The COVID-19 pandemic has increased the risk of noncompliance in an evolving sales and use tax compliance landscape.
The COVID-19 pandemic has increased the risk of noncompliance in an evolving sales and use tax compliance landscape.
The COVID economy and virtual transformation may provide the right opportunity to take control of supply chain management.
New state governments set to tackle raising revenue through new and increased taxes coupled with tax-related ballot measures.
State tax planning opportunities to consider in light of COVID-19, the resulting economic crisis and evolving tax laws and regulations.
Four states have adopted or are considering budgets without significant tax increases even considering pandemic shortfalls.
New Hampshire files challenge over Massachusetts regulation taxing telecommuting nonresidents with U.S. Supreme Court.
Tax planning opportunities for consideration in light of COVID-19, the resulting economic crisis, and evolving tax laws and regulations.
Looming budget shortfalls coupled with tax-related ballot measures in many states could significantly affect 2021.
Annual license renewals will be required for certain taxes, including the sales tax, sellers use tax and the simplified sellers use tax.
A business did not owe tax on service contract fees, finding the receipts were sourced out-of-state rather than to in-state customers.
Join this webcast to explore the impact of state tax policy on wealthy individuals, including fund executives and business owners.
General Motors will refund Ohio $28 million in tax benefits after closing an assembly factory before the end of an incentives agreement.
Extension of corporate surtax and expanded millionaire’s tax assists New Jersey with significant budget deficit caused by the coronavirus.
A recent proposal would simplify how private-company franchisors analyze their performance obligations in accordance with ASC 606.
Understanding the history of state transfer pricing can help those with intercompany transactions prepare for the future.
State tax increases in various forms seem inevitable because of massive budget shortfalls caused by the pandemic and economic crisis.
Transfer pricing audits are occurring more frequently and are expected to increase as the states look to recover from the pandemic.
Delaware letters advise companies to either participate in the state’s unclaimed property VDA Program or be subject to an audit.
Legislation adopts several new credit and incentives programs as well as creates a new property tax incentive.
The Tennessee Department of Revenue issued guidance on the state’s conformity to section 163(j) of the Internal Revenue Code.
Taxpayers have until Sept. 15, 2020 to participate in the program that may reduce transfer pricing disputes and provide penalty waiver.
The future of state and local incentives in a post-pandemic economy will be highly influenced by remote workforces – states may act soon.
An executive order was issued directing the deferral of payroll tax payments. Follow up guidance from the Treasury Department is expected.
Eligible businesses that did not receive certain other COVID-19 relief may qualify for grants up to $250,000.
New legislation allows nonprofit employers to pay 50% of their unemployment reimbursing payment obligations to states.
The department found the business did not engage in qualifying research or submit proper documentation to substantiate the claim.
Tax law and policy changes may increase state and local taxes for many businesses as states look to make up pandemic shortfalls.
A judge found that taxpayers did not abandon their residency and were therefore still subject to Arkansas personal income tax.
Finalized legislation will evolve but the proposal is a starting point for bipartisan negotiations for a new round of economic relief.
Seattle payroll expense tax to be imposed on employee compensation of at least $150,000 for businesses with $7 million or more in payroll.
The state will decouple from CARES Act net operating loss, interest expense and excess business losses provisions.
The Community Development Financial Institutions Fund announces over $3.5 Billion in New Markets Tax Credit allocation.
Taxpayers that properly secured a first extension may file a request for a second extension on or before Aug. 17, 2020.
California Office of Tax Appeals determined that a construction company could not use a resale certificate for material purchases.
Expanded eligibility ending Nov. 30, 2020 presents an opportunity for businesses to come into compliance with certain state taxes.
Applications to sell unused state net operating losses and state research and development credits available the week of May 1, 2020.
Revised conformity excludes certain net operating loss and excess business loss provisions effective for 2019 tax years.
Mississippi will require marketplace facilitators to register to collect and remit sales and use taxes beginning July 1, 2020.
The state will decouple from the taxpayer-friendly interest expense and net operating loss provisions of the federal CARES Act.
Expansive tax bill provides taxpayer-friendly changes while balancing reduced tax revenue in the COVID-19 economy.
Fiscal year 2021 budget includes temporary tax changes in order to generate much needed revenue in the COVID-19 economy.
New York enacts legislation further decoupling New York City corporate and UBT taxes from certain CARES Act provisions.
Refundable credit receives taxpayer-friendly updates, including increased availability and extended application deadline and sunset dates.
Delaware notices advise businesses to either participate in the state’s unclaimed property VDA Program or be subject to an audit.
