Ideas & Insights

New guidance and dedicated website provide instruction to taxpayers electing into the pass-through entity tax workaround.

California FTB amends remote worker nexus guidance, teleworking employees will create nexus and exceed P.L. 86-272 protections.

New Jersey budget deal commits less than 5% of the state’s budget surplus to tax relief, ignoring mobile individuals and businesses.

MTC updates status of combined reporting and transfer pricing initiatives, announces new initiatives on pass-through and digital tax issues.

Wisconsin budget bill moves forward with tax cuts aimed at encouraging individuals and businesses to stay and invest in the state.

North Carolina Senate pushes forward major tax reform bill, continuing down the path to repeal the state’s corporate income tax.

Massachusetts legislature approves 2022 ballot measure to add 4% additional tax on all income over $1 million effective January 1, 2023.

Some exempt organizations will be subject to Virginia’s informational reporting requirement for unitary businesses, due July 1, 2021.

The newly enacted optional tax may provide significant opportunity to taxpayers, and in particular, owners of financial service firms.

Budget bill increases personal and corporate tax rates, enacts a SALT deduction workaround and makes other changes to the tax code.

The Iowa Department of Revenue advises taxpayers that Employee Retention Credit-related wage deduction reductions apply at the state level.

The New Jersey Tax Court highlights the importance of understanding and complying with state tax appeal procedural responsibilities.

The Pennsylvania Department of Revenue has issued complex guidance for employees claiming home office expense during the pandemic.

Governor Ned Lamont has signed legislation retroactively providing COVID-related business nexus and personal income tax relief for 2020.

The Texas Comptroller of Public Accounts has finalized revised rules making significant changes to franchise tax apportionment.

Updated emergency regulations and revised guidance explains the duration of COVID-19 nexus and withholding policies.

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.

Taxpayers that properly secured a first extension may file a request for a second extension on or before Aug. 17, 2020.

Services performed in Detroit for clients located outside the city should be sourced to Detroit for purposes of the city’s income tax.