CBO, JCT Release Cost Estimate of Senate GOP ACA Repeal, Replace Bill
CCH Tax Day Report The Congressional Budget Office (CBO) and the Joint Committee on Taxation (JCT) released a cost estimate on June 26 of Senate Republicans’ Better Care Reconciliation Act of 2017...
View ArticlePregame Away Day Meals Were Fully Deductible De Minimis Fringe Benefit...
CCH Tax Day Report A professional hockey team, organized as an S corporation, was entitled to deduct the entire cost of pregame meals for players and personnel at away games. The meals qualified as de...
View ArticleKansas ~ Corporate, Personal Income Taxes: Annual Withholding Due Dates Changed
CCH Tax Day Report Kansas Gov. Sam Brownback has signed legislation changing the due date for filing certain annual withholding tax forms from the last day of February to January 31. Changes governing...
View ArticleKansas ~ Sales and Use Tax: Threshold Filing Amounts Increased
CCH Tax Day Report Applicable on and after January 1, 2018, the threshold filing amounts for retailers to submit sales and use tax returns to the Kansas Department of Revenue are increased. The...
View ArticleLouisiana ~ Multiple Taxes: Research and Development Credit Rate Reduced,...
CCH Tax Day Report Louisiana Gov. John Bel Edwards has signed legislation that makes various changes to the corporate and personal income tax credit for research and development expenses. The changes...
View ArticleLouisiana ~ Multiple Taxes: Inventory Credit Expanded to Include Rental Property
Louisiana Gov. John Bel Edwards has signed legislation that expands eligibility for the inventory tax credit against franchise and income taxes to include tangible personal property owned by a retailer...
View ArticleLouisiana ~ Sales and Use Tax: Exclusion for Precious Metal Coins and Bullion...
Beginning October 1, 2017, sales of platinum, gold, and silver bullion that is valued solely upon its precious metal content, whether in coin or ingot form, are excluded from all Louisiana state sale...
View ArticleSenate GOP Leadership Delays Vote on ACA Repeal Bill
Senate Republican Leadership on June 27 decided to delay bringing the Better Care Reconciliation Act of 2017 to the Senate floor after originally planning for a vote this week (TAXDAY, 2017/06/27,...
View ArticleSupreme Court Docket: Petition for Review Granted in Case of Freight Service...
A petition for review was granted in the following case: C.J. Marinello, II, CA-2, 2016-2 ustc ¶50,453 —An individual who owned and operated a freight service that transported items to and from the...
View ArticleFlorida ~ Sales and Use Tax: Exemption Enacted for Medical Marijuana and...
A Florida sales and use tax exemption is enacted for marijuana and marijuana delivery devices. “Marijuana” is defined as all parts of any plant of the genus Cannabis, whether growing or not, the seeds...
View ArticleLouisiana ~ Corporate, Personal Income Taxes: Rebate for School Tuition...
Louisiana Gov. John Bel Edwards has signed legislation that replaces the rebate for donations to school tuition organizations (STOs) with a nonrefundable income tax credit that is equal to the actual...
View ArticleLouisiana ~ Multiple Taxes: Quality Jobs Program Modified, Termination Dates...
Louisiana Gov. John Bel Edwards has signed legislation that makes various changes to the Quality Jobs Program, which provides corporate income tax, personal income tax, franchise tax, and sales and use...
View ArticleNorth Carolina ~ Multiple Taxes: Governor Vetoes Budget Bill Containing Rate...
North Carolina Gov. Roy Cooper has vetoed the biennium budget bill for fiscal years 2017-2019, which would have reduced corporate income tax rates from 3% to 2.5% and the personal income tax rate from...
View ArticleTrump on ACA Repeal Bill: “I Think We’re Going to Get it Over the Line;”...
President Trump discussed the Senate Republicans’ healthcare overhaul initiative during a June 28 meeting at the White House with tribal leaders on energy. Trump met with 50 Republican senators at the...
View ArticleNational Taxpayer Advocate Releases Mid-Year Report to Congress; IRS’s...
National Taxpayer Advocate, Nina E. Olson, has released her midyear report to Congress. The report contains a review of the 2017 Filing Season, identifies the priority issues the Taxpayer Advocate...
View ArticleWhistleblower Not Entitled to Proceed Anonymously (Whistleblower 14377-16W, TC)
A self-described analyst of financial institutions, who learned of a corporate taxpayer’s claimed tax abuse from publicly available sources, was not entitled to proceed with his whistleblower case...
View ArticleCalifornia ~ Corporate, Personal Income Taxes: Maximum Extension Period for...
The maximum number of months that the Franchise Tax Board (FTB) may grant as an automatic extension of time for filing California partnership returns is increased from six months to seven months,...
View ArticleKansas ~ Personal Income Tax: Income Tax Rate, Withholding Rate Changes...
The Kansas Department of Revenue has issued a notice explaining that the personal income withholding tax tables have been amended as a result of recently enacted legislation that increased personal...
View ArticleMississippi ~ Sales and Use Tax: Second Amendment Sales Tax Holiday Set for...
The 2017 Mississippi Second Amendment Weekend (MSAW) sales tax holiday will take place between 12:01 a.m. Friday, August 25, 2017, and 12:00 midnight, Sunday, August 27, 2017. During this holiday...
View ArticleHouse Appropriations Subcommittee Approves $11.1 Billion FY 2018 IRS Budget,...
The House Appropriations Financial Services and General Government Subcommittee held a June 29 markup of the fiscal year (FY) 2018 government appropriations bill that was released by the full committee...
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