The state responses have created a fragmented landscape of thresholds and compliance obligations with more questions than answers.
Louisiana will require marketplace facilitators to register and collect and remit the state and local sales tax beginning July 1.
Depleted trust fund balances due to COVID-19 may cause state legislatures to act now to prevent further reductions.
Taxpayer permitted alternative apportionment when calculating Michigan sourced income from the sale of an out-of-state business.
As businesses increase the use of remote workforces, nexus and withholding determinations can greatly complicate state tax compliance.
President held personally liable for unpaid income tax withholding even after another corporate officer found responsible.
Effective July 1, Maryland has exempted from sales and use tax the sale of certain personal property to qualified data centers.
A sales tax bad debt analysis and review can provide necessary cash flow for many businesses in a distressed economy.
Services performed in Detroit for clients located outside the city should be sourced to Detroit for purposes of the city’s income tax.
Manufacturers changing over operations in order to create personal protective equipment may be exposed to new state tax liabilities.
Businesses buying or selling real estate should be aware of the transfer taxes that accompany those transactions.
Understanding the myriad of Net Operating Loss rules and regulations is increasing important, especially in a distressed economy.
The Louisiana Sales and Use Tax Commission announced guidance for remote sellers exceeding the nexus thresholds beginning July 1, 2020.
The elective tax is intended as a state and local tax deduction limitation workaround, joining six other states with similar provisions.
First-of-its-kind tax would have imposed a gross receipts tax on large companies purchasing digital advertising in Maryland.
Ten-year net deferred tax liability deduction may be claimed beginning in 2023 as long as Form DT-1 is timely filed by July 1, 2020.
When determining whether an S corp distribution is a dividend, Arkansas taxpayers must use state-specific AAA rather than federal AAA.
Employers should use the updated Form 941 to properly report new CARES Act and FFCRA credits beginning in the second quarter of 2020.
Proposed budget would freeze planned rate reductions and calls for a non-resident wage tax increase to offset the impact of COVID-19.
Taxpayer-friendly measures provide interest waivers, extension of limitations periods and assistance to impacted businesses.
State nexus, income characterization and sourcing all potential and material concerns for businesses holding remote meetings.
The federal five-year NOL carryback may have substantial ramifications on state income tax returns beyond simple conformity.
The Arizona Court of Appeals upheld a lower court finding that a CEO was responsible for unremitted transaction privilege tax.
The COVID-19 pandemic may relieve recipients of tax incentives from the recapture provisions under the Nebraska Advantage Act.
New or broader sales taxes or gross receipts taxes on digital goods and services may provide states much needed revenue.
Emergency regulations and technical guidance provide clarifications for telecommuter withholding and nexus safe harbors.
Many employers are transitioning to virtual internship programs due to the COVID-19 crisis. Understand the state and local tax consequences.
The decision may impact sourcing positions taken by the financial service industry for New York State and New York City tax purposes.
Maintaining static conformity to the IRC, Wisconsin adopts several taxpayer-friendly provisions of the federal CARES Act.
Remote programming employee directly impacted an Arkansas employer's ability to carry out its mission and purpose.
Corporate taxpayers filing a consolidated return have an added layer of rules to navigate when carrying back a net operating loss.
Taxpayers should consider the state and local tax controversy opportunities and considerations created by the COVID-19 pandemic.
Easing some of the industry’s widespread financial pressures from a state and local tax perspective may increase cash flow.
Temporarily increased federal limits on business interest deductions under section 163(j) may impact some state taxpayers.
The bills address the state's IRC conformity as it relates to new federal section 163(j) limitation rules, among other provisions.
Changes to the federal net operating loss rules under the CARES Act create state tax risks and opportunities for many businesses.
Three recent cost of goods sold cases represent the highly nuanced nature of the Texas franchise tax calculation.
State tax cash-flow maximization and risk minimization are available for private equity groups and their portfolio companies.
Cash-flow maximization and support opportunities are available to the fashion and beauty industry reeling from COVID-19.
Employer social security payroll tax payment deferral for taxes incurred from March 27th through Dec. 31, 2020.
Income and sales tax refund reviews may help companies improve cash flow in the short term and provide savings in the long term.
Delaware notices advise companies to either participate in the state’s unclaimed property VDA Program or be subject to an audit.
State tax considerations and opportunities as the pandemic impacts grocer revenues, supply chains and employment.
Employees working remotely due to the COVID-19 pandemic may result in income tax consequences to both the employee and the employer.
State and local tax filing and penalty relief guidance in response to COVID-19 has accelerated as deadlines approach.
