News & Analysis as of

State Budgets Revenue

Baker Donelson

Reduction in Tennessee State Budget Outlook and Tackling the Franchise Tax Problem

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Lower-than-expected growth in the Tennessee economy has resulted in a slight decline in tax revenues thus far this fiscal year. Further complicating matters, state officials also recently disclosed a potential legal problem...more

Eversheds Sutherland (US) LLP

What to expect in unclaimed property trends for 2021

Many US companies will face the threat of increased unclaimed property exposure in 2021 as states and private litigants ramp up audits, litigation and legislative changes designed to increase payments to states. Although...more

Maynard Nexsen

NC Legislative Update - April 2016

Maynard Nexsen on

Last Week - The 2016 “Short Session” of the North Carolina General Assembly, which reconvened on Monday, April 25th, began with rallies both in opposition and in favor of the Public Facilities Privacy & Security Act,...more

Womble Bond Dickinson

April 17, 2015 NC Legislative Update

Womble Bond Dickinson on

Legislators are back in Raleigh after a week off and it doesn’t look like anything has changed after the extra time they were given to reflect on the session. Just as we’ve seen before: - There’s a new bill that would...more

Bradley Arant Boult Cummings LLP

Alabama Legislator Introduces Broad Unitary Combined Reporting Bill

As part of Republican Governor Robert Bentley’s eight-bill revenue package, Representative Mike Hill (R-Columbiana) has introduced a mandatory unitary combined reporting bill (often called “MUCR”), H.B. 142, that would be...more

Baker Donelson

Spotlight on Tennessee: Letter Ruling Addresses Treatment of a Section 338(h)(10) Election

Baker Donelson on

Tennessee does not expressly conform to most provisions in Subchapter C of the Internal Revenue Code. Instead, Tennessee's federal corporate income tax conformity is determined based on the "starting point" that Tennessee...more

Nexsen Pruet, PLLC

Weekly Update from the NC State House - June 2014: After giving its final approval to their version of the state budget just after...

Nexsen Pruet, PLLC on

Conflicting Budgets - After giving its final approval to their version of the state budget just after midnight Saturday morning, the Senate took a long weekend, not returning to Raleigh until Wednesday. The budget...more

Bilzin Sumberg

Florida’s Revenue System Outlined In New Report

Bilzin Sumberg on

The Leroy Collins Institute has published a report that outlines their view of the state’s revenue system and its potential misuse. The report, entitled “Tougher Choices: Shaping Florida’s Future,” builds on a 2005 Institute...more

Stinson LLP

Alert: Turnaround Complete? MMB Projects $1.086 Billion Surplus For FY 2014-15

Stinson LLP on

This morning, the Minnesota Management & Budget office released the November forecast. Changes in general fund revenue and expenditures for the current biennium have increased the projected balance for FY 2014-15 from $47...more

Winthrop & Weinstine, P.A.

State Revenue Lower than Expected for 2nd Straight Month

Minnesota Management and Budget (MMB) announced revenue collections for August are $26 million less than projected. For the FY 2014-2015 biennium (which began July 1), collections are running $46 million behind what was...more

Stoel Rives LLP

Tax Law Alert: The 2nd Special Session of the 2013 Washington Legislature Adjourned on June 29

Stoel Rives LLP on

The 2nd Special Session of the 2013 Legislature adjourned sine die on June 29, 2013. The accomplishment of this session was passage of a state budget, which had eluded state legislators through the Regular Session that ended...more

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