MTC Working Group Proposes “Finnigan” Model Statute
The Multistate Tax Commission’s (MTC) Combined Filing Model Working Group has drafted a model “Finnigan Method” Combined Reporting Statute. The MTC received a request to…
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Federal Tax Extenders Could Return to Affect 2018 Returns
Taxpayers surprised this filing season that they could not claim certain tax breaks may find relief for their 2018 returns from federal tax extender legislation.…
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Wolters Kluwer Interview: Practitioner Q&A on the Section 199A Deduction
Republicans’ 2017 overhaul of the tax code created a new Section 199A 20-percent deduction of qualified business income (QBI). This new Section 199A QBI deduction,…
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SECURE Act and RESA Bills – 401(k) Changes
401(k) plans may go through several changes if the bills known as the SECURE Act and RESA make it through Congress. The retirement savings legislation…
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State Income Tax for Mobile Workers: Senate Introduces Workforce Simplification Act
To address the complexity of state income tax for mobile workers, U.S. Senators introduced the Mobile Workforce State Income Tax Simplification Act of 2019. The…
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SECURE Act and RESA Bills: 3 Major Changes for IRAs
Bipartisan legislation that would change IRA rules on contributions and distributions, known as the SECURE Act and RESA, has cleared both the Senate Finance and…
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Bipartisan IRS Reform Bill Advances to House Floor
A bipartisan bill that would reform the IRS for the first time in 20 years is headed to the House floor for a full chamber…
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State Response to Federal NOL Changes Under TCJA
With many state legislatures in full swing, state responses to changes in the NOL deduction made by the Tax Cuts and Jobs Act of 2017…
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An IP Holding Company and New Jersey: Facts Creating Nexus
The New Jersey tax court denied an intellectual property (IP) holding company’s summary judgment request regarding income tax nexus because the necessary facts were not…
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State Tax and Internet Data Collection: Extra Value in Customers and Users
States have made progress in taxing internet businesses from income tax to sales tax on interstate transactions, but what about the data customers and other…
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