Immediate and retroactive expensing of qualified improvement property creates tax saving opportunities for taxpayers.
State and local tax opportunities are available for restaurants for cash flow maximization and support during the pandemic.
State and local tax strategies may alleviate some of the economic consequences of COVID-19 on the manufacturing industry.
Businesses in the technology industry may benefit from a roadmap of cash-flow maximization considerations during the COVID-19 pandemic.
Law firms and professional services businesses are experiencing challenges with the COVID-19 pandemic, creating state and local tax issues.
Immeasurable operational challenges face the industry as some sectors see opportunities while others see risk.
Today, the House of Representatives passed the CARES Act on a voice vote and the President signed the bill enacting it into law.
Federal income tax filing and payment relief extension to July 15, 2020 may not apply to all state income tax filings.
Financial services businesses providing software and services to Illinois customers may have multiple transaction tax obligations.
Limited sales and use tax filing and payment relief has been included in some of the state and local COVID-19 response guidance.
Congress, the White House and Treasury have taken action to assist businesses and individuals cope with business issues.
New proposed regulations provide helpful examples of business entertainment and meals deductions still permissible after TCJA restrictions.
Publicly traded companies located in Illinois may be subject to new demographic reporting requirements by Jan. 1, 2021.
Massachusetts rejects change in domicile after Florida home purchase, driver’s license change and new voter registration.
Department issued compliance alert explains the sales and use tax collection responsibilities for marketplace facilitators and sellers.
Last year’s service-based and advanced computing business surcharges receive significant makeover after public concern.
Online software products allowing remote access to a host computer as well as screen sharing capabilities were taxable.
Fund management companies face difficult challenges in determining their state income tax filing obligations and apportionment rules.
Six weeks after enacting significant tax changes, the Utah legislature and governor repealed the entire tax reform package.
This article discusses state, county, and local-level credits and incentives a company should consider in evaluating investment into the US.
The Wayfair decision goes beyond just retail and can impact manufacturers that sell exempt to resellers or distributors.
Corporate income tax regulations provide procedures for pass-through entities to elect to be taxed as C corporations.
Holders of IRAs may need to withhold 10% federal tax and file Form 1099-R when escheating certain IRA distributions.
Favorable classification available for retailers selling private label products and consumer products companies using contract manufacturing
Three states have prescriptions for opioid taxes on manufacturers and distributors. Here’s what you need to know.
In the event of an economic slowdown, how should taxpayers consider adjusting their pursuit of credits and incentives?
New Jersey becomes the sixth state to adopt an entity-level tax establishing a workaround to the federal SALT deduction limitation.
It should be easy to know where you live, but for state personal income tax purposes, the question becomes “where are you domiciled?”
Taxpayers with filing deadlines should carefully consult state taxing authority rules and regulations on timing filings.
Massachusetts Department of Revenue issues final guidance on application of section 163(j) Interest Expense Limitation.
The Texas Comptroller adopted a $500,000 economic nexus threshold for the state's franchise tax effective in 2020.
Both incentive programs were scheduled to sunset in 2019; receive a one-year extension under federal tax bill.
House bill, if enacted, would increase SALT deduction cap in 2019 for certain taxpayers and repeal SALT deduction cap for 2020 and 2021
Companies investing in the U.S. must consider how the new regime of state and local sales and use tax nexus may affect their organization.
Certain perishable meat manufactures, processors, and sellers may be eligible for a reduced business and occupation tax rate.
In the rush to take advantage of the qualified opportunity zones program, taxpayers may overlook the benefits of state and local tax credits
The Michigan Department of Treasury issued a letter ruling detailing the sales tax treatment of various information services.
The FTB ruled that limited partnerships disregarded for federal income tax purposes are not subject to minimum tax or filing requirements.
Final regulations on new sales and use tax registration and collection requirements address remote retailers and marketplace facilitators.
After years of litigation, a state appellate court again declared Pennsylvania’s flat dollar cap for net loss carryover unconstitutional.
Retailers should assess gift card procedures including an annual review of reporting, sales tax, unclaimed property and more.
Ohio backtracks on eliminating business income deduction for certain taxpayers after concerns over enforcement and application surface.
New law for sourcing sales of services and intangibles effective with tax years beginning on or after Jan. 1, 2020.
North Carolina joins more than 30 states adopting a marketplace facilitator nexus provision effective Feb. 1, 2020.
The Massachusetts Department of Revenue establishes a $500,000 threshold for state corporate excise tax nexus.
Join us for a discussion of 2019 state tax legislative developments and their implications on middle market businesses.
