House Lawmakers Introduce Bipartisan ACA-Related “Compromise Plan”
The Problem Solvers Caucus, a bipartisan group of 40 House lawmakers, introduced a “compromise plan” on July 31 to address problems in the Patient Protection and Affordable Care Act (ACA) (P.L....
View ArticleCalifornia Competes Tax Credit and Market-Sourcing Rules Discussed
In its August 2017 issue of Tax News, the California Franchise Tax Board (FTB) discusses a variety of corporation franchise and income and personal income tax issues, including the following: –...
View ArticlePennsylvania Senate Passes Marketplace Provider Sales and Use Tax Collection...
The Pennsylvania Senate has passed an omnibus tax bill that includes provisions requiring marketplace providers to collect sales and tax; exempting certain technical support services from sales and use...
View ArticleNew Nexus Standard for Washington B&O Tax Discussed
The Washington Department of Revenue has provided guidance on the new test for determining whether an out-of-state business is subject to Washington’s business and occupation (B&O) tax. The test...
View ArticleSenate Democrats Outline Principles for Bipartisan Tax Reform
In an August 1 letter to President Trump, Senate Majority Leader Mitch McConnell, R-Ky., and Senate Finance Committee (SFC) Chairman Orrin G. Hatch, R-Utah, Senate Democrats outlined their conditions...
View ArticleSenate Leaders Talk Tax Reform; Health Care Not Over, McConnell Says
Senate Republicans are planning to move tax reform legislation through the budget reconciliation process this fall, Senate Majority Leader Mitch McConnell, R-Ky., told reporters on August 1. Only 50...
View ArticleKansas Announced Local Sales and Use Tax Rate Changes
Kansas Department of Revenue publications reflect local sales and use tax rate changes effective October 1, 2017. The publications also: (1) detail how to read jurisdiction codes in the Department’s...
View ArticleVirginia Addresses Corporate Income Tax Return Extensions
The Virginia Department of Taxation has issued a tax bulletin explaining the impact of recent federal legislation and administrative action by the IRS on the Virginia corporate income tax filing...
View ArticleWisconsin Increases Vehicle Dealer Measure of Use Tax
A Wisconsin Department of Revenue bulletin announces that the motor vehicle dealers’ measure of use tax will be increased from $154 to $157 per plate per month, effective January 1, 2018. The bulletin...
View ArticleIRS CI Division Chief Unveils International Tax Enforcement Group
The IRS Criminal Investigation Division (IRS-CI) is putting together a new international tax enforcement group, according to IRS-CI Chief Don Fort. This information was revealed publicly to reporters...
View ArticleLosses and Fees Associated with CARDS Transactions Not Deductible (Curtis...
A partnership and its partners were not allowed to deduct the losses and fees associated with Custom Adjustable Rate Debt Structure (CARDS) transactions. The taxpayers had a substantial capital gain...
View ArticleDC enacts lodging tax, repeals parking tax increase
The District of Columbia will impose an additional lodging tax and has repealed the upcoming increase in the parking sales tax rate. Due to enacted budget legislation, an additional 0.3% lodging tax...
View ArticleFootball team required to pay sales tax on total amount received for ticket
A taxpayer that was a professional football team was required to pay Missouri sales tax on the total amount the taxpayer received from its ticket sales, which included a local entertainment license...
View ArticleOhio’s Commercial Activity Tax Applies to Forward Contracts
The Ohio Board of Tax Appeals held that an agriculture commodities trader was liable for the commercial activity tax on receipts that the trader made from entering into forward contracts. Ohio imposes...
View ArticleIssuers May Voluntarily Report Catastrophic Exchange Coverage in 2017 (Notice...
All persons providing minimum essential coverage (such as issuers) are required to file annual information returns with the IRS reporting certain information, including information that identifies each...
View ArticleNonqualified Stock Options, Contract Ratification Payments Not Subject to...
A rail carrier was entitled to a refund of railroad retirement taxes that it paid on company stock it used to compensate employees. The Railroad Retirement Tax Act (RRTA) does not require the tax to be...
View ArticleBooneville, MS Taxes Restaurants and Hotels
The City of Booneville, Mississippi, has passed a 2% tax on the gross sales proceeds of restaurants and the gross proceeds of hotels and motels from room rentals, effective September 1, 2017. Sales Tax...
View ArticleU.S. Supreme Court Asked to Review NY Taxes on Adult Entertainment
The U.S. Supreme Court has been asked to review an unreported order of the New York Court of Appeals which dismissed a sales tax appeal for want of a “substantial constitutional question” and denied a...
View ArticleOklahoma Tax Amnesty Rules Issued
The Oklahoma Tax Commission issued emergency rules that explain how its three-month, tax amnesty program will work. Under the program, the commission will waive penalties and interest for several tax...
View ArticleInformation Retrieval Products Are Subject to Pennsylvania Sales and Use Tax
The Pennsylvania Department of Revenue has concluded in a legal letter ruling that a taxpayer’s information retrieval products are subject to sales and use tax as tangible personal property. The...
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