News & Analysis as of

State Taxes New Regulations

Littler

Watch Out New York – New Jersey Wants Its Taxes Too!

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On July 21, 2023, New Jersey Governor Phil Murphy signed Assembly Bill No. S3128/A4694 into law, which implements an aggressive tax treatment of nonresidents who work for New Jersey employers.  The law essentially adopts the...more

Goulston & Storrs PC

Taxachusetts Redux? The New Massachusetts Millionaires Tax

Goulston & Storrs PC on

On November 8, 2022, Massachusetts voters elected to adopt Question 1, the so-called Fair Share Amendment or Massachusetts Millionaires Tax, through a ballot referendum. The referendum amends the Massachusetts state...more

Eversheds Sutherland (US) LLP

Oregon DOR CAT rulemaking in full swing

With fall rulemaking underway, the Oregon Department of Revenue (DOR) has issued several amendments to, and new regulations related to, Oregon’s Corporate Activity Tax (CAT). On October 27, the Oregon DOR held a public...more

Eversheds Sutherland (US) LLP

Down a rabbit hole: New Jersey regulations provide guidance on GILTI and FDII apportionment

The New Jersey Division of Taxation (Division) quietly issued special regulations addressing the inclusion and apportionment of global intangible low-taxed income (GILTI) and foreign-derived intangible income (FDII) for...more

Ballard Spahr LLP

IRS Finalizes Regulations Disallowing Workarounds for State and Local Taxes

Ballard Spahr LLP on

The IRS recently published Final Regulations and Notice 2019-12 largely blocking state efforts to circumvent limitations on deductions for state and local taxes. (See our alert on the Proposed Regulations, issued in August...more

Parker Poe Adams & Bernstein LLP

S.C. Avoids Accounting Nightmare for 2018 Tax Returns and Expands Tax Credits for Economic Development

The South Carolina legislature finalized two bills this week that will impact economic development, the broader business community, and nearly every taxpayer in the state. The bill with the widest impact – H.5341 – was...more

Stoel Rives - Renewable + Law

Maryland Passes Bill to Allow 30% State Income Tax Credit for Energy Storage

In what some commentators are calling the first of its kind, Maryland’s legislature has passed a bill that would allow taxpayers to claim a state income tax credit equal to 30% of the installed cost of an energy storage...more

Faegre Drinker Biddle & Reath LLP

New State Sales Tax Provisions Attempt to Create Nexus for Out-of-State Sellers

Two states are challenging a longstanding constitutional principle established by the U.S. Supreme Court in Quill Corp. v. North Dakota, 504 U.S. 298 (1992), that only a seller with a physical presence in a state can be...more

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