Since its legalization in 2014, Colorado's cannabis industry has experienced unprecedented growth, surpassing $10.5 billion in total sales. The first quarter of 2021 alone saw marijuana sales exceeding $560 million, according...more
ARIZONA TO IMPLEMENT 2.5% FLAT TAX AHEAD OF SCHEDULE - Governor Doug Ducey announced that Arizona will implement its new 2.5% flat income tax rate on January 1, 2023, a full year ahead of schedule. According to Gov. Ducey,...more
Pennsylvania Governor Tom Wolf has signed into law omnibus tax legislation to implement the Commonwealth’s fiscal year 2022 – 2023 budget. Among other things, the enacted legislation: (1) cuts the corporate net income tax...more
On April 19, 2021, Gov. Kay Ivey signed House Bill 408, sponsored by Rep. Wes Kitchens (R-Marshall County/Blount County) and Sen. Clay Scofield (R-Guntersville), into law as Act 2021-226, which will become effective July 1. A...more
Newly Issued Permanent Rules On July 23, 2020, the Oregon Department of Revenue (“DOR”) issued the second set of permanent rules related to the Oregon Corporative Activity Tax (“CAT”). The DOR issued four permanent rules, all...more
The Alabama Legislature was stymied last year over proposals to decouple from or conform with various provisions of the Tax Cuts and Jobs Act of 2017 (TCJA). As a compromise, the Legislature formed a Joint Legislative Task...more
Consistent with its plan announced late last year, this week the Oregon Department of Revenue (“DOR”) issued its second round of temporary administrative rules. This round of temporary rules was essentially a compilation of...more
As previously reported, in Ex parte Russell County Community Hospital, the Alabama Supreme Court announced that all software, including customized software created for a particular user, is "tangible personal property" and...more
What We Learned from one of the Oregon Department of Revenue’s Town Hall Meetings - Over the past few months, we have written extensively on the blog about Oregon’s new Corporate Activity Tax (the “CAT”). As announced in...more
LEGISLATION - The following bills affecting real property are still alive in the Mississippi legislature following the March 5 deadline for committees to report general bills originating in the other house: HB...more
The following information accompanies a presentation Mike gave to members of the Arizona Commercial Mortgage Lenders Association (ACMLA) on September 12, 2017. HB 2213 – GPLET Leases - Arizona’s GPLET statute (enacted...more
In addition to Tennessee’s passage of the IMPROVE Act (Improving Manufacturing, Public Roads and Opportunities for a Vibrant Economy) also known as the “2017 Tax Cut Act,” 2017 Tenn. Pub. Acts 181, featured in our State and...more
The House and Senate have each met a total of six legislative days thus far. There are therefore 24 legislative days remaining in the 2017 Regular Session. The House will reconvene on Tuesday, February 28 at 1:00 p.m. The...more
The 2017 legislative session begins February 7th in Montgomery, and we expect several tax-related proposals to be considered during the session. Our readers may recall that the 2016 session ended with no long-term plan in...more
The 2017-18 Session of the North Carolina General Assembly - On Tuesday, Chief U.S. Supreme Court Justice John Roberts issued a stay, temporarily halting an order by the U.S. District Court for the Middle District of...more
In the first week of the 2017 session, the Minnesota legislature determined leadership positions in both the House and the Senate and got to work on high-priority issues. 2017 Session Convenes - The House and Senate...more
The South Carolina Department of Revenue (SCDOR) released its annual tax legislative update on October 10, 2016 in SC Information Letter #16-11. The guidance provides a summary of significant changes in tax and regulatory...more
I-77 Managed Lanes - On June 2, the House voted 81-27 to approve HB 954, which would terminate the contract between NCDOT and I-77 Mobility Partners for the I-77 managed lanes project north of Charlotte. The bill has...more
The second of three Minnesota legislative committee deadlines arrives tonight at midnight. By this second deadline, committees must act favorably upon a bill that met the first deadline in the other house, or the bill does...more
Last month, a much-anticipated bill drafted by the Alabama Department of Revenue (Department) was introduced in the Alabama Senate that would have expanded the definition of tangible personal property to include “digital...more
The second year of the 89th Session of the Minnesota Legislature convenes on March 8, 2016. This year’s session is unusually late and will last an atypically short 11 weeks. The February Forecast released today projects...more
In preparation for the 2016 regular session, which begins on February 2, several of Alabama's key trade and business organizations recently announced their tax legislative agendas. As reflected in these agendas, the 2016...more
Summary - Governor Robert Bentley called a second special session of the Alabama Legislature on Tuesday, September 9 at 5 p.m. to address the FY 2016 General Fund budget and associated revenue measures. After meeting for...more
This Week - After a week-long summer recess, lawmakers returned to Raleigh to resume the business of the State. The House finally appointed budget Conferees on Tuesday, nearly a month after receiving the Senate version...more
Yesterday afternoon, the Alabama Department of Revenue (ADOR) withdrew its controversial proposed digital tax regulation, Rule 810-6-5-09, likely in response to the request of the Legislative Council’s newly-appointed...more