Income received by a multistate business is either “business income” or “non-business income.” Although this labeling appears innocuous, the distinction between these two categories of income matters greatly to taxpayers and...more
3/26/2025
/ Apportionment ,
Business Taxes ,
Capital Gains ,
Corporate Taxes ,
Franchises ,
Income Taxes ,
State and Local Government ,
State Taxes ,
Statutory Interpretation ,
Tax Court ,
Tax Liability
In June 2018, the United States Supreme Court in Wayfair held that the physical presence of the taxpayer was no longer a prerequisite for imposition of a sales tax. In so doing, the Court blessed the concept of “economic...more
3/23/2021
/ E-Commerce ,
Economic Presence Nexus ,
Florida ,
Internet Retailers ,
Legislative Agendas ,
Out-of-State Companies ,
Sales & Use Tax ,
Sales Tax ,
South Dakota v. Wayfair ,
State and Local Government ,
State Taxes ,
Tax Reform
During the Great Depression, the taxi industry boomed in the United States. This growth was fueled, in part, by the fact that the industry was largely unregulated. With many unemployed and underemployed individuals in need of...more
The decision by the New York City Tax Appeals Tribunal in Goldman Sachs Petershill Fund Offshore Holdings Corp (“Petershill Fund“), unfortunately, does not involve parachute pants or any reference to the “Running Man” dance....more
For years, state officials have wrung their hands in frustration because they haven't been able to tax most online retail sales. By some estimates, states could collect an extra $211 billion over the next five years in sales...more