Ideas & Insights

States may not allow the gross income tax exclusion provided by the federal program, resulting in taxable discharge of indebtedness income.

Businesses with San Francisco activity should be prepared to understand a number of recent changes and updates to city tax law.

Georgia has expanded the state jobs tax credit to apply to businesses hiring telecommuting employees in 2020 or 2021.

Four states have adopted or are considering budgets without significant tax increases even considering pandemic shortfalls.

Looming budget shortfalls coupled with tax-related ballot measures in many states could significantly affect 2021.

A business did not owe tax on service contract fees, finding the receipts were sourced out-of-state rather than to in-state customers.

A judge found that taxpayers did not abandon their residency and were therefore still subject to Arkansas personal income tax.

The state will decouple from CARES Act net operating loss, interest expense and excess business losses provisions.

Revised conformity excludes certain net operating loss and excess business loss provisions effective for 2019 tax years.

Taxpayer permitted alternative apportionment when calculating Michigan sourced income from the sale of an out-of-state business.

Effective July 1, Maryland has exempted from sales and use tax the sale of certain personal property to qualified data centers.

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.

Proposed budget would freeze planned rate reductions and calls for a non-resident wage tax increase to offset the impact of COVID-19.

The decision may impact sourcing positions taken by the financial service industry for New York State and New York City tax purposes.

Widespread availability of credits and economic incentives during the COVID-19 pandemic may help businesses increase cash flow.

Financial services businesses providing software and services to Illinois customers may have multiple transaction tax obligations.

Publicly traded companies located in Illinois may be subject to new demographic reporting requirements by Jan. 1, 2021.

The ACA’s shared responsibility penalty on individuals without health insurance no longer applies after 2018, but state penalties may apply.

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.