Ideas & Insights

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

Taxpayers should plan accordingly as the states are aware of the increase in accounting methods changes due to recent federal changes.

New Hampshire files challenge over Massachusetts regulation taxing telecommuting nonresidents with U.S. Supreme Court.

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.

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.

Eligible businesses that did not receive certain other COVID-19 relief may qualify for grants up to $250,000.

The department found the business did not engage in qualifying research or submit proper documentation to substantiate the claim.

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

President held personally liable for unpaid income tax withholding even after another corporate officer found responsible.

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

The elective tax is intended as a state and local tax deduction limitation workaround, joining six other states with similar provisions.

When determining whether an S corp distribution is a dividend, Arkansas taxpayers must use state-specific AAA rather than federal AAA.

Taxpayer-friendly measures provide interest waivers, extension of limitations periods and assistance to impacted businesses.