State & Local
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May 24, 2024
Pa. Tax Dept. Floats Reg Outlining Business Income Treatment
The Pennsylvania Department of Revenue proposed a regulation Friday outlining when income is considered apportionable business income or nonbusiness income that isn't apportionable, and how the unitary business principle affects those determinations.
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May 24, 2024
Lists Of State Laws That Satisfy Charitable Org. Regs Invalid
The Internal Revenue Service rendered obsolete two lists of state laws and circumstances that allowed for charitable organizations to satisfy certain federal requirements, as a number of the relevant laws have since changed, the agency announced Friday.
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May 24, 2024
Taxation With Representation: Davis Polk, Wachtell, Latham
In this week's Taxation With Representation, SouthState Corp. buys Independent Bank Group Inc., CyberArk acquires Venafi, Carlyle clinches its fifth Japanese buyout fund, and AuditBoard Inc. agrees to be bought by Hg Capital.
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May 24, 2024
La. Requires Tax Withholding For Certain Gambling Winnings
Louisiana will require businesses that pay gambling winnings to individuals to withhold and remit state income taxes on those winnings if federal income taxes are also required to be withheld, under a bill the state's governor signed.
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May 24, 2024
Mich. Bills Would Change Tax Rules On Delivery Sales
Michigan would amend its sales and use tax regime to include language clarifying that vendors who use online delivery platforms are responsible for collecting and remitting the taxes as part of two bills introduced in the state House of Representatives.
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May 23, 2024
NC Justices Back Manufacturer Tax Break For Contractor
The North Carolina Supreme Court on Thursday backed a $130,000 tax break for an asphalt maker, upholding a lower court's decision that the company qualified for an exemption reserved for manufacturers even though it sold just a small portion of its product.
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May 23, 2024
Ill. Justices OK $28M Tax Value Appeal Without Payment
A power company's property in Illinois was not required to pay disputed property taxes before appealing a valuation, the Illinois Supreme Court affirmed Thursday, upholding a reduction in the assessment of about $28 million.
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May 23, 2024
Tenn. Broadens Ag Land Eligible For Lower Tax Assessments
Tennessee will double the amount of land within a property tax jurisdiction that may be classified as agricultural, forest or open-space land and subject to a lower tax assessment under a bill signed by the governor.
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May 23, 2024
Ohio Bill Seeks Refundable Credit For Property Taxes, Rent
Households in Ohio with $60,000 or less in annual income would be able to claim a refundable income tax credit for the cost of their property taxes or for 15% of their rent under a bill introduced in the Senate.
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May 23, 2024
Conn. Requires Study Of Uniform Tax On Solar Facilities
Connecticut will have the state's Department of Energy and Environmental Protection study whether it should create a uniform capacity tax on solar facilities as part of a bill signed by the governor.
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May 23, 2024
Corp. Tax Rate Should Hold, GOP Former Panel Chair Says
Lawmakers should preserve the Tax Cuts and Jobs Act's nonexpiring provisions, specifically the 21% corporate tax rate, when debating the extension of the law's expiring provisions in 2025, former House Ways and Means Committee Chairman Kevin Brady said Thursday.
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May 23, 2024
NY Panel OKs Allowing Anyone To Rep Clients At Tax Tribunal
New York would allow taxpayers to choose anyone age 18 and older to represent them in the state Tax Appeals Tribunal, including a registered tax preparer, under a bill passed in the Assembly Ways and Means Committee.
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May 23, 2024
Colo. To Allow Fire, Ambulance Districts To Levy Sales Taxes
Colorado fire and ambulance districts will be able to levy local sales taxes, with voter approval, and impose impact fees on new construction under legislation signed by Democratic Gov. Jared Polis.
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May 23, 2024
Idaho Revenue Through April Up $89M Over Forecasts
Idaho general revenue collection from July through April was up $89 million over budget forecasts, the state Division of Financial Management reported.
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May 23, 2024
Akerman Brings On Kilpatrick Tax Ace In LA
Akerman LLP is boosting its tax team, bringing in a Kilpatrick Townsend & Stockton LLP corporate tax and energy tax credit expert as a partner in its Los Angeles office.
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May 22, 2024
Justices' CFPB Alliance May Save SEC Courts, Not Chevron
A four-justice concurrence to the U.S. Supreme Court's decision upholding the Consumer Financial Protection Bureau's unique funding scheme last week carries implications for other cases pending before the court that challenge the so-called administrative state, or the permanent cadre of regulatory agencies and career government enforcers who hold sway over vast swaths of American economic life.
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May 22, 2024
Tenn. To Align With Tax Pact For Sales And Use Tax Sourcing
Tennessee will implement several state sales and use tax changes starting July 1, including adopting sourcing provisions in line with the Streamlined Sales and Use Tax Agreement, as part of legislation enacted last year, the state Department of Revenue said in a notice published Wednesday.
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May 22, 2024
SC Increases, Expands Tax Credit For Employing Apprentices
South Carolina increased an individual and corporate income tax credit available to taxpayers that employ apprentices and expanded when credits may be claimed, under legislation signed by the governor.
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May 22, 2024
Colo. Gambling Tax Refund Question Heading To Ballot
Colorado will allow voters to decide if the state should keep and spend sports betting tax revenue or refund it back to casinos as part of a bill signed into law by Democratic Gov. Jared Polis.
