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State Taxes Federal Taxes Tax Reform

McDermott Will & Emery

[Webinar] Tax in the City® - November 2nd, 11:30 am - 1:00 pm PDT

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Recent tax proposals may bring significant changes to the US federal, international and state and local tax landscape. Join us for our first nationwide Tax in the City® program for a discussion on the key proposed changes...more

Kilpatrick

4 Key Takeaways | Mid-Year Tax Update

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On June 22, 2021, Kilpatrick Townsend Tax attorneys Lynn Fowler, Heather Preston, Rob Daily, and Jeff Reed participated in a mid-year tax update webinar hosted by the firm. The webinar discussed recent tax issues in the...more

Katten Muchin Rosenman LLP

2019 Year-End Private Wealth Advisory

In 2019, the Tax Cuts and Jobs Act (the Act) and its resulting tax reform continued to dominate the planning landscape. As outlined in our 2018 Year-End Estate Planning Advisory, the Act made significant changes to individual...more

Bradley Arant Boult Cummings LLP

Alabama Legislature Passes Landmark Financial Institution Excise Tax Reform Bill and Forms Corporate Tax Reform Study Group - SALT...

On Tuesday night, May 28, Gov. Kay Ivey signed into law House Bill 419, the Alabama Financial Institution Excise Tax Reform Act of 2019 (FIETRA), which resulted from a collaborative effort between the banking community,...more

Morrison & Foerster LLP

State + Local Tax Insights: Winter Issue 2019 - MoFo SALT 2018 Year in Review: Continued Success in a Changing State Tax World

MOFO SALT 2018 YEAR IN REVIEW: CONTINUED SUCCESS IN A CHANGING STATE TAX WORLD - Following the enactment of the Federal Tax Cuts and Jobs Act in late 2017, many interesting state tax issues emerged concerning states’...more

Verrill

2018 Year-End Estate Planning Update

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Federal Transfer Taxes - The Internal Revenue Service has announced the annual inflation adjustments for the 2019 tax year... Federal unified gift and estate tax exclusion increasing to $11,400,000: As of January 1,...more

Bradley Arant Boult Cummings LLP

Surging Economy Boosts Alabama 2018 General Fund and ETF Revenues - SALT Alert: Alabama Edition

On October 29, the well-respected Public Affairs Research Council of Alabama (PARCA), headquartered at Samford University, issued a useful report finding Alabama’s “booming economy” had generated substantially increased tax...more

Morrison & Foerster LLP

Massachusetts Proposes Changes to Manufacturing Corporation Regulation

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The Massachusetts Department of Revenue (“Department”) recently promulgated a proposed amended regulation governing the classification of corporations as “manufacturing corporations” for corporate excise tax purposes (the...more

Bradley Arant Boult Cummings LLP

Three Things You Need to Know: How Trump’s “Tax Cuts and Jobs Act” Will Impact State Incentives and Project Recruitment - Economic...

As you may know, President Trump signed into law the Tax Cuts and Jobs Act (TCJA), enacting broad reforms to the Internal Revenue Code. How your state implements these reforms may have an impact on project recruitment and...more

Bradley Arant Boult Cummings LLP

COST Weighs-In on Alabama DOR’s Analysis of Federal Tax Reform - SALT Alert: Alabama Edition

On July 31, the Alabama Department of Revenue (ADOR or Department) released its long-awaited and quite comprehensive analysis of the impact of the Tax Cuts and Jobs Act of 2017 (otherwise known as “federal tax reform”) on...more

Harris Beach PLLC

New York State among Four States to Sue Federal Government over State and Local Taxes

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Earlier today July 17, 2018 New York State was among four states to sue the federal government over State and Local Tax (SALT) deductions being capped at $10,000 as part of recent federal tax law changes. Joining New York in...more

McDermott Will & Emery

New Mexico Administrative Hearings Office Issues Timely Opinion Regarding State Taxation of Subpart F Income and Dividends from...

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Earlier this month, the New Mexico Administrative Hearings Office issued an opinion that addressed the questions on the minds of many state tax professionals in the wake of federal tax reform: under what circumstances can a...more

Skadden, Arps, Slate, Meagher & Flom LLP

New York State Responds to Federal Tax Reform

On March 30, 2018, the New York Legislature passed the 2018–2019 Budget Bill (SB. 7509-C/A 9509-C) (Budget Bill), which addresses several provisions of the newly enacted Tax Cuts and Jobs Act (P.L. 115-97) (TCJA) and...more

Maynard Nexsen

Federal Income Tax Consequences of State Economic Development Incentives After Passage of Tax Cuts and Jobs Act

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South Carolina has a rich mix of economic development incentives. These include income tax credits, sales tax exemptions, property tax exemptions and credits as well as withholding tax credits. Incentives also include cash...more

Morgan Lewis

State Tax Implications of Federal Tax Changes to Section 162(m)

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Due to the varying methods of state conformity to the Internal Revenue Code, both the prior and current versions of Section 162(m) continue to be a consideration for state taxes....more

McDermott Will & Emery

Connecticut Responds to the Federal Repatriation Tax

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Earlier this month, Connecticut Governor Dan Malloy released his Governor’s Bill addressing the various state tax implications of the federal tax reform bill enacted by Congress in December 2017, commonly referred to as the...more

Akin Gump Strauss Hauer & Feld LLP

Dramatic Change to Federal Estate, Gift and Generation-Skipping Tax Exemptions

• Each individual’s exemptions from federal estate, gift and GST taxes have roughly doubled to approximately $11,200,000 • The increased exemptions are available only temporarily, through 2025 • We recommend that you...more

McDermott Will & Emery

Anticipating State Tax Ramifications of Federal Tax Reform

Due to the current impact and the likelihood that states will consider legislation and agency guidance addressing federal tax reform implications for state business taxes, a united, effective, nationwide advocacy effort is...more

McDermott Will & Emery

The Final Tax Reform Act: SALT Implications

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Now that the federal tax reform act has passed, state legislatures will have to consider the extent to which state statutes should be modified to reflect the act’s language and policy decisions. State revenue departments will...more

Cozen O'Connor

Federal Tax Reform: Major Changes Impacting Individuals

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The Tax Cuts and Jobs Act (the Act), signed into law on December 22, 2017, makes major changes to federal income and estate tax law. There are numerous changes in the Act that affect businesses, individuals, tax-exempt...more

Morgan Lewis

State Tax Implications of Federal Tax Reform

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Federal tax reform will have a significant and possibly unexpected impact on state taxes, including on individual deductions and, for corporations, reporting methods and limitations regarding net operating losses and interest...more

McDermott Will & Emery

New SALT Implications in Proposed House and Senate Tax Reform Bills

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The federal tax reform legislation is a work in progress, and its final form will undoubtedly be affected by political considerations and lobbying by interested parties. Both the House and Senate bills deserve careful study...more

Goodwin

Year-End Tax Planning, Tax Reform and Proposed 2704 Regulations Withdrawn

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With the end of year approaching, now is the time to consider making gifts to lower your federal and state estate tax liability. That tax liability, however, could change with impending federal tax reform. Regardless of the...more

McDermott Will & Emery

State and Local Tax Aspects of Republican Tax Reform Framework

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The White House and Republican congressional leadership released an outline this week to guide forthcoming legislation on federal tax reform. The states conform to the federal tax laws to varying degrees and the extent to...more

McDermott Will & Emery

SALT Implications of Final Section 385 Debt-Equity Regulations

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The recently released final regulations under Internal Revenue Code Section 385, addressing the circumstances under which related company debt will be classified as equity for federal income tax purposes, will have a...more

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