Massachusetts Creates Apprenticeship Credit
Massachusetts legislation creates a credit program for taxpayers who hire and train apprentices. Taxpayers who qualify for the credit can apply it against: – corporate…
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Senate GOP Tax Writers Clarify Intent on Certain Tax Reform Provisions
Senate Finance Committee (SFC) Republicans are clarifying congressional intent of certain tax reform provisions. GOP Senate tax writers, in an August 16 letter, called on…
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Illinois Restores Cost-Of-Living Increase for Standard Exemption
Illinois restored the cost-of-living increase for its standard personal income tax exemption. The cost-of-living increase was set to automatically expire after the 2017 tax year.…
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Idaho Requires Some Out-of-State Retailers to Collect and Remit Tax
A new “click-through” nexus law, effective July 1, 2018, requires certain out-of-state retailers to collect Idaho sales tax on their sales to in-state customers. (TAXDAY,…
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Arkansas Discusses Impact of Wayfair Decision
Despite the U.S. Supreme Court’s decision in South Dakota v. Wayfair, Inc., the Arkansas Office of Revenue Legal Counsel cannot currently state the sales tax impact…
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Excise Tax Applied to Tobacco Products Manufactured on Indian Allotments
The excise tax on manufactured tobacco products applied to products made by a company that operated on Indian allotments. In a case of first impression,…
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Vermont Follows GILTI But Not IRC §199A Deduction
Vermont follows the federal treatment of global intangible low-taxed income (GILTI) but not the IRC §199A deduction. GILTI Vermont taxable income and net income automatically…
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New Jersey Adopts Economic Nexus for Remote Sellers
Effective October 1, 2018, certain remote sellers will be required to register, collect, and remit New Jersey sales tax. Sales/Economic Thresholds The Division of Taxation…
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Louisiana Remote Sellers Must Collect in 2019
Louisiana will collect sales and use tax from remote sellers beginning January 1, 2019. The Departemnt of Revenue discusses the impact of South Dakota v. Wayfair,…
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AICPA Requests Immediate Guidance on S Corporation Issues
Taxpayers and practitioners need clarity on certain S corporation issues by next tax filing season, the American Institute of CPAs (AICPA) has said. In an…
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