Understand the critical legislative updates and changes from 2019 affecting state and local tax planning and compliance.
As of Jan. 1, 2019, foreign non-resident taxpayers conducting business in Quebec are required to register for the Quebec Sales Tax.
A business guide to tax considerations for 2019 to help make informed decisions after the Tax Cuts and Jobs Act.
Market-based sourcing effective for periods ending on or after Dec. 31, 2021, for the Business Enterprise Tax and the Business Profits Tax.
Minnesota tax-exempt organizations may find some relief knowing that the state does not conform with two major federal changes.
The increasing trend of gross receipts taxes in West Coast states and cities, including recent enactments and enhancements.
Pennsylvania Department of Revenue issues guidance that administratively implements economic nexus for corporate net income tax.
Wisconsin published final regulations on corporate income tax nexus. The new regulations establish 15 day activity threshold.
State enacts “ABC test” for determining when employees are considered independent contractors; prior test still used for some industries.
This webcast will focus on examining the effect of tax reform on pass-throughs at international, state and local levels.
Arizona Supreme Court finds online travel companies must collect tax on service fees and mark-ups paid to book hotel rooms.
Recent activity among state and local gross receipts taxes may signify that a historic approach to taxation is ready to be a new trend.
Department of Revenue Services releases guidance addressing increased sales and use tax rate for certain digital goods and services.
CDFI Fund opens final round of allocation before program is scheduled to expire; extension efforts underway in Congress.
Beginning in 2020, some individual taxpayers working remotely in Illinois will have a 30-day safe harbor from the state income tax.
New Jersey Division of Taxation rescinds unpopular GILTI and FDII allocation guidance issued in December; new guidance expected shortly.
Senate Bill 1591 provides an income tax credit for qualified apprentice education expenses through Dec. 31, 2024.
Amnesty programs will run through Nov. 15, 2019, and offer qualifying taxpayers complete waiver of interest and penalties.
The state has indicated that it will enforce economic sales tax nexus on Oct. 1, 2019, without a minimum sales or transaction threshold.
Senate Bill 523 provides a definition for certain digital goods and clarifies tax treatment for items without a tangible equivalent.
Washington Court of Appeals determined the graduated income tax to be impermissible under a uniformity requirement.
The District enacts emergency legislation implementing the FY20 budget and modifying incentives for qualified high technology companies.
Budget bills address pass-through entity tax, sales tax base and nexus changes, tax credits and reporting obligations.
Ohio budget bill makes a number of changes to Ohio’s tax code expecting to result in millions in tax cuts; sales tax nexus addressed.
Reminder of Manitoba’s retail sales tax transition rules for one-percent rate reduction effective July 1, 2019.
Amendments extend the tax abatement an additional five years, provides for an enhanced abatement and makes minor other changes.
The California fiscal year 2020 budget addresses TCJA conformity and other new and amended state tax provisions.
View this RSM recorded webcast for an interactive discussion on how the Supreme Court’s decision will affect taxation of trusts.
Hawaii becomes the first state to adopt a $100,000 sales or 200 transaction threshold applicable to the state’s income tax.
California amends the effective date for district remote seller nexus requirements; offers penalty relief for certain marketplace sellers.
Budget bills address pass-through entity tax, sales tax base and nexus changes, tax credits and reporting obligations.
The new pass-through entity level tax may benefit some individuals subject to the $10,000 SALT deduction limitation.
Marketplace facilitators liable for sales tax collection; budget compromises avoid certain proposed tax increases on businesses.
The 2019 legislature passed several tax changes, issued marketplace facilitator rules and provided additional credits and incentives.
High court allows Minnesota Supreme Court decision finding so-called “grantor-domicile” rule unconstitutional to stand.
Learn more about the recent South Dakota v. Wayfair, Inc. U.S. Supreme Court decision and how it could affect private clubs.
New York enacts legislation exempting 95% of GILTI and increases the sales component of the economic sales tax nexus threshold.
Highly-anticipated trust taxation case considers whether a state can tax a trust based on the residency of a beneficiary.
Modernization addresses Alabama’s Opportunity Fund, Jobs Act Credit, federal opportunity zones and other incentive provisions.
Pass-through entity tax election for the 2019 tax year due June 28, 2019; election window will close until next calendar year.
Effective for tax years beginning after Dec. 31, 2019, market-based sourcing adopted for services and intangibles.
Minnesota’s long-awaited conformity bill presents new challenges for individual and corporate taxpayers; remote seller provisions modified.
