South Carolina ~ Corporate, Personal Income Taxes: IRC Conformity Date Updated
CCH Tax Day Report Recently enacted legislation updates South Carolina’s Internal Revenue Code (IRC) tie-in date for purposes of computing South Carolina’s corporate and personal income tax liability...
View ArticleIRS Posts Questions and Answers about DRT Mailings
CCH Tax Day Report The IRS has posted questions and answers on its website about the Service’s mailings on suspicious activity related to the Data Retrieval Tool (DRT) and Free Application for Federal...
View ArticleArkansas ~ Sales and Use, Miscellaneous Taxes: Arkansas Medical Marijuana...
CCH Tax Day Report Effective July 1, 2017, a cultivation facility, dispensary, or other marijuana business is required to collect and remit an Arkansas medical marijuana special privilege tax of 4%...
View ArticleFlorida ~ Utilities Tax: Differing Communications Tax Rates Not...
CCH Tax Day Report For Florida communications services tax purposes, different rates of tax that applied to services provided by cable companies and by satellite companies for sale of similar services...
View ArticleNew Jersey ~ Corporate, Personal Income Taxes: Gain from Deemed Sale of an S...
CCH Tax Day Report Finding for the Division of Taxation on the main issue, the New Jersey Tax Court stated that the correct method of sourcing the income on the deemed sale of a New Jersey S...
View ArticleWeekly Report from Washington, D.C
CCH Tax Day Report Congress is on recess. The Treasury Inspector General for Tax Administration (TIGTA) issued a report on the Patient Protection and Affordable Care Act’s (ACA’s) (P.L. 111-148)...
View ArticleArkansas ~ Sales and Use Tax: Sales Tax Holiday Set for August 5-6
CCH Tax Day Report The annual Arkansas sales tax holiday for clothing and school-related supplies will begin at 12:01 a.m. on Saturday August 5, 2017, and end at 11:59 p.m. on Sunday August 6, 2017....
View ArticleIowa ~ Motor Fuel Tax: Gasoline Tax Rate to Decrease on July 1, 2017
CCH Tax Day Report Effective July 1, 2017, the Iowa gasoline tax rate is decreased to 30.5 cents per gallon (currently, 30.7 cents per gallon). All other Iowa fuel tax rates will remain the same. The...
View ArticleNorth Dakota ~ Corporate, Personal Income Taxes: New Angel Investor Credit...
CCH Tax Day Report Under recently enacted North Dakota legislation affecting the corporate and personal income taxes, the existing angel fund investment tax credit is limited to investments made before...
View ArticlePennsylvania ~ Sales and Use Tax: Review of Large and Complex Refund Requests...
CCH Tax Day Report A Pennsylvania Department of Revenue bulletin discusses new procedures for review of large and complex sales and use tax refund requests. These requests may be addressed through the...
View ArticleWhistleblower Not Entitled to Award; No Collected Proceeds (Whistleblower...
CCH Tax Day Report A whistleblower was not eligible to receive an award because there were no “collected proceeds” for the three years examined and the IRS did not take any action on the other years....
View ArticleConnecticut ~ Personal Income Tax: Commercial Tax Preparer Legislation Proposed
CCH Tax Day Report CConnecticut Revenue Services Commissioner Kevin B. Sullivan has announced that legislation will be introduced to protect taxpayers by setting basic standards for paid commercial...
View ArticleIndiana ~ Corporate Income Tax: Burden of Proof Requirements for Alternative...
CCH Tax Day Report Indiana has enacted legislation stating that the party petitioning for or requiring the use of an alternative allocation and apportionment of a corporate income taxpayer’s income...
View ArticleIndiana ~ Sales and Use Tax: Out-of-State Rate Applied to Certain Nonresident...
CCH Tax Day Report Effective from July 1, 2017 to June 30, 2019, sales of recreational vehicles and cargo trailers In Indiana will be taxed at the rate of the state or country where the cargo trailer...
View ArticleKansas ~ Sales and Use Tax: Retailer’s Installation Services Qualified for...
CCH Tax Day Report A Kansas sales and use tax exemption for all installation services connected with the reconstruction, restoration, remodeling, renovation, repair, or replacement of a residence...
View ArticleApplicable Federal Rates for May 2017 Released (Rev. Rul. 2017-11)
CCH Tax Day Report Various prescribed rates for federal income tax purposes for March 2017 have been provided by the IRS. The annual short-term, mid-term and long-term applicable federal interest rates...
View ArticleLouisiana ~ Multiple Taxes: CAT Bill Introduced
CCH Tax Day Report A bill has been introduced in the Louisiana House of Representatives that would, if enacted, impose a commercial activity tax (CAT) on the taxable gross receipts of each entity doing...
View ArticleOklahoma ~ Corporate, Personal Income Taxes: Wind Energy Credit Sunset Enacted
CCH Tax Day Report Legislation has been enacted that sunsets the Oklahoma corporate and personal income tax credit with respect to electricity generated by wind for any facility placed in operation...
View ArticleRhode Island ~ Sales and Use Tax: Taxability of Cloud Computing Services and...
CCH Tax Day Report The Rode Island Division of Taxation has issued a declaratory ruling regarding whether an information technology infrastructure services company’s sales of certain cloud computing...
View ArticleTrump Administration Weighing Border Adjustment Tax, Mnuchin Says
CCH Tax Day Report The House Ways and Means Committee will soon hold hearings on tax reform, a committee spokesperson told Wolters Kluwer on April 19. There has been talk on Capitol Hill that these...
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