News & Analysis as of September 24, 2024

Income Taxes › Sales Factor

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Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -

California Legislatively Overturns Recent Office of Tax Appeals Taxpayer Win

McDermott Will & Emery on 7/3/2024

The California State Legislature overturned Microsoft’s recent win at the Office of Tax Appeals, which held that the gross amount of dividends received from foreign affiliates outside its water’s-edge group should be included...more

Reminder: “Gross” Does Not Mean “Net” – California OTA Holds All Repatriated Dividends Must Be Included in Sales Factor

Pillsbury - SeeSalt Blog on 4/8/2024

In a decision marked “not precedential,” the OTA held 100 percent of repatriated dividends must be included in the taxpayer’s sales factor denominator....more

Draft North Carolina Tax Legislation Released

Smith Anderson on 4/18/2018

On April 11, 2018, the General Assembly’s Revenue Laws Study Committee released a draft tax bill for possible introduction in the legislative session that convenes May 16. This Alert provides a summary of the more important...more

Utah Legislative Update: 2018 - Part Two

Holland & Hart LLP on 2/27/2018

Mid-Way Point of the Utah Session: We are at the mid-way point of the Utah Legislative Session. The pace of work increases and each day gets longer the closer we get to the midnight finish on the 45th day of the session....more

Southeast State & Local Tax: Important Developments - September/October 2014

Williams Mullen on 10/24/2014

The Williams Mullen Southeast State and Local Tax (SESALT) team is pleased to provide you with a comprehensive recap of important tax developments around the Southeast. VIRGINIA - INDIVIDUAL INCOME TAX - ...more

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