A Summary Review of Tax Legislation, Court Decisions, Opinions of the Attorney General and Published Rulings of the Tax Commissioner Published from January 1, 2023 through November 10, 2023....more
On January 5, 2024, the DC Tax Revision Commission released its “Chairman’s Mark,” which lays out the Commission’s tentative proposals for changes to the District’s tax structure. The Commission released a package of 39...more
On June 20, 2023, Governor Tony Evers signed 2023 Act 12 (“Act 12”) into law. Notably, Act 12 repeals Wisconsin’s personal property tax. The repeal takes effect on January 1, 2024 and eliminates the time-consuming and costly...more
President Biden recently announced that the national emergency relating to the COVID-19 pandemic will end on May 11, 2023. This move may result in unexpected tax issues for employers with remote workers in states where they...more
In Ohio, the sale of taxable tangible personal property or services are subject to the Ohio sales tax. Similarly, the use of taxable tangible personal property or services for which the vendor did not charge sales tax is...more
The Source of Income from the Sale of Personal Property Generally, income from the sale of personal property is “sourced” to the residence of the seller. If the seller is a U.S. tax resident the source of the income is deemed...more
Kentucky Governor Andy Beshear issued an executive order on February 16, 2022 intended to stop an increase in vehicle property taxes for 2022. Used car values in Kentucky have risen approximately 40% since last year, from...more
On Friday, May 28, 2021, the Biden Administration released its Green Book setting out the President’s revenue and policy proposals. Of particular interest to investors is the administration’s proposal to raise the tax on...more
On May 3, 2021, Governor Kevin Stitt signed HB 1060, which amends the Oklahoma Sales Tax Code. Oklahoma levies a state sales tax of 4.5% on the gross proceeds received from all sales of tangible personal property unless...more
Property tax, or ad valorem tax, is a fact of life for people and businesses in Texas. As one of the few states in the United States without income tax, Texas counties rely on property tax as a source of revenue to pay for...more
In these challenging times, businesses might seek to evaluate whether certain local tax incentives offered by the Commonwealth of Massachusetts are available to them. “Manufacturing Corporations,” for example, receive a...more
On April 24th, the Indiana Department of Local Government Finance updated its FAQ covering topics related to “COVID-19 & Executive Orders,” as those orders relate to property tax assessments, collections and payments....more
On April 23, 2020, Indiana Governor Eric Holcomb issued Executive Order 20-23, providing a statewide thirty-day extension on the filing of personal property tax returns, property tax abatement compliance documents, and...more
As posted earlier, on March 19, 2020, Indiana Governor Eric Holcomb issued Executive Order 20-05. Section 6(B) of the Order states: Property taxes remain due on May 11, 2020, however counties are to waive penalties on...more
My View from the Capitol This week, the highly anticipated resolution that could lower property tax on manufacturing machinery and automobiles debuted in the state Senate, but Democrats are already vocal with their...more
The West Virginia Legislature commences its 60-day regular session on Wednesday, January 8, 2020. This is an election year, which means that of the 134 members of the Legislature (100 Delegates and 34 Senators), 117 of these...more
Within the past year, the IRS has not changed its position on the way they are treating the taxation and reporting of digital token transactions. This alert serves as an update to last year’s rundown of cryptocurrency...more
Organizations wishing to apply for or retain an exemption from the District of Columbia on income and franchise tax, sales and use tax, or personal property tax are subject to some new filing requirements. ...more
The deadlines for California nonprofit organizations seeking to initially obtain or renew exemption from real estate or personal property taxes are quickly approaching. Please join us as we review the current state of the law...more
The Indiana property tax filing season is upon us, with Form 136 exemption applications for the January 1, 2018 assessment date due by April 1st for taxpayers wishing to claim exemptions for real and personal property. ...more
2018 Deadline for Claiming Qualified Eligible Manufacturing Personal Property Exemption is February 20, 2018 - Qualified new and used personal property (as defined by MCL 211.9m and 211.9n) is exempt from ad valorem...more
Yesterday afternoon, the House of Representatives passed the Tax Cuts and Jobs Act (H.R. 1) (the “House bill”). The House bill is identical to the draft bill approved by the House Ways and Means Committee on November 10. Late...more
On Thursday, May 25, 2017, Governor Rick Snyder signed a bill to extend the deadline for filing Personal Property Tax (PPT) statements to claim the exemption for manufacturing personal property until Wednesday, May 31, 2017. ...more
In a departure from past interpretation, the Michigan Supreme Court issued a ruling on May 1, 2017 expanding the use of personal property tax exemptions available to for-profit institutions. In SBC Health Midwest, Inc. v City...more
South Carolina has some of the highest business property taxes in the Southeast. The state generally taxes land, buildings, machinery and equipment, and furniture and fixtures, but does not tax inventory, pollution control...more