Ideas & Insights

New Jersey Gov. Phil Murphy has approved a bill that authorizes over $14 billion in business tax credits and incentives.

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.

Seattle payroll expense tax to be imposed on employee compensation of at least $150,000 for businesses with $7 million or more in payroll.

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

California Office of Tax Appeals determined that a construction company could not use a resale certificate for material purchases.

Expanded eligibility ending Nov. 30, 2020 presents an opportunity for businesses to come into compliance with certain state taxes.

The revised sales tax nexus standards reduce the current $500,000 threshold to $100,000 beginning Oct. 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.