Ideas & Insights

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.