Alabama makes significant reforms to the Financial Institution Excise Tax by establishing estimated payments and redefining net income.
Certain domestic holding companies can be excluded from the combined return, but pending legislation would limit the decisions.
The Historic Rehabilitation Credit, Quality Jobs Tax Credit, and Manufacturing Investment Tax Credit are all impacted by new legislation.
U.S. businesses providing certain services and digital goods to individuals in Quebec may have Quebec sales tax compliance obligations.
Modifications to tax on real estate sales, financial institutions, international investment management, nonresident sales tax and others.
Certain service-based businesses and large advanced computing companies should expect to pay a higher B&O tax beginning in 2020.
The Community Development Financial Institutions Fund announces $3.5 billion in New Markets Tax Credit allocation.
Program offers credit against the corporation business tax and the gross income tax for certain digital media content expenses.
Tax will significantly affect any business with Oregon-sourced commercial activity, as state seeks to raise over $1 billion in new revenue.
Colorado adopts RUUPA with minor variations; shortens dormancy for many property types, and eliminates the standard deduction.
Justices express concern over North Carolina’s tax on the undistributed trust income earned for the benefit of a resident.
Unclaimed property trends and modernization are highlighted at the 2019 Unclaimed Property Professionals Organization conference.
Budget bill address GILTI, qualified manufacturers, sales tax nexus, personal income tax rate extensions and property tax rate caps.
Kentucky addresses IRC conformity, amends various income tax provisions and enacts marketplace provider nexus.
Tax bill reduces corporate tax rate and adopts single-sales factor apportionment and NOL changes; enacts remote sales tax provisions.
The New Jersey Division of Taxation's website for the mandatory registration of a combined group by its managerial member is now available.
Tax bill reduces nexus thresholds and amends provisions of the business and occupation tax; addresses remote sales tax collection.
Department clarifies that the high-technology data center equipment exemption is available to customers of data centers.
Legislation enacts Wayfair-styled economic sales tax nexus thresholds and marketplace facilitator provisions, effective July 1, 2019.
Legislation would have addressed various tax reform provisions, conformity, and remote seller sales tax nexus.
Economic sales and use tax nexus laws are gaining momentum as states make a direct challenge to traditional physical presence standards.
Listen to business and professional services tax professionals provide analysis of tax issues affecting the industry.
Complaint alleges 2017 nexus regulation is not in line with anti-retroactivity element of the Wayfair decision.
New and increased San Francisco gross receipts taxes take effect in 2019; economic nexus standard of $500,000 adopted.
The bill decouples from the SALT deduction cap, increases the standard deduction and addresses GILTI and 163(j) income.
New life sciences businesses can earn up to a maximum tax benefit of $1.5 million in tax credits over three years.
Recent Iowa tax reform expanded the sales tax base to include certain digital products and services; enacted remote seller nexus law.
Master service and related agreements raise ownership questions as well as question as to qualification under secs. 199A and 1202.
Sales and use tax registration and collection are required when a remote seller exceeds $300,000 of sales in over 100 transactions.
New Jersey Division of Taxation provides updates to its section 965 reporting procedures in an effort to streamline compliance obligations.
Revenue Procedure 2019-12 provides a safe harbor for businesses to deduct quid pro quo contributions under section 162.
Texas amends nexus rules providing for a $500,000 sales threshold for remote sales tax collection, effective Oct., 2019.
Economic sales tax nexus enforcement to begin on April 1, 2019 with adoption of $100,000 sales or 200 transaction thresholds.
Rate reduction triggered after revenue metrics achieved; draft TCJA guidance published addressing the personal income tax.
Workaround aims to address the federal $10,000 SALT deduction cap; enacts economic nexus for out-of-state retailers.
The Wayfair decision doesn’t just affect online retailers. Technology businesses must address resulting state sales taxes, too. Learn more.
Amended rules address apportionment and allocation of income from partnership interests owned by corporate partners.
City of Philadelphia proposes economic nexus amendments to the city’s Business Income and Receipts Tax (BIRT) Ordinance.
New refundable and transferable state income tax credit available to taxpayers that suffered casualty losses of timber.
Tax Amnesty program begins Nov. 15, 2018 and runs for 60 days; offers waiver of penalties and reduced interest.
California conforms to the federal audit reporting rules for partnerships, and the Franchise Tax Board provides tax payment confirmations.
San Francisco voters approved Proposition C, the Homelessness Gross Receipts Tax Ordinance, effective Jan. 1, 2019.
The supplemental budget bill addresses the inclusion of global intangible low-taxed income for personal and corporate income tax purposes.
