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Stinson LLP

Gain from Goodwill Sale Subject to Minnesota Apportionment as Business Income

Stinson LLP on

The Minnesota Supreme Court recently held that the gain from the sale of goodwill was subject to apportionment as business income derived from a unitary asset rather than allocation of nonbusiness income pursuant to Minnesota...more

Buckingham, Doolittle & Burroughs, LLC

Ohio Income Tax – Ohio Clarifies when Sales of Business qualify for Favorable Business Income Treatment

Buckingham, Doolittle & Burroughs, LLC on

Ohio has finally given taxpayers long-awaited clarity on the tax treatment for sales of business. H.B. 515 specifically addresses two situations when gains from the sale of an equity or ownership interest qualify as...more

Venable LLP

Seller Beware - Court Rules That California Can Tax Gain from the Sale of Goodwill

Venable LLP on

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

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