New York ~ Sales and Use Tax: Sales of Warm Cookies Taxable
A taxpayer’s sales of cookies in a heated state through retail stores are subject to New York sales tax. The taxpayer’s business model is focused…
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Louisiana ~ Sales and Use Tax: Dialysis Clinic’s Purchases of Drugs Administered to Medicare Patients Not Exempt
The operator of a dialysis facility did not qualify for a Louisiana local sales tax exemption or exclusion for its purchases of prescription drugs from…
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Georgia ~ Motor Fuel Tax: Rates for Second Half of 2016 Announced
The Georgia Department of Revenue has issued a bulletin providing the state excise tax rates for sales of motor fuel sold to any purchaser not…
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Arkansas ~ Corporate Income Tax: Apportionment Using Market-Based Sourcing Sustained
A denial of a corporate income taxpayer’s refund claims was upheld because the taxpayer failed to show by a preponderance of the evidence that the…
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IRS Announces Interest Rates Unchanged for Calendar Quarter Beginning July 1, 2016 (IR-2016-84; Rev. Rul. 2016-12)
The IRS has announced that the interest rates for the calendar quarter beginning July 1, 2016, will remain at 4 percent for overpayments (3 percent…
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North Carolina ~ Corporate, Personal Income Taxes: IRC Conformity Tie-In Date Updated
North Carolina Gov. Pat McCrory has signed legislation that updates the Internal Revenue Code (IRC) tie-in date for determining corporate and personal income tax liability…
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Minnesota ~ Corporate, Personal Income Taxes: Angel Investment Credit Amended
Recently enacted Minnesota legislation modifies the corporate and personal income tax angel investment credit in a number of ways, including expanding the securities for which…
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Connecticut ~ Multiple Taxes: Market-Based Sourcing Rules Enacted, Sunset Dates for First Five Projects and Angel Investor Credits Extended
Connecticut Gov. Dannel P. Malloy has signed biennium budget legislation that contains several changes to corporation business and personal income tax provisions. Changes to sales…
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Alabama ~ Corporate Income Tax: Apportionment Rules Repealed and Replaced
The Alabama Department of Revenue has repealed and replaced its apportionment rules for corporate income taxpayers, effective June 25, 2016. The new multistate tax rules…
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Weekly Report from Washington, D.C.
Congress continued its Memorial Day recess, with lawmakers due back in session the week of June 6. House Republicans are expected to released a tax…
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