Amazon.com, a retail online vendor, recently suffered a setback in a New York court, where it was contesting a newly enacted New York statute requiring online vendors with no direct physical presence in New York to collect sales tax on goods sold into the state.
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State & Local Tax (SALT)
Refundable State and Local Tax Credits
The IRS has not issued published guidance on corporations’ tax treatment of refundable state and local tax credits. However, the Office of Chief Counsel, through a recent legal memorandum and other informal nonprecedential advisories, has provided insight as to the treatment of these credits.
Current Corporate Income Tax Developments (Part II)
During 2008, numerous state statutes were added, deleted, or modified; court cases were decided; regulations were proposed, issued, and modified; and bulletins and rulings were issued, released, and withdrawn. This article covers some of the more important developments in apportionment, unitary groups/filing methods, administration, flowthrough entities, and other significant corporate state tax issues.
Current Corporate Income Tax Developments (Part I)
During 2008, there were many changes in the area of state and local corporate income taxation. This article focuses on some of the more interesting items in the following corporate income tax areas: nexus, tax base, allocable/apportionable income.
Maryland Tax Court Adopts Economic Substance Doctrine
Two recent decisions highlight the Maryland Tax Court’s creation and use of the economic substance doctrine in cases involving the use of intangible holding companies.
California Combined Report Includes Unitary Insurance Subsidiary
The California State Board of Equalization ruled that a taxpayer’s combined report should include a wholly owned unitary insurance subsidiary.
State Research Credits
Practitioners with clients conducting qualified research could find some hidden gems among state research credits
Continued Trend Toward State Related-Party Expense Addback
In recent years, several states have enacted provisions requiring the addback of certain related-party expenses.
Massachusetts Corporate Tax Law Changes Effective in 2009
Massachusetts enacted a law aimed at simplifying the corporate tax structure and raising revenue while cutting corporate tax rates
Massachusetts Taxes All Contributions to 401(k) Plans by Self-Employed Individuals
Contributions made to a 401(k) plan by self-employed individuals are not deductible for Massachusetts income tax purposes effective for tax years beginning on or after January 1, 2008
Recent Trends and Developments in Sales and Use Taxation
Business taxpayers can expect their indirect tax expenses, from both tax outlay and cost of compliance standpoints, to increase over the next year as the state fiscal environment remains bleak.
New Developments in the Texas Franchise Tax
On May 18, 2006, Texas governor Rick Perry signed legislation that completely revamped the Texas franchise tax law (2006 TX H.B. 3).
Court Again Finds Cal. LLC Fee Unconstitutional
A California appeals court has once again held that the California limited liability company (LLC) fee is unconstitutional because it is not apportioned based on California activity of an LLC.
The Michigan Business Tax: New Developments
Editor: Frank J. O’Connell Jr., CPA, Esq. Since being enacted in July 2007, the Michigan Business Tax (MBT) has undergone constant legislative changes and administrative clarifications in the form of revenue administrative bulletins (RABs) and frequently asked questions (FAQs) issued by the Michigan Department of Treasury (see Treasury’s website at
Comparing the Value-Added Tax to the Retail Sales Tax
Editor: Scott Salmon, CPA, M. Acc. Over the past few decades, the value-added tax (VAT) has become the fastest-growing indirect tax globally (see Schenk and Oldman, Value Added Tax: A Comparative Approach 1 (Cambridge University Press 2007)). With the exception of the United States, most countries’ fiscal authorities rely far
Texas Comptroller Provides Rules on the Texas Franchise Tax
A current movement in state taxation is the introduction of a gross receipts or modified gross receipts tax in place of a net income tax.
A New Dimension for LLCs in California
California enacted legislation in 2007 to address the unconstitutional aspects of the California limited liability company (LLC) fee based on gross receipts assessed on LLCs doing business in California.
Federal, State, and Local Tax Incentives for Environmental Remediation Costs
This item provides a high-level overview of the most common federal, state, and local tax incentives and a brief update of the federal rules regarding the expensing of environmental remediation costs.
Gross Receipts Taxes: A Growing Trend in State Taxation
As states try to reduce budget deficits and find more forms of tax revenue, they are increasingly looking at gross receipts taxes as a viable way to tax corporations.
Current Corporate Income Tax Developments (Part II) – 2008
This article covers some of the more important developments in apportionment formulas, unitary groups/filing methods, administration, flowthrough entities, and other significant corporate state tax issues.
PRACTICE MANAGEMENT
2026 tax software survey
CPAs rate their return preparation software’s performance during this year’s tax season.
