State Tax Headlines

Oregon enacted legislation: creating a Corporate Activity Tax (CAT) on certain gross receipts; and reducing the personal income tax rates for the lowest three brackets.…

Illinois took one more step closer to adopting graduated personal income tax rates. State lawmakers ended the last week of their regular session by: agreeing…

Lawmakers resurrected proposals (S.B. 16 and H.B. 86) to amend the Massachusetts Constitution to allow an additional income tax on millionaires. What Do the Amendments…

Tennessee has enacted changes or modifications for global intangible low-taxed income (GILTI) and repatriation income. Excise Tax Subtractions for GILTI and Repatriation Income The new…

Iowa has enacted legislation: clarifying that the IRC Sec. 199A deduction applies to IRC Sec. 199A(a) and 199A(g), retroactive to January 1, 2019; updating the…

Iowa tax reform makes changes to sales tax economic nexus and other sales and excise tax rules. Transaction Threshold for Economic Nexus The tax reform…

Economic nexus laws enacted post-Wayfair targeting remote sellers and marketplace facilitators vary from the laws in the Wayfair case. Some states have followed the standards…

New York may enact a law requiring it to release state tax returns to Congress. However, New York tax returns could be released only to…

Local governments may grant a Maryland property tax credit on the eligible assessment of taxes imposed on qualified opportunity zone business property. What property is…