February to...
View ArticleIllinois ~ Corporate, Personal Income Taxes: Amended Regulations Eliminate...
CCH Tax Day Report The Illinois Department of Revenue has amended regulations to eliminate annual personal income tax withholding returns and payments for most employers. Taxpayers who employ domestic...
View ArticleMontana ~ Personal Income Tax: Medical Care Savings Account Provisions Revised
CCH Tax Day Report Enacted Montana legislation makes a number of changes to the personal income tax provisions regarding medical care savings accounts, applicable to tax years beginning after December...
View ArticleNew Mexico ~ Corporate Income Tax: Certain Captive REIT Income Must be Added...
CCH Tax Day Report Recently signed New Mexico legislation amends the corporate income tax definition of “base income” to require an add back of any deduction claimed in calculating a corporation’s...
View ArticleVirginia ~ Sales and Use Tax: Nexus Established by Owning Tangible Personal...
CCH Tax Day Report Effective July 1, 2017, owning tangible personal property in Virginia that is for sale will be sufficient nexus to require out-of-state businesses to collect sales and use tax on...
View ArticleWhite House Hopes for Middle-Income Tax Cut by Next Filing Season
CCH Tax Day Report White House press secretary Sean Spicer told reporters on April 10 that despite reports otherwise, President Trump has not “gone back to the drawing board” as it relates to taxes....
View ArticleArkansas ~ Corporate, Personal Income Taxes: Conformity to IRC Provisions...
CCH Tax Day Report For purposes of computing Arkansas corporate income and personal income tax liability, the conformity date for the following provisions of the Internal Revenue Code (IRC) has been...
View ArticleNew Mexico ~ Sales and Use Tax: Receipts from Class Counsel Fee Award...
CCH Tax Day Report The New Mexico Taxation and Revenue Department has issued a ruling holding that law firms’ receipts from a class counsel fee award attributable to services performed for out-of-state...
View ArticleNew York ~ Multiple Taxes: Passage of Budget Containing Numerous Tax...
CCH Tax Day Report New York Gov. Andrew M. Cuomo has announced an agreement on the 2017-18 state budget. The budget legislation (A.B. 3009), which was passed by the legislature, contains a variety of...
View ArticleTennessee ~ Sales and Use Tax: Transfer of Title to Internally Developed...
CCH Tax Day Report The transfer of title to internally developed software from acquired entities to the taxpayer is exempt from Tennessee sales and use tax. Tennessee law provides a sales and use tax...
View ArticleTexas ~ Corporate Income Tax: Taxpayer Not Allowed to Amend Reports to Change...
CCH Tax Day Report A taxpayer was not allowed to make amendments to its Texas franchise tax reports to use the capitalization method to calculate its cost of goods sold (COGS) deduction for the report...
View ArticleIRS Provides Information on Choosing Tax Return Preparers (IR-2017-79;...
CCH Tax Day Report The IRS has issued a fact sheet to assist taxpayers in choosing a tax return preparer. Taxpayers should be aware of the various credentials, qualifications and the services that tax...
View ArticleMinnesota ~ Multiple Taxes: Omnibus Tax Bills Passed by House and Senate
CCH Tax Day Report The Minnesota House of Representatives and Senate have passed different versions of the omnibus tax bill. Both the House and Senate versions include amendments to sales and use tax...
View ArticleNew York ~ Sales and Use Tax: Enacted Budget Legislation Includes Various...
CCH Tax Day Report Enacted as part of New York’s 2017-18 budget package, Ch. 59 (A.B. 3009) includes a variety of sales and use tax provisions, including those detailed below. Separate stories...
View ArticleNew York ~ Corporate, Personal Income Taxes: Enacted Budget Includes New and...
CCH Tax Day Report Enacted as part of New York’s 2017-18 budget package, Ch. 59 (A.B. 3009) contains a variety of corporate franchise and personal income tax changes, including those detailed below....
View ArticleNorth Dakota ~ Sales and Use Tax: Certain Out-of-State Sellers Subject to Tax...
CCH Tax Day Report Legislation enacted in North Dakota provides that out-of-state sellers with no physical presence in North Dakota will be subject to sales and use tax, effective on the date the U.S....
View ArticleTrump: ACA Repeal and Replacement First, Then Tax Reform
CCH Tax Day Report President Trump has retaken the position that repeal and replacement of the Patient Protection and Affordable Care Act (ACA) (P.L. 111-148) should occur before comprehensive tax...
View ArticleCalifornia ~ Corporate Income Tax: Guidance Provided Regarding Mergers and...
CCH Tax Day Report The California Franchise Tax Board (FTB) provided guidance regarding the application of IRC §§382 to 384 for California corporation income tax purposes as it relates to apportioning...
View ArticleHawaii ~ Sales and Use Tax: Legislation Proposing Out-of-State Seller...
CCH Tax Day Report Legislation passed by the Hawaii House of Representatives would impose general excise and use tax notification and reporting requirements on certain out-of-state sellers and would...
View ArticleMaryland ~ Multiple Taxes: Manufacturing Incentive Program Enacted
CCH Tax Day Report The “More Jobs for Marylanders” tax incentive program has been enacted. An existing business entity is eligible for a credit against the state income tax, and a new business entity...
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