Using a Third-Party to Audit Unclaimed Property? Take Note…
States that use third-parties to audit unclaimed property liability may want to take note of Univer v. Geisenberger, et al., (C.A. No. 18-1909 (MN), Sep. 17,…
read more
Florida’s Automatic Rate Reduction Triggers Refund Opportunities
Florida law provides automatic corporate income tax rate reductions and refunds based on collections for the tax. The Florida Department of Revenue recently announced a…
read more
New Hampshire Adjusts Rates, Possibly Adopts Singles Sales Factor Apportionment
New Hampshire enacted legislation: changing the rates of the business profits and the business enterprise taxes; andpossibly adopting singles sales factor apportionment for the business…
read more
Taxpayers Seek High Court Review in Maryland “Enterprise Dependency” Nexus Case
Taxpayers have asked the U.S. Supreme Court to review if Maryland can base corporate income tax nexus on “enterprise dependency.” Taxpayers’ Business The taxpayers (Staples,…
read more
New Hampshire Enacts Market-Based Sourcing
New Hampshire enacted market-based sourcing for sales of intangible property for the business profits and business enterprise taxes. The changes take effect January 1, 2021…
read more
Hawaii’s Income Tax Nexus Standard
Hawaii enacted a new income tax nexus standard for tax years beginning after 2019. Businesses with no physical presence in Hawaii will owe state income…
read more
State Tax Treatment of Corporate Capital Gains and Losses
Most states tax corporate capital gains and losses in the same manner as under federal law. But several states differ on the deductibility of capital…
read more
Can States Tax Income From Out-of-State Trusts?
The U.S. Supreme Court ruled in North Carolina Department of Revenue v. The Kimberley Rice Kaestner 1992 Family Trust that states cannot tax the income…
read more
Back-to-School Shoppers Find Tax Relief in Sales Tax Holidays
Sales tax holidays are back!…in some states As summer winds down, parents across the country are shifting their thoughts from lazy summer days to the…
read more
Arizona Retroactively Conforms to Tax Cuts and Jobs Act
Arizona retroactively conformed to income tax changes made by the Tax Cuts and Jobs Act. A bill signed by the governor on May 31, 2019,…
read more