Ideas & Insights

Legislation would have created an elective pass-through entity tax intended to reduce the impact of the federal limitation.

Some employers can give paid leave to employees impacted by COVID in 2021 and claim a payroll tax credit per the American Rescue Plan Act.

Minnesota updates conformity to include recent federal coronavirus legislation and offers a pass-through entity workaround.

Biennial legislation cuts taxes, offers more refundable research credit expenses and allows pass-through entities to claim certain credits.

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

The changes reduce the number of brackets, provide for future rate reductions and establish a rate cap for high-earners.

Individual income tax rate reductions and bracket changes will benefit taxpayers as well as favorable withholding changes.

A summary of important updates for determining deferred tax provision under ASC 740 for the quarter ending June 30, 2021.

Missouri is the final state to adopt an economic sales tax nexus standard following the 2018 South Dakota v. Wayfair decision.

Nebraska broadly exempts manufacturing inputs used by ethyl alcohol producers from the sales and use tax effective Oct. 1, 2021.

Trio of tax bills impact individual and business filers with significant corporate income tax changes scheduled for 2022.

Arizona budget proposals reduce rates, keep the flat tax alive for future years, and provide a rate cap for high earners.

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.

Three years after the Wayfair decision, economic sales tax nexus has become the norm, but unanswered questions and numerous issues remain.

Significant tax changes made to GILTI, bonus depreciation, net operating loss limitations and the phase-out of the state’s franchise tax.

Tax bill makes significant changes to rules affecting income taxes, inheritance taxes, credits, bonus depreciation and federal conformity.

Join RSM for a two-day event featuring six state and local tax webinars focused on helping your business move forward amidst change.

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