PA Net Loss Carryover Deduction Unconstitutional
The Pennsylvania Supreme Court held that, as it was applied in 2007 to a corporate net income taxpayer, a statutory limitation on the net loss…
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Airbnb to File New Hampshire Returns for Hosts
Airbnb will have a New Hampshire meal and rooms rentals license as of November 1, 2017. It will collect, file, and remit returns on behalf of…
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MD Imposed Tax on MI Subsidiary’s Intercompany Loan Interest
A corporation operating in Michigan was liable for Maryland tax on interest income it received on loans made to a parent company in Maryland. The…
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AICPA Experts Highlight Tax Reform
The “Big Six” tax reform framework is driving the major focus of tax reform today, Edward Karl, CPA, AICPA Vice President of Taxation, said on…
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Regulations Modify Treatment of Federal Financial Assistance to Troubled Bank and Thrift Institutions (T.D. 9825)
Final regulations modify and clarify the treatment of Federal Financial Assistance (FFA) provided to troubled banks and thrift institutions and related parties. The new regulations include…
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Trump Meets on Tax Reform with Bipartisan Senate Finance Members
President Trump invited bipartisan members of the Senate Finance Committee (SFC) to the White House on October 18 for a meeting on tax reform. Democratic…
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5 Reasons to Move to the Cloud
There are many reasons to move to the cloud and very few reasons not to. That’s why more than half of all CPA firms have…
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Bank has B&O Tax Nexus With Washington
An out-of-state bank had substantial nexus with Washington and was responsible for B&O taxes. The bank conducted two businesses: a general credit card business; and…
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Sales Activities Established Nexus With MD
A Connecticut pet product company in Connecticut was liable for Maryland corporate income taxes since the business activities of its employees in Maryland exceeded the…
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California Water’s-Edge Elections Guidance Expanded
The California FTB extended the application dates for its treatment of a water’s-edge election when the expanded “doing business” standards result in a unitary foreign…
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