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State Taxes Financial Institutions

Freeman Law

What Can the State of Texas Do to Collect State Taxes?

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So, the Texas Comptroller of Public Accounts (“Comptroller”) says you owe state tax. If the deficiency determination hasn’t yet become final, you still may be able to challenge the underlying tax liability (for more on that,...more

Blank Rome LLP

When a Court Misses the Mark

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The Washington Supreme Court recently reviewed the much-maligned additional Business & Occupation (“B&O”) tax on certain financial institutions. Washington Bankers Ass’n v. Dep’t of Revenue, No. 98760-2 (Wash. Sept. 30, 2021)...more

BakerHostetler

[Podcast] When States Export Their Tax Burden - Washington Bank Surcharge

BakerHostetler on

In this episode - an update to episode 98 - Matt Hunsaker explains the Washington Supreme Court's decision in Washington Bankers Association v. Wa. Department of Revenue, in which the court concluded that a tax designed to...more

Foster Garvey PC

The Washington State Supreme Court Renders a Decision Impacting Financial Institutions Doing Business in the State

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On September 30, 2021, the Washington State Supreme Court upheld the constitutionality of the additional 1.2 percent business and occupation (B&O) tax imposed by the 2019 Substitute House Bill 2167 (“SHB 2167”) on “specified...more

Schwabe, Williamson & Wyatt PC

Oregon Department of Revenue Finalizes Second Set of Permanent Oregon Corporate Activity Tax Rules, and Other Tax Updates

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

Foster Garvey PC

Upcoming CAT Call – Speak Now or Forever Hold Your Peace!

Foster Garvey PC on

The Oregon Department of Revenue (“DOR”) announced that it will be conducting a public hearing on June 23, 2020 to discuss a second set of temporary administrative rules relative to the Oregon Commercial Activity Tax (the...more

Foster Garvey PC

More Good News for Oregon Taxpayers – The Oregon Department of Revenue Got It Right

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New guidance from the Oregon Department of Revenue (the “DOR”) with respect to Oregon’s Corporate Activity Tax (“CAT”) was issued Wednesday, May 6th. Specifically, the DOR announced that: - Certain forgivable federal...more

Pillsbury - SeeSalt Blog

Washington B&O Tax Litigation Hits Financial Services Industry

A Washington state trial judge partially granted the state’s motion to dismiss a lawsuit challenging the validity of a recently enacted Washington tax measure that increases the state’s Business & Occupation Tax (“B&O Tax”)...more

Nelson Mullins Riley & Scarborough LLP

Gold Dome Report - February 2020 #3

Conversations in the halls throughout the State Capitol swung from pending legislation to planning for winter vacations as House and Senate leaders applied the brakes to the 2020 Legislative Session today....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

Stoel Rives LLP

Oregon Enacts New Corporate Activities Tax

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On May 16, 2019, Oregon Governor Kate Brown signed into law HB 3427 (the Bill), which creates a new Corporate Activities Tax. The tax is a gross receipts tax that will be used to establish the “Fund for Student Success,”...more

Bradley Arant Boult Cummings LLP

Proposed Updates to Alabama Business Tax Laws: Summary of the Financial Institution Excise Tax Reform Act of 2019 and Alabama...

Two landmark bills were introduced in the Alabama Legislature on April 11, potentially affecting numerous businesses in the state. Committees of the House of Representatives are expected to consider the Financial Institution...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

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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