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May 22, 2024
DC Empty Building Not Eligible For Tax Exemption, Court Says
The owner of a vacant building in Washington, D.C., can't claim an exemption from the district's vacant building property tax rate because the owner claimed the exemption outside the allowed two-year period, the district's highest court ruled.
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May 22, 2024
Fla. Dept. Owes Biz $1.2M In Interest, Fuel Supplier Tells Court
The Florida Department of Revenue owes a 7-Eleven fuel supplier $1.2 million in interest on a refund of a duplicate tax assessment the department was ordered to pay, the supplier told a state court.
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May 22, 2024
Minn. Lawmakers OK Family Leave Payroll Tax Boost
Minnesota would raise the payroll premium for its yet-to-begin paid family and medical leave program under a bill passed by state lawmakers in the final hours of their session.
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May 22, 2024
SC Expands Abandoned Building Credit, Adds Railroad Credit
South Carolina expanded its tax credit for the revitalization of abandoned buildings and provided an income tax credit for railroad reconstruction under a bill signed by the governor.
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May 22, 2024
SC General Revenue Through April Up $333M From Last Year
South Carolina's general revenue collection from July through April was up $333 million from last year, the state Board of Economic Advisors reported.
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May 22, 2024
ND General Fund Revenue Up $264M From Forecast
North Dakota general revenue collection from July through April was up $264 million from budget estimates, the state's Legislative Council reported.
Expert Analysis
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Kentucky Tax Talk: Taking Up The Dormant Commerce Clause
Attorneys at Frost Brown examine whether the U.S. Supreme Court is likely to review Foresight Coal Sales v. Kent Chandler to consider whether a Kentucky utility rate law discriminates against interstate commerce, and how the decision may affect dormant commerce clause jurisprudence.
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TCJA Workarounds And A Misstep In Va.: SALT In Review
From federal SALT deduction workarounds to Virginia's missed opportunity, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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How Taxpayers Can Prep As Justices Weigh Repatriation Tax
The U.S. Supreme Court might strike down the 2017 federal tax overhaul's corporate repatriation tax in Moore v. U.S., so taxpayers should file protective tax refund claims before the case is decided and repatriate previously taxed earnings that could become entangled in dubious potential Section 965 refunds, say Jenny Austin and Gary Wilcox at Mayer Brown.
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Digital Services And Asphalt Production: SALT In Review
From Massachusetts' proposed gross receipts tax on digital providers to a dispute over equipment used to make asphalt in North Carolina, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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What's Notable In Connecticut's New Cannabis Laws
The Connecticut Legislature recently passed four bills containing cannabis provisions — ranging from applicable tax credits to labor agreement requirements — that may prove to be a mixed bag for state operators, say Sarah Westby and Deanna McWeeney at Shipman & Goodwin.
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NJ Justices Clarify Bribery Law Scope, But Questions Remain
The New Jersey Supreme Court’s recent State v. O'Donnell decision clarified that the state’s bribery law unambiguously applies to candidates for public office, but there are still unresolved questions about how the ruling may affect lobbyists, undeclared candidates and political speech, says Scott Coffina at Pietragallo Gordon.
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Parsing Tax Implications Of NYC Office Leasing Transactions
Though New York City's tax laws generally do not require negotiated contractual risk allocation in the case of sublease and early lease termination transactions, it is still helpful for counsel to both landlords and tenants to understand the laws' nuances, say attorneys at Lowenstein Sandler.
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Digital Biz Purchases And Tax Cuts In Texas: SALT In Review
From the taxing of digital business purchases to proposed tax cuts in Texas, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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3 Principles Should Guide MTC's Digital Products Tax Work
As the Multistate Tax Commission's project to harmonize sales tax on digital products moves forward, three key principles will help the commission's work group arrive at unambiguous definitions and help states avoid unintended costs, say Charles Kearns and Jeffrey Friedman at Eversheds Sutherland.
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OECD Treatment Of Purchased Ga. Film Credits Isn't Peachy
Producers considering Georgia as a prospective location for filming may already be concerned that the Organization for Economic Cooperation and Development's July decision will hamper the eventual 2026 or later sale of their Georgia film tax credits, says Alan Lederman at Gunster.
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A Milestone For Offshore Wind In Maine
Recently signed legislation directing Maine to procure up to 3 gigawatts of offshore wind by 2040 offers indisputable promise that the state will soon welcome commercial-scale offshore wind development off its shores, says Joshua Rosen at Foley Hoag.
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Mallory Ruling Doesn't Undermine NC Sales Tax Holding
Contrary to the conclusion reached in a recent Law360 guest article, the U.S. Supreme Court’s recent Mallory ruling shouldn't be read as implicitly repudiating the North Carolina Supreme Court’s sales tax ruling in Quad Graphics v. North Carolina Department of Revenue — the U.S. Supreme Court could have rejected Quad by directly overturning it, says Jonathan Entin at Case Western Reserve.
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Calif. Policymakers Should Aid Crashing Cannabis Market
As California’s cannabis sector nears the brink of financial collapse, it may be time for the state government to seriously consider potential bailout programs for the embattled industry — though the crisis also presents strategic buying opportunities for those with a high tolerance for uncertainty, says Michelle Mabugat at Greenberg Glusker.