News & Analysis as of

State Taxes

IRS Says Not So Fast to States' Attempts to Convert High State and Local Tax Obligations to Charitable Deductions to Escape TCJA...

In Notice 2018-54, the IRS has notified taxpayers that proposed regulations are forthcoming which will deny state attempts to convert a taxpayer’s state and local tax obligations to a charitable deduction in order to avoid...more

IRS to Issue Regulations Addressing $10,000 Limit on State and Local Tax Deduction

by Ruder Ware on

Yesterday, the IRS issued Notice 2018-54 and an accompanying news release stating that proposed regulations will be issued addressing the deductibility of state and local tax payments for federal income tax proposes....more

IRS Notice on State and Local Tax Deductions

by Williams Mullen on

On Wednesday, May 23, 2018, the U.S. Department of the Treasury and the IRS issued Notice 2018-54 (the “Notice”), stating they will propose regulations to address the deductibility of state and local tax payments for purposes...more

Channeling Lewis Carroll: Connecticut Estate and Gift Tax Tables are (Still) Unclear

by Murtha Cullina on

Through no fault of the Connecticut General Assembly, in late 2017 our newly increased Connecticut estate and gift tax exemptions were partially affected by the 2017 Federal Tax Act, commonly known as the Tax Cuts and Jobs...more

IRS Cautions Taxpayers Regarding Efforts To Bypass New State And Local Tax Deduction Caps

by Fox Rothschild LLP on

Today the Internal Revenue Service notified taxpayers that it will soon be issuing regulations addressing the deductibility of state and local tax payments for federal income tax purposes. The IRS also reminded taxpayers that...more

Connecticut Seeks a Part of the Wayfair Action

by Pullman & Comley, LLC on

A bill passed in Connecticut’s 2018 legislative session seeks to expand the conditions under which certain out-of-state retailers must collect and remit Connecticut sales tax....more

Cannabis Industry State Tax Guide

by Fox Rothschild LLP on

Businesses in the legalized cannabis sector face a daunting task in complying with st ate and Federal tax laws. This Guide is designed to assist in tax compliance by providing quick access to the relevant tax provisions in...more

Legislative Changes to the Connecticut Income Tax

by Murtha Cullina on

On May 9, 2018, the Connecticut legislature unanimously passed the “Act Concerning Connecticut’s Response to Federal Tax Reform” (the “Act”). The Act includes a series of Connecticut income changes that either diminish the...more

Iowa Legislature Passes Kill-Quill Bill

by Davis Brown Law Firm on

On May 5, 2018, the Iowa Legislature passed Senate File 2417. It is the most significant Iowa income tax cut bill in recent memory and substantially lowers individual Iowa income tax rates. It conforms to many provisions of...more

State + Local Tax Insights: Spring Issue 2018

by Morrison & Foerster LLP on

CONTRACT MANUFACTURING AND MASSACHUSETTS: OUT-OF-STATE BUSINESSES BEWARE - In Massachusetts, the concept of manufacturing has evolved. Smoke stacks and assembly lines, once common in the Commonwealth, continue to...more

Revenue Laws Study Committee Releases Revised Version of Draft Tax Bill

by Smith Anderson on

On Tuesday, May 8th, the General Assembly’s Revenue Laws Study Committee released a revised version of its draft tax bill intended for introduction in the legislature’s upcoming short session. The original version of the...more

South Carolina Court Rules that Separately-Stated Service Charges are not Subject to Sales Tax

by McNair Law Firm, P.A. on

In an important decision, the South Carolina Administrative Law Court (ALC) recently ruled that a bartending service was not liable for sales tax on separately-stated service charges. See A Southern Bartender v. South...more

2018 is a Unique Year for Taxes

by Womble Bond Dickinson on

You may be happy that a refund is coming, or you may be steamed at the amount of taxes you had to pay. Regardless, the experience you had for the 2017 tax season likely will be significantly different from the 2018 tax...more

The New York Business And Changing Domicile – “Let It Go, Let It Go”

by Farrell Fritz, P.C. on

There is a common theme that runs through the history of most closely held businesses. It begins with a motivated, diligent, and independent individual who is not afraid to take charge and to make things happen. Add a bit of...more

Take It with a Grain of SALT: Jersey’s Tax Workaround

by McGuireWoods LLP on

On May 4, New Jersey Governor Phil Murphy signed into law a provision that attempts to bypass the GOP tax law’s cap on the state and local tax deduction (SALT), which imposes a $10,000 federal limit on state and local tax...more

[Event] Spring 2018 Tax Forum - May 17th, Richmond, VA

by Williams Mullen on

Please join us for the Spring Tax Forum to be held at the Williams Mullen Center on Thursday, May 17, 2018. We will provide an overview of the impact of The Tax Cuts and Jobs Act and share our best practices on tax...more

Personal Liability For Sales Tax In N.Y. LLCs

by Farrell Fritz, P.C. on

“Personal liability?!” the client screams. “For sales tax? How is that possible?” The look on their face is at once incredulous and accusatory. “Didn’t you say that the LLC would protect me and my assets from the liabilities...more

News from Second & State

Last week, the Senate was the only chamber in session. This week, it was the House of Representatives’ turn to be in Harrisburg for three session days. On Monday, the House Consumer Affairs Committee held a public hearing...more

5 Key Takeaways: South Dakota v. Wayfair: The United States Supreme Court Reconsiders Sales/Use Tax Nexus

Jeffrey S. Reed, Chair of Kilpatrick Townsend’s State and Local Tax Group, spoke at Tax Executives Institute’s Tax School in Dallas, Texas, on April 25th. He discussed the South Dakota v. Wayfair oral argument, which occurred...more

Appealing A South Carolina State Tax Case: Payment Or Bond?

by McNair Law Firm, P.A. on

Taxpayers who disagree with a proposed tax assessment issued by the South Carolina Department of Revenue (SCDOR or DOR) may or may not be able reach an agreement at the administrative level. When taxpayers and SCDOR cannot...more

Minnesota Legislative Update: House Tax Bill Proposal Tackles TCJA Conformity

by Faegre Baker Daniels on

With three weeks left of session, lawmakers have picked up the pace to get their work done. On Thursday, the Senate passed their supplemental budget bill off the Senate Floor and the House passed the education portion of...more

News from Second & State

Weekly Wrap - It’s been a rare week so far this year when both chambers have been in session and this week was no different, as only the Senate convened for three days of voting session. On Monday, the Senate...more

Pending campaigns and elections legislation

by Bricker & Eckler LLP on

As with every General Assembly, the Ohio Legislature introduces countless measures related to Ohio’s elections and campaign finance laws. These proposals range from amending Ohio’s laws for voter registration to allocating...more

Indiana 2018 Legislative Wrap-Up

by Faegre Baker Daniels on

Indiana lawmakers concluded their 2018 short legislative session a little after midnight on March 14, having completed most of their legislative agenda and a lot of important work. Despite the productive session, Governor...more

Minnesota Legislative Update: Movement Before Third Committee Deadline

by Faegre Baker Daniels on

The Minnesota House and Senate spent most of this week moving omnibus finance bills through committee. Committees held day and evening meetings to allow time for public testimony and amendments and to ensure that the third...more

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