Several proposals in Congress would regulate, delay, or clarify remote sellers sales tax collection obligations.
South Dakota and the three online retailer taxpayers party to the Wayfair litigation reach an agreement to begin sales tax collection.
The Kentucky Department of Revenue issued guidance for the new credit for ad-valorem taxes paid on certain inventories located in the state.
Franchise Tax Board further modifies existing guidance for business entity members of LLCs following the Swart decision.
Economic sales tax nexus is complicated following Wayfair. Brush up on the change and take a 5-question quiz to identify next steps.
Legislation enacted through a veto override extends and amends certain credit programs, and creates a new agribusiness credit.
Understand the critical legislative updates and changes from 2018 affecting state and local tax planning and compliance.
Join RSM for a complimentary webcast on Oct. 10 as we review significant state tax legislative changes that affect your business.
New Jersey enacted GILTI conformity and various other corporation business tax changes; provided guidance on 965.
Payroll tax aimed at offsetting state and local tax deduction cap for individuals begins to take shape; election required for 2019.
New Jersey enacts remote seller sales tax nexus provisions previously announced in guidance, effective Nov. 1, 2018.
The Georgia Department of Revenue has issued guidance on the state’s new economic sales tax nexus provisions effective Jan. 1, 2019.
Michigan Department of Treasury issues guidance regarding a purchaser’s successor liability for the unpaid taxes of an acquired business.
The IRS announced tax relief, including extended deadlines, to certain North Carolina counties impacted by Hurricane Florence.
Tax Court finds that PFIC gains are not included in current-year gross income and losses from PFIC shares do not offset gains.
Businesses are spared the effects of proposed regulations intended to curb charitable contributions made in exchange for state tax credits.
Litigation preventing enforcement of Indiana’s economic sales tax nexus law ends as litigants settle with the department.
What state and local tax considerations can greatly affect business and professional services providers? Learn more.
Proposed regulations curtail state laws that circumvent the SALT deduction cap by crediting charitable contributions against state taxes.
Business and professional services providers should consider whether sales tax collection is necessary in the wake of the Wayfair decision.
Washington state will require out-of-state businesses meeting a Wayfair-style sales or transaction threshold to collect sales tax.
The elimination of the sales and use tax physical presence could have a profound impact on the tax compliance obligations of auto suppliers.
Join RSM for a webcast on July 17 as we discuss the South Dakota vs. Wayfair decision and how it will affect our clients.
Major provisions include the state response to federal tax reform, market-based sourcing, and a tax amnesty program.
Join RSM for a webcast on June 28 as we discuss the South Dakota vs. Wayfair decision and how it will affect our clients.
Economic sales tax nexus laws permitted by the Court; physical presence sales tax nexus is no longer the Constitutional standard.
Provides additional considerations when determining a person’s residency, reinstates the direct appeal from Ohio BTA to Ohio Supreme Court.
UEZ benefits extended for all expiring zones to Dec. 31, 2023; review of return on investment of UEZ program established.
The effort to impose a surtax on incomes over a million dollars would have generated an estimated two billion in yearly revenue.
Two tax-related bills enacted on former governor’s last day in office addressing corporate income tax and telecommunications companies.
Due to recent legislation, pass-through entities are now required to make estimated tax payments throughout the course of the tax year.
Illinois’ FY19 budget legislation easily passes the general assembly with minor tax changes, including sales tax nexus expansion.
State tax reform package includes two workarounds to the state and local tax deduction limitation; decouples from TCJA provisions.
After several months of debate, the governor and state legislature agreed to a tax reform package largely addressing federal tax reform.
Qualified remote sellers with Indiana inventory may apply for a special sales and income tax voluntary disclosure.
Taxpayers who have already filed a 2017 tax return and included the section 965 amounts should amend their return.
IRS warns taxpayers that federal law controls the characterization of payments made in exchange for state and local tax deductions.
Mayor expected to sign employee “head tax” on businesses with Seattle sourced taxable gross income exceeding $20 million.
Taxpayer appeals the Pennsylvania Supreme Court's remedy after finding the net loss carryforward unconstitutional.
Kentucky taxpayers subject to the corporate income tax could be significantly impacted and additional changes could come.
Washington Department of Revenue encourages remote sellers to come forward by offering penalty reduction and limited look back.
Maryland continues single-sales factor apportionment adoption trend; includes five-year phase-in beginning with the 2018 tax year.
Tax amnesty to run through June 29, 2018, provide relief from interest and penalties for certain liabilities occurring before Jan. 1, 2018.
The Franchise Tax Board issued the fourth and final report on the state’s conformity to the Federal Tax Cuts and Jobs Act of 2017.
While Fulfillment by Amazon can provide advantages to consumer products businesses there are key areas you should address to ensure success.
U.S. Supreme Court hears oral arguments on challenge to Quill’s sales tax physical presence nexus standard; decision expected in June.
Eligible businesses may subtract certain property, payroll and sales from apportionment factors to reduce state taxable income.
California proposes first unclaimed property voluntary disclosure program in over ten years; would offer waiver of interest and penalties.
Responding to federal tax reform, New York addresses the state and local tax deduction and the new federal international tax provisions.
The recent passage of comprehensive federal tax reform has taxpayers evaluating the impact of the new rules on their current tax positions.
Taxpayers often experience compliance challenges, but managing risks affords taxpayers an opportunity to get ahead of common CAT missteps.
When considering this technique to accomplish a tax-free asset distribution, favorable IRS rulings have become more difficult to obtain.
As filing dates come closer and state legislative responses stall, more states are providing guidance on conformity to section 965.
Indiana enacts law exempting the right to remotely access prewritten computer software from Indiana’s seven percent sales and use tax.
RSM's key takeaways on unclaimed property trends while at the 2018 Unclaimed Property Professionals Organization annual conference.
Nebraska aims to better understand its return on investment with improved performance auditing of tax incentives
Following up on another recent tax bill, Idaho updates conformity for 2018 tax years, and reduces personal and corporate tax rates.
California Franchise Tax Board issues first of three reports discussing implications of recent federal tax reform.
Alabama’s tax amnesty program will apply to most taxes, provide penalty and interest waiver, and run for three months beginning in July.
Michigan responds to federal tax reform, maintains and increases the state personal exemption for the 2018 tax year.
The best part of giveaways is that they are free to the fans – no increased ticket price, and more importantly, no sales tax! But does that mean ...
Virginia and West Virginia legislation aims to address state conformity with federal tax reform, but take markedly different approaches.
Qualifying New Jersey technology and biotech companies may sell unused NOLs and R&D credits to certain corporate taxpayers.
FTB provides state guidance on federal tax reform addressing the medical expense deduction, the SALT deduction and repatriation.
Idaho enacts legislation updating conformity with the IRC, cherry-picking new provisions enacted under federal tax reform.
Businesses with multistate employees should understand the reporting and remittance nuances of a complex unemployment taxing regime.
Bill targets strategies focusing on the implementation and adoption of blockchain, cryptocurrency, and financial technologies in Vermont.
Learn ways to address your sales and use tax obligations related to digital goods and services provided by your technology business.
Taxpayers taking the new 20 percent deduction for pass-throughs and other non-corps may not reap any benefit for state tax obligations.
Commercial Rent Tax benefits include increase in tax exemption threshold amount and credit for certain lower rents and incomes.
With the passage of federal tax reform, both business and personal income taxpayers will need to consider how the federal changes will affect state...
Tax reform has been signed into law. Read RSM’s summary of the major business, international and individual tax provisions.
State erred by sourcing an online university’s revenue based on market sourcing rather than the location of its income-producing activities.
The Ohio Supreme Court provides guidance on determining whether temporary labor is assigned on a permanent basis.
The high-income earners tax, currently scheduled to go into effect on Jan. 1, 2018, has received multiple challenges since passing.
Florida Supreme Court found the CST constitutional, even though it imposes a higher tax rate on satellite companies than cable companies.
Economic sales tax nexus regulation applies to remote sellers performing certain activities and making sales over $250,000 into the state.
Earlier this spring, Florida Gov. Rick Scott signed House Bill 7109, providing for a reduction in the real property rental sales tax effective Jan....
Effective Nov. 1, 2017, the District of Columbia Office of Tax and Revenue has revised the Qualified High Tech Company (QHTC) sales and use tax ...
One of the standout changes enacted by Ohio's House Bill 49 was a new election to participate in the Ohio Department of Taxation’s central ...
Tax bill closes budget shortfalls by limiting net loss carryforwards and enacting remote seller and use tax reporting provisions.
Rental-purchase agreement sales taxes align treatment of rentals with most other states; provide for transition credit.
Pennsylvania Supreme Court finds net loss carryforward limitation unconstitutional; severs fixed dollar amount cap.
Illinois' Invest in Kids Act provides favorable corporate and individual income tax credits for qualified contributions to scholarship granting ...
California taxpayers located in several counties are eligible for disaster-related benefits such as filing and payment extensions.
The MTC has extended the deadline for certain retailers selling through an online marketplace to apply for state tax amnesty.
Review legislative changes and other tax concerns that affect 2017 tax compliance and how to plan for 2018. Download our guide.
In 2015, Washington state made sweeping changes to its unclaimed property law and opened an amnesty program. Unclaimed property holders that did ...
Federal tax reform is a major talking point in the new administration; how and when that reform is enacted could dictate state responses.
Delaware recently released a statement indicating intentions to identify and contact noncompliant unclaimed property holders. Notified holders are ...
Anticipated regulations address unclaimed property examinations; create deadlines for holders to convert examinations and enter into VDAs.
Understand legislative changes that may affect your 2017 state and local tax compliance and 2018 planning. Download our guide.
Retailer merchandise credits were similar to “gift certificates” and not subject to escheat under state’s unclaimed property law.
”Cookie nexus” regulation becomes effective following withdrawn policy directive; sales threshold measured from 12 months preceding Oct. 1.
Attend this RSM webcast on Sept. 26 for a review of significant state tax legislative changes critical to your business.
Ohio Development Services Agency announces fiscal year 2018 workforce training program application period; $25,000 in maximum grants.
Wisconsin enacts legislation intended to promote growth in the state and close budget gaps with both tax reductions and increases.
Illinois extends sunset of the Economic Development for a Growing Economy and Angel Investment tax credits for an additional five years.
In response to the devastation from Hurricane Harvey, the IRS, Texas and other states have provided guidance on extended filing deadlines. Texas ...
The South Dakota Supreme Court rejects a law directly challenging Quill v. North Dakota’s physical presence nexus standard.
New Jersey has highlighted and extended a doctrine that may benefit taxpayers when states retroactively apply new laws.
Department of Taxation provides details on amnesty-eligible taxes, periods and disqualifications; explains payment procedures.
When the 2017 legislative session kicked off in January, states were not yet discussing tax amnesties as a mechanism to relieve budget deficits and...
Potential refund opportunities for taxpayers calculating a non-income tax using apportionment factors related to treaty-exempt income.
The most common mistake resulting in a state tax protest denial is submitting the filing outside the statutory deadline. Whether it is 15, 30, 45 ...
The state has published a central portal for information related to the new remote seller provisions enacted by the recent budget bill.
Taxpayers in declared disaster areas are eligible for postponement of state tax payments under certain conditions.
Voluntary disclosure program targets remote sellers with click-through or referral arrangements with New Jersey parties.
Amnesty period begins this winter, benefits include complete waiver of penalties, and partial waiver of interest.
Retailers using “fulfilled by Amazon” distribution channel should be aware of the limited-time amnesty program.
Recently, the Ohio Board of Tax Appeals issued a decision addressing the situsing of sales under the state’s Commercial Activity Tax (CAT). In ...
MA high court unconvinced sales tax drop shipment rule discriminates against interstate commerce for nexus-established wholesaler.
Comptroller policy letter ruling addresses credit loss under late-filed reports and claiming a credit when a member leaves a combined group.
Internal Revenue Service announces pilot of web-based virtual conference option for taxpayers in Appeals conferences.
Missouri delays implementation of IBM decision to allow time to address the extent of the sales and use tax manufacturing exemption.
Budget bill provides rate reductions for both the corporate income tax and personal income tax, increases the personal deduction
Analyzing recent FTB guidance on determining whether a taxpayer can take a credit or deduction for taxes “paid” to another state.
Washington state budget bill includes use tax notification and reporting requirements and economic nexus provisions for retailing B&O tax.
The budget increases personal and corporate tax rates, makes tax exemption and credit changes and revises the unclaimed property law.
Provides for tax amnesty program, eliminates low income tax brackets, and makes changes to a number of state taxes.
Changes to recent unclaimed property legislation provide for various technical clarifications, additional time for adoption of regulations.
Missouri bill exempts "usual and customary" separately stated delivery charges, providing consistent tax treatment to shipping charges.
Policy directive would have established sales tax nexus for remote vendors making over $500,000 of sales in 100 or more transactions.
General Assembly establishes two new agencies to replace Board of Equalization’s tax appeals and tax administration functions.
Bill establishes sales tax nexus for remote vendors making over $100,000 of sales or 200 or more separate transactions into the state.
Mobile workforce legislation passes the House for the second time in a year, but still must make significant progress in the Senate.
Minnesota passes tax bill enacting numerous changes to the individual income tax, corporate business tax, and sales and use tax.
S-corporations doing business in California and that have NRBIGs are required to apportion those gains to California. However, taxpayers and tax ...