Tennessee ~ Property Tax: Property Classification of Certain Local Exchange...
CCH Tax Day Report The classification of property of incumbent local exchange telephone companies that elect market regulation and property telephone cooperatives is changed from public utility to...
View ArticlePetition Challenging FPAA Not Filed by Tax Matters Partner; Tax Court Lacked...
CCH Tax Day Report The Tax Court properly dismissed for lack of jurisdiction a petition challenging a notice of Final Partnership Administrative Adjustment (FPAA) because the small-partnership...
View ArticleCollection of Estate Tax Was Timely; Duty of Consistency Applied to Suspend...
CCH Tax Day Report The government’s suit to collect unpaid estate tax, interest, and penalties from the beneficiaries of the estate personally and as an executor was timely because the limitations...
View ArticleKansas ~ Sales and Use Tax: STAR Bond Financing Act Extended
CCH Tax Day Report The sunset date for the STAR Bond Financing Act is extended from July 1, 2017, to July 1, 2020, for Kansas sales and use tax purposes. Moreover, there is a moratorium on the approval...
View ArticleKansas ~ Personal Income Tax: Legislature Overrides Veto, Enacts Income Tax...
CCH Tax Day Report The Kansas Legislature has overridden Gov. Sam Brownback’s veto of a bill that makes a number of changes to personal income taxes, including repealing the exemption for non-wage...
View ArticleMichigan ~ Corporate Income Tax: Michigan Supreme Court Denies Review of...
CCH Tax Day Report On June 7, 2017, the Michigan Supreme Court issued an order denying an application for leave to appeal in Andersons Albion Ethanol, LLC v. Department of Treasury, Michigan Court of...
View ArticleNew Hampshire ~ Corporate Income Tax: Credit for Donations to Scholarship...
CCH Tax Day Report New Hampshire has amended its credit against the business profits tax and the business enterprise tax for donations to scholarship organizations. The amendments extend the due date...
View ArticleOregon ~ Corporate Income Tax: Unitary Group Determination Amended
CCH Tax Day Report Oregon has enacted legislation for purposes of the corporate excise (income) tax that allows the Department of Revenue to consider the role of foreign affiliates when making the...
View ArticleSimplified Procedure to Request Relief to Make Portability Election Issued...
CCH Tax Day Report The IRS has issued a simplified procedure for estates requesting an extension of time to make a portability election under Code Sec. 2010(c)(5)(A). If the portability election is...
View ArticleWeekly Report from Washington, D.C.
CCH Tax Day Report The White House predicted tax reform this Fall. House and Senate tax counsel discussed tax reform. The Treasury Inspector General for Tax Administration (TIGTA) reviewed the IRS’s...
View ArticleAlaska ~ Multiple Taxes: DOR Discusses Effects of Potential Government Shutdown
CCH Tax Day Report For purposes of taxes and the unclaimed property law it administers, the Alaska Department of Revenue (DOR) has issued a release detailing the effects of a possible government...
View ArticleColorado ~ Corporate, Personal Income Taxes: Advanced Industry Investment...
CCH Tax Day Report For corporate and personal income tax purposes, Colorado Gov. John Hickenlooper has signed legislation extending the advanced industry investment tax credit by allowing qualified...
View ArticleTennessee ~ Sales and Use Tax: Refunds Available on Certain Items for Sevier...
CCH Tax Day Report As previously reported (TAXDAY, 2017/01/05, S.32), Sevier County residents whose primary and/or secondary residence was damaged or destroyed as a result of the wildfires that...
View ArticleMnuchin Testifies on IRS Budget Before House Appropriations Subcommittee
CCH Tax Day Report Treasury Secretary Steven Mnuchin testified on June 12 before the House Appropriations Financial Services and General Government Subcommittee. Mnuchin discussed with lawmakers the...
View ArticleInsurance Agent Liable for Self-Employment Tax on Termination Payment;...
CCH Tax Day Report An individual, who sold insurance as an independent contractor, was liable for self-employment tax on termination payments he received from his employer. The taxpayer did not meet...
View ArticleMichigan ~ Corporate Income Tax: Revised Interpretation of “Materials and...
CCH Tax Day Report The Michigan Department of Treasury (Department) has issued a notice to taxpayers regarding its revised interpretation of “materials and supplies” under the Michigan Business Tax...
View ArticleMinnesota ~ Corporate, Personal Income Taxes: Withholding Responsibilities...
CCH Tax Day Report The Minnesota Department of Revenue has updated guidance on personal income withholding tax responsibilities related to the classification of wages and employees. Minnesota follows...
View ArticleTexas ~ Motor Fuel Tax: Sales to Unlicensed Purchasers May Be Subject To Tax
CCH Tax Day Report Effective January 1, 2018, the Texas gasoline tax will apply to the sale of certain usually tax-free fuel if the gasoline is sold to an unlicensed purchaser. If the fuel was...
View ArticleTexas ~ Sales and Use Tax: Temporary Employee Service Exemption Amended
CCH Tax Day Report The requirements for a Texas sales and use tax exemption for services performed by an employee of a temporary employment service for a host employer to supplement the host employer’s...
View ArticleProposed Centralized Partnership Audit Regulations Finally Released After...
CCH Tax Day Report The proposed regulations implementing the new centralized partnership audit regime under the Bipartisan Budget Act of 2015 (BBA) have finally been released. The BBA regime replaces...
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