States vary in their treatment of partnership adjustments made under the centralized partnership audit regime instituted by the Bipartisan Budget Act of 2015.
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Topics
State & Local Tax (SALT)
Recent developments in states’ PTETs
This column offers updates and resources regarding the passthrough entity taxes that have been implemented in three dozen states.
Wealth migration and change of domicile
Taxpayers joining an exodus from higher-taxed states should understand the challenges of reestablishing their tax residency.
Understanding state tax conformity
Recent federal tax law changes can affect each U.S. state’s taxpayers differently, depending partly on the state’s method of conformity to the Internal Revenue Code.
Is Illinois’s sales tax playing field really level?
A lawsuit alleges that Illinois’s effort after Wayfair to make its sales tax regime fairer for in-state retailers unconstitutionally discriminates against remote retailers.
Inconsistency in state conformity to the Code
Some curious complexities can arise because of how states conform to the federal Internal Revenue Code, and recent examples illