State Taxes

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U.S. Tax Court Ruling in State Conservation Tax Credit Case Requires Income Recognition

In its recently issued opinion in the case of Route 231, LLC v. Commissioner, T.C. Memo 2014-30 (2/24/14), the United States Tax Court (the “Court”) held that a transfer of state tax credits to a 1% member who had contributed...more

New York State Legislation Alert: April 2014

New York’s recently passed legislation, effective April 1, 2014, significantly changes its estate tax regime and income tax regime for certain trusts. This Alert discusses the implications of this legislation....more

State + Local Tax Insights -- Spring 2014

In This Issue: - Where’s Walden? Finding Protection under the Due Process Clause - Upcoming Speaking Engagements - CFCs and Subpart F Income in a California Water’s-Edge Election and What’s Wrong with the Apple...more

New York Estate and Trust Tax Changes: the Good, the Bad and the Ugly

As we noted in our recent client alert, New York Governor Andrew Cuomo announced in January that he would introduce legislation intended to reduce the estate tax incentive for New Yorkers to move out of the state shortly...more

Defending Federal and State Tax Audits For High-Income Taxpayers

In 2013 the IRS audited slightly over one taxpayer in nine[1] with an income of $1 million or more.[2] This audit rate represents a sharp 69 percent increase from the 6.42 percent audit rate that similar high-income...more

How Michigan’s New Personal Property Tax Law Will Affect Municipalities

Recently enacted legislation provides clarity and relief to Michigan municipalities poised to suffer revenue loss as a result of personal property tax reform legislation enacted in 2012. On March 28 and April 1, 2014, the...more

Southeast State & Local Tax: Important Developments - March 2014

The Williams Mullen Southeast State and Local Tax (SESALT) team is pleased to provide you with a comprehensive recap of recent legislation around the U.S....more

The Minnesota Legislature recessed around dinnertime on Thursday, April 10 and will reconvene at noon on Tuesday, April 22.

Before departing for their planned Easter/Passover break, the House and Senate pushed through a number of bills in a flurry of activity. Unusually short committee deadlines drove this process. These deadlines were: March 21...more

Under The Dome: Inside The Maine State House 4-11-14

Under the Dome: Inside the Maine State House provides a high-level overview of recent activity at the Maine State House. Governor Vetoes Medicaid Expansion Legislation - On April 9th, Governor vetoed LD 1487, a...more

Real Estate Tax Liens Attach to Persons, Not Just Property

In 2013, the Pennsylvania legislature passed an amendment to the Municipal Claim and Tax Lien Law (Act No. 93 of 2013, the “Amendment”), designed to give municipalities and school districts improved means of collecting tax...more

Extension of Eight Valuable As-of-Right Incentive Programs Included in New York State's Budget Bill

New laws may benefit developers and businesses with applications long pending and for future applicants that depend on these incentive programs to help induce investment and economic growth in the New York City. These...more

Municipal Law and Finance: Personal Property Tax Reform

Personal Property Tax Reform Background - Grand Rapids city leaders in cooperation with leaders from Ottawa and Kent Counties, Wyoming, and the Grand Valley Metropolitan Council worked with the Lieutenant Governor’s...more

The New Massachusetts Income Sourcing Rules For Corporate Services: Massachusetts DOR Issues Working Draft of Implementing...

On July 24, 2013 the Massachusetts General Court enacted an $800 million transportation bill. This bill, inter alia, revised the Massachusetts corporate sourcing rules for the sale of services. The bill became effective as of...more

Under The Dome: Inside The Maine State House 3-28-14

Under the Dome: Inside the Maine State House provides a high-level overview of recent activity at the Maine State House. Legislature Approaching End of Session - The statutory adjournment date for the...more

Project Perspectives - Winter 2014 Edition

In this edition: - Oil and Gas Industry Discussion - The False Claims Act: The Government’s Sword in Cash Grant Audits - Is a 50 Percent Renewables Portfolio Standard in California’s Future? -...more

Maine Tax Alert: Legislature Moves To Slash Pine Tree Zone Benefits And R&D Super Credit

The Supplemental Budget just released by the Legislature (LD 1843), if passed as written, may hurt Pine Tree Zone Business as well as businesses that engage in a substantial amount of research and development in Maine....more

Inside the New York Budget Bill Part Five: Net Operating Losses and Tax Credits

This is the fifth installment of a series that takes an inside look at the corporate tax reform proposals in Governor Andrew Cuomo’s 2014–15 New York Budget Bill. This proposed reform is sweeping and, if enacted, is likely to...more

Pennsylvania Corporations to Fund State Spending Increase

On February 4, Governor Corbett proposed his 2014-2015 budget, keeping his promise not to increase taxes, despite a nearly $1 billion proposed increase in spending. However, the budget includes a $150 million increase to...more

South Carolina Legislative Update - March 17, 2014

The S.C. House gave final passage to next year's $24 billion budget, H. 4701, last week and sent it to the Senate. The House spending proposal includes a 1.5 percent pay raise for state employees, 31 new State Law...more

California Continues Crackdown on 1031 Exchanges

During the last several years, the California Franchise Tax Board (“FTB”) has been closely scrutinizing section 1031 exchanges, and finding section 1031 exchanges to be a fruitful area for state tax audits. While California...more

New York Budget Bill Proposes Many CorporateTax Changes

For the first time since 1987, New York is proposing substantial reforms to its corporate tax structure. In 1987 the impetus for change was external: The passage of major tax reform at the federal level in 1986 increased the...more

Inside the New York Budget Bill Part Three: Apportionment

This is the third installment of a series that takes an inside look at the corporate tax reform proposals in Governor Andrew Cuomo’s 2014–15 New York Budget Bill. This proposed reform is sweeping and, if enacted, is likely to...more

North Carolina Legislative Report - February 28, 2014

The General Assembly has officially completed its business for the 2013 long session. The 2014 short session will begin on Wednesday, May 14, 2014. The MVA Public Affairs Legislative Report on North Carolina will be...more

Permanent Place of Abode Requires Actual Use of Property as Taxpayer’s Residence

The New York Court of Appeals reversed the decision of the Appellate Division of the New York Supreme Court and held that in order for an individual to have a “permanent place of abode” in New York for purposes of determining...more

Ohio House Ways and Means Committee Receives Testimony on Substitute House Bill 375

On February 12, 2014, Ohio House Ways and Means Committee Vice-Chair Rep. Gary Scherer offered a substitute House Bill 375 to the Ways and Means Committee, including significant amendments from the prior version of House Bill...more

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