News & Analysis as of

State Taxes Income Taxes

Pennsylvania Tax Amnesty Begins This Week

by Blank Rome LLP on

Action Item: Pennsylvania’s tax amnesty program begins this week and runs through June 19, 2017. Significant penalty and interest relief is available to all who participate, and taxpayers not known to the taxing authority can...more

Maryland Passes Bill to Allow 30% State Income Tax Credit for Energy Storage

by Stoel Rives LLP on

In what some commentators are calling the first of its kind, Maryland’s legislature has passed a bill that would allow taxpayers to claim a state income tax credit equal to 30% of the installed cost of an energy storage...more

MoFo New York Tax Insights - Volume 8, Issue 4

by Morrison & Foerster LLP on

ALJ Finds CEO Changed Domicile from New York City to Texas - A New York State Administrative Law Judge has held that the CEO of Match.com (“Match”) changed his domicile from New York to Texas for New York State and City...more

MoFo New York Tax Insights - Volume 8, Issue 3

by Morrison & Foerster LLP on

ALJ Finds CEO Changed Domicile from New York City to Texas - A New York State Administrative Law Judge has held that the CEO of Match.com (“Match”) changed his domicile from New York to Texas for New York State and City...more

Georgia House Passes Flat Income Tax Rate for Individual Taxpayers

by Taylor English Duma LLP on

On March 1, 2017, the Georgia House of Representatives voted 126-40 to adopt HB 329 which would convert the current graduated-rate individual income tax into a single, 5.4 percent flat-rate tax. Georgia currently applies a...more

Pa. Governor’s Budget Proposal – 'No Broad-based Tax Increases'?

by Reed Smith on

Pennsylvania Gov. Tom Wolf presented his budget address February 7, 2017. The proposed budget seeks $1 billion in new revenue from several tax proposals, such as a severance tax on natural gas drilling, corporate net income...more

NJ Tax Court: Throwout Doesn’t Apply to P.L. 86-272 Receipts

by Reed Smith on

The New Jersey Tax Court issued its decision today in Elan Pharmaceuticals, Inc., ruling that the Division of Taxation had improperly excluded receipts sourced to states in which the taxpayer was immune from income tax from...more

South Carolina Tax Amnesty for 2017?

by McNair Law Firm, P.A. on

The South Carolina General Assembly approved a law in 2015 allowing the South Carolina Department of Revenue to offer an amnesty program to taxpayers in the state who have not filed tax returns and/or owe state taxes....more

Indiana Revenue Forecast & Road Funding – Two Information Briefs from the Indiana Fiscal Policy Institute

by Faegre Baker Daniels on

The Indiana Fiscal Policy Institute this month released two informational briefs on topics that will be tackled by the Indiana General Assembly in its upcoming legislative session, where the legislature will craft a new...more

Mississippi Supreme Court Finally Disconnects The Line On Dividend Exclusion Statute In The AT&T Case

by Butler Snow LLP on

In a previous article, we summarized AT&T’s 16-year effort, in two separate lawsuits, to have declared unconstitutional two Mississippi income tax statutes on the alleged basis that they placed a greater tax burden on AT&T...more

MoFo New York Tax Insights - Volume 7, Issue 11

by Morrison & Foerster LLP on

ALJ Permits Only Minimum Penalties for Failure to File Information Returns - A New York State Administrative Law Judge has rejected the maximum penalties imposed by the Department of Taxation and Finance on an...more

SALT Implications of Final Section 385 Debt-Equity Regulations

by McDermott Will & Emery on

The recently released final regulations under Internal Revenue Code Section 385, addressing the circumstances under which related company debt will be classified as equity for federal income tax purposes, will have a...more

2016 New York Tax Update: Highlights and Lowlights

by Hodgson Russ LLP on

There wasn’t much in the way of substantive New York tax changes in the 2017 budget bill that Governor Andrew Cuomo signed in April. Or at least wasn’t much in the way of changes that affect the day-to-day practices of the...more

Taxation Law Section - 2016 Oklahoma Tax Legislation

by GableGotwals on

The Following is a summary of some of the changes in Oklahoma tax law enacted by the Oklahoma Legislature in 2016. Income Tax - Investment/New Jobs Credit, $25 Million Cap, 2016-2018 - The Income tax credit for...more

MoFo New York Tax Insights - Volume 7, Issue 8

by Morrison & Foerster LLP on

ALJ holds that a Retailer Must File on a Combined Basis with a Related Intellectual Property Licensing Company - A New York State Administrative Law Judge has held that a retailer must file combined corporate franchise...more

Videocast: Sutherland SALT Scoreboard – 2nd Quarter Highlights [Video]

Sutherland SALT tracks and tallies significant state and local tax litigation wins and losses in the quarterly Sutherland SALT Scoreboard publication. In this videocast, Charles C. Capouet and Elizabeth S. Cha share the...more

Pennsylvania Enacts Tax Bill as Part of Budget Package

by Reed Smith on

Pennsylvania has enacted tax law changes projected to generate $752M in new revenue. The changes include severe restrictions on the vendor sales tax discount for timely filing, imposition of sales tax on digital downloads and...more

North Carolina Court of Appeals Affirms the Unconstitutionality of a State Income Tax on a Non-North Carolina Trust: Kimberly Rice...

by McGuireWoods LLP on

On July 5, 2016, the North Carolina Court of Appeals affirmed the Business Court ruling in the matter of Kimberly Rice Kaestner 1992 Family Trust v. North Carolina Department of Revenue. As noted in our Alert of May 1, 2015,...more

Issue of Diversifying Revenue Streams Stands in Shadow of Millionaire Surtax

by PretiFlaherty on

Is it wise and fair to try to raise $2 billion per year in new revenue for improvements to public education and transportation by instituting a surtax of 4% on the incomes of every millionaire in Massachusetts? Seventy...more

A State Nexus Study: Avoiding Imminent Audits by Revenue-Thirsty States

by Cole Schotz on

We are seeing a heavy uptick in audit activity for closely held businesses, particularly in the area of sales and use tax audits to generate much needed revenue to fund services, entitlement programs and to meet budget...more

South Carolina Department of Revenue Audits

by McNair Law Firm, P.A. on

The South Carolina Department of Revenue (SCDOR) administers the state’s tax laws. Like the IRS, SCDOR audits tax returns, but only certain returns subject to South Carolina tax, such as South Carolina income tax returns,...more

Spotlight on Alabama: Department of Revenue Announces 2016 Tax Amnesty Program

by Baker Donelson on

The Alabama Department of Revenue (DOR) has announced the conditions, requirements and limitations of its tax delinquency amnesty program for 2016 (the Amnesty Program), pursuant to the Alabama Tax Delinquency Amnesty Act of...more

Recent Connecticut Tax Law Developments

by Shipman & Goodwin LLP on

Coming off what was a relatively quiet year in 2014, the year 2015 was a tumultuous year for Connecticut tax law changes. The changes enacted during 2015 will impact virtually all taxpayers in the state (both individuals and...more

Tom Brady’s suspension reinstated, so what are the potential Massachusetts tax consequences?

by Reed Smith on

Deflategate and the NFL’s suspension of quarterback Tom Brady for 4 games has been the NFL’s biggest news story of the past two years. On April 25, 2016, the United States Court of Appeals for the Second Circuit ruled in...more

State Tax Fallout From Federal Proposed Related-Party Debt Regulations

Recently proposed Treasury regulations under IRC § 385 (the Proposed Regulations) would create sweeping changes to the federal income tax treatment of related-party debt. The Proposed Regulations could also have far-reaching...more

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