A California state appellate court recently upheld the trial court's decision in The 2009 Metropoulos Family Trust v. Franchise Tax Board that nonresident shareholders of an S corporation source gain on the S corporation's...more
The Illinois Department of Revenue (“IDOR” or “Department”) recently issued a Notice of Proposed Amendment to amend its Regulation (86 Ill. Admin. Code § 100.3200) governing the “throwback” and “throwout” apportionment...more
The first order of business for many state tax authorities in response to COVID-19 was deciding whether to extend their respective income tax filing and payment deadlines for the 2019 tax year, either automatically by...more
Welcome to the latest issue of New York Tax Insights. In this issue we cover: ..The New York State Department of Taxation and Finance’s release of revisions to its draft business corporate franchise tax regulations for...more
The New York State Department of Taxation and Finance has made several significant revisions to its draft corporate income tax regulation for the sourcing of receipts from other services and other business activities. Draft...more
This Alert summarizes the more significant tax provisions included in House Bill 966, the 2019 Appropriations Act (the “Bill”). The Bill, a Conference Committee measure reconciling the House and Senate budget proposals, was...more
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
Originally published in State Tax Notes. Many states have created special treatment for manufacturers, including tax exemptions, credits, and special income tax apportionment rules. In this edition of A Pinch of SALT, we...more