Nebraska ~ Multiple Taxes: IRC Conformity Provision Updated
CCH Tax Day Report Any reference to the Internal Revenue Code in Nebraska laws, other than in the corporate income tax and personal income tax laws and other listed exceptions, refers to the Internal...
View ArticleOklahoma ~ Multiple Taxes: Provision Authorizing Out-of-State Tax Collections...
CCH Tax Day Report The Oklahoma Tax Commission is authorized to establish an out-of-state tax collections enforcement division for purposes of enhancing collections of (1) sales and use taxes related...
View ArticleSouth Carolina ~ Personal Income Tax: New Credits Enacted for Vehicle...
CCH Tax Day Report Recently, enacted South Carolina legislation creates new income tax credits for preventive vehicle maintenance and for earned income. The legislation also increases the existing...
View ArticleWeekly Report from Washington, D.C.
CCH Tax Day Report President Trump announced a nominee for a key Treasury Department tax post. The IRS reminded taxpayers about safeguarding documents and exempt organizations to file returns. White...
View ArticleABA MAY MEETING: Declining Audit Rates Reflect IRS Budget Cuts
CCH Tax Day Report Declining audit rates reflect budget cuts, Tammy Ripperda, deputy commissioner, Small Business/Self Employed Division, IRS, told practitioners at the May Meeting of the American Bar...
View ArticleArkansas ~ Sales and Use Tax: Purchases Not Qualified for Manufacturing...
CCH Tax Day Report An Arkansas manufacturer’s purchase of calibration services did not qualify for a manufacturing machinery and equipment exemption from sales tax because these services constituted a...
View ArticleNew Jersey ~ Personal Income Tax: New Wounded Warrior Caregiver Credit Enacted
CCH Tax Day Report New Jersey has enacted a new gross (personal) income tax credit for family caregivers of certain former armed service members with service-connected disabilities. The credit applies...
View ArticleBankruptcy Court Properly Determined Strategy Was Not Investment; No...
CCH Tax Day Report An attorney’s bankruptcy estate was not liable for a tax shelter promoter penalty for the attorney’s failure to register as tax shelters certain financial arrangements he marketed...
View ArticleIowa ~ Multiple Taxes: IRC Conformity Updated for Research Tax Credits
CCH Tax Day Report Iowa has enacted legislation updating Internal Revenue Code (IRC) references for the franchise, corporate and personal income tax research credits. Effective retroactive to January...
View ArticleMontana ~ Personal Income Tax: Earned Income Credit Enacted
CCH Tax Day Report Under recently enacted Montana legislation, a refundable earned income credit is available against the personal income tax, applicable to tax years beginning after December 31, 2018....
View ArticleUtah ~ Sales and Use Tax: Sales of Cloud Storage and Infrastructure Services...
CCH Tax Day Report Utah sales and use tax would not be imposed on a company’s sales of cloud storage and infrastructure or on data transfer fees because the computer hardware housing the storage and...
View ArticleCEO, President Did Not Willfully Fail to Pay Trust-Fund Taxes (Byrne, CA-6)
CCH Tax Day Report The CEO and president of a defunct manufacturer did not willfully fail to pay over trust fund taxes. The two corporate officers took reasonable steps to ensure the timely payment of...
View ArticleHawaii ~ Corporate, Personal Income Taxes: Legislature Passes IRC Conformity...
CCH Tax Day Report The Hawaii Legislature has passed a bill that, if approved by the governor, would generally conform Hawaii corporate and personal income tax laws to the Internal Revenue Code (IRC)...
View ArticleNorth Carolina ~ Multiple Taxes: Senate Budget Bill Includes Market-Based...
CCH Tax Day Report The North Carolina Senate has passed a budget bill that incorporates a number of corporate income and personal income tax changes from a previous bill (TAXDAY, 2017/04/07, S.14),...
View ArticleOhio ~ Sales and Use Tax: Bill Requiring Certain Out-of-State Sellers to...
CCH Tax Day Report The Ohio House of Representatives has passed legislation that would require out-of-state sellers to register with the Tax Commissioner to collect use tax if: (i) it has gross...
View ArticleVirginia ~ Sales and Use Tax: Biennial Budget Legislation Containing Tax...
CCH Tax Day Report Virginia Gov. Terry McAuliffe has signed the biennial budget bill that contains a variety of retail sales and use tax provisions, as detailed below. Separate stories discuss income...
View ArticleBipartisan Lawmakers Ask House Leaders to Protect Advertising Deduction
CCH Tax Day Report Over 100 bipartisan House lawmakers are urging their leadership to leave in place the deduction under the tax code for advertising expenses as necessary and ordinary business...
View ArticleHouse GOP Leaders Preparer for First Full Committee Hearing on Tax Reform
CCH Tax Day Report The House Ways and Means Committee is scheduled to hold its first full committee tax reform hearing of the season on May 18. House Republican leaders met on May 17 to discuss the...
View ArticleHawaii ~ Personal Income Tax: Legislature Approves Tax Rate Changes, New...
CCH Tax Day Report The Hawaii Legislature has approved a bill that, if approved by the governor, would change personal income tax rates, establish a state earned income tax credit, and repeal the...
View ArticleMontana ~ Corporate, Personal Income Taxes: Credit Enacted for Hiring...
CCH Tax Day Report A Montana corporate and personal income tax credit has been enacted for taxpayers that employ a registered apprentice who works in Montana, applicable to tax years beginning after...
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