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State Taxes Income Taxes Tax Exemptions

Bowditch & Dewey

Olympic Medals and Income Tax

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The 2024 Paris Olympics are in full swing, and it is never too early for U.S. athletes to consult with their tax advisor. As was done in 2021, the United States Olympic & Paralympic Committee has pledged to award U.S....more

Roetzel & Andress

Now That We’ve Seen the Eclipse, It’s Time To Plan for the TCJA Sunset

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As the ball drops in Times Square on December 31, 2024, many of the tax breaks established by the Tax Cuts and Jobs Act (TCJA) of 2017 will disappear. While the TCJA made some permanent tax cuts, a number of tax cuts and...more

Baker Donelson

SALT Select Developments - March 2024

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State and local taxes impact almost every taxpayer, and developments in any one jurisdiction can be frequent and sometimes confusing. ln this newsletter edition, we will briefly summarize selected state and local tax (SALT)...more

Baker Donelson

SALT Select Developments - November 2023

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State and local taxes impact almost every taxpayer, and developments in any one jurisdiction can be frequent and sometimes confusing. ln this newsletter edition, we will briefly summarize selected state and local tax (SALT)...more

Bowditch & Dewey

Massachusetts Tax Reform Enacted – Estate Tax Exemption Increase and Other Help for Residents

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The long-awaited Massachusetts tax reform package was signed by Governor Maura Healey on Wednesday, October 4, 2023. Among the provisions: Estate Tax Reform: Establishes a non-refundable credit of $99,600 for each estate,...more

Baker Donelson

SALT Select Developments - July 2022

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State and local taxes impact almost every taxpayer, and developments in any one jurisdiction can be frequent and sometimes confusing. In this newsletter edition, we will briefly summarize certain SALT developments in several...more

Baker Donelson

SALT Select Developments - June 2022

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State and local taxes impact almost every taxpayer, and developments in any one jurisdiction can be frequent and sometimes confusing. In this newsletter edition, we will briefly summarize certain SALT developments in several...more

Perkins Coie

Real Estate Excise Tax Exemption Encourages Affordable Housing

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Transfers of real property to certain qualifying entities will no longer be subject to real estate excise tax in Washington State, effective on January 1, 2023. The Washington State Legislature passed Engrossed House Bill...more

Baker Donelson

SALT Select Developments - May 2022

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State and local taxes impact almost every taxpayer, and developments in any one jurisdiction can be frequent and sometimes confusing. In this newsletter edition, we will briefly summarize certain SALT developments in several...more

Baker Donelson

SALT Select Developments - April 2022

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State and local taxes impact almost every taxpayer, and developments in any one jurisdiction can be frequent and sometimes confusing. In this newsletter edition, we will briefly summarize certain SALT developments in several...more

Foster Garvey PC

Maryland Takes a Beat on Its New Digital Advertising Tax

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Last week, we reported on Maryland’s new gross receipts tax on revenues derived from digital advertising services (the “Tax”), the first of its kind in the nation. Affected taxpayers and tax practitioners alike can breathe a...more

BakerHostetler

Taxing Santa - A Satirical Summary of 2020 State Tax Issues

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In this light-hearted episode, Matt Hunsaker explains how Wayfair, marketplace facilitator laws, false claims acts, economic nexus, the manufacturing exemption, and other issues apply to Santa Claus....more

Burr & Forman

SCDOR Issues New Guidance on South Carolina Tax Appeal Procedures

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The South Carolina Department of Revenue (“DOR”, “SCDOR”, the “Department”) recently issued SC Information Letter #20-22 in which it released a series of helpful “Information Guides” concerning updated and specific...more

Bowditch & Dewey

Tax Incentives for Manufacturing Corporations

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In these challenging times, businesses might seek to evaluate whether certain local tax incentives offered by the Commonwealth of Massachusetts are available to them. “Manufacturing Corporations,” for example, receive a...more

McAfee & Taft

Maintaining Oklahoma tax incentives after COVID-19

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As businesses look to reopen and recover from the COVID-19 pandemic, they should be attentive to Oklahoma tax incentives previously awarded to them to ensure all requirements are met to continue to avail themselves of these...more

Buckingham, Doolittle & Burroughs, LLC

Ohio sales / use tax: Statute expanding oil & gas exemption applies retroactively to purchases of hydraulic fracturing equipment

The Tenth District Ohio Court of Appeals recently applied a statutory amendment clarifying the oil & gas exemption for Ohio sales & use tax retroactively. Interestingly, while this appeal was pending at the Board of Tax...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

Smith Anderson

Tax Provisions in the North Carolina 2019 Appropriations Act

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This Alert summarizes the more significant tax provisions included in House Bill 966, the 2019 Appropriations Act (the “Bill”). The Bill, a Conference Committee measure reconciling the House and Senate budget proposals, was...more

Vedder Price

A Small Win: Illinois to Phase-Out Franchise Tax

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On June 5, 2019, Illinois Governor J.B. Pritzker signed a $40 billion state budget bill into law. Among the various provisions included in the over 300 page budget is a provision providing for the phase-out of Illinois’...more

A&O Shearman

Estate Planning Advisory

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As a general rule, it is advisable to revisit your estate plan every few years, or if some major change occurs in your personal circumstances or in applicable law. Recent historic changes to the tax law warrant revisiting...more

Kilpatrick

Supreme Court Invalidates West Virginia Income Tax Scheme

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Earlier this week the United States Supreme Court, in a per curium opinion, struck down a West Virginia income tax scheme that exempts from tax the retirement benefits of certain state officials while taxing the retirement...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

Summary of Newly Released ADOR Analysis of Federal Tax Reform's Impact on Alabama Income Tax Laws - SALT Alert: Alabama Edition

On July 31, the Alabama Department of Revenue (ADOR) released its long-awaited “Analysis of Federal Tax Law Revisions on the State of Alabama,” a comprehensive review of the changes brought about by the Tax Cuts and Jobs Act...more

Womble Bond Dickinson

2018 is a Unique Year for Taxes

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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

Harris Beach PLLC

The New York State Budget: New Tax Code and Record Funding for Education

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The recent passage of the state’s budget, which took effect on April 1, 2018, aims to provide relief to the middle class to combat the change in federal tax law. New York is making a concerted effort to protect...more

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