The Tax Exchange - December 2017

Federal tax reform and the states: Conformity is key

With the passage of federal tax reform, both business and personal income taxpayers will need to consider how the federal changes will affect state law. Currently, state conformity to the federal tax code is as varied as the state names themselves, that is to say, state conformity must be observed on a state-by-state basis.

Pennsylvania provides guidance on the corporate NOL limitation

Understand the latest guidance from Pennsylvania regarding net operating losses, including how changes to the NOL limitation for the 2017 and later tax years must be taken into account as fourth quarter events.