The Tax Exchange - October 2017
Illinois' Invest in Kids Act provides favorable corporate and individual income tax credits for qualified contributions to scholarship granting organizations—including nonprofits that use at least 95 percent of the contributions for scholarships to lower income elementary or high school students.
In 2015, Washington state made sweeping changes to its unclaimed property law and opened an amnesty program. Unclaimed property holders that did not previously apply for amnesty should consider doing so by Oct. 31, 2017, in order to obtain penalty and interest waivers.
Delaware recently released a statement indicating intentions to identify and contact noncompliant unclaimed property holders. Notified holders are expected to enroll in the state's VDA program or they will be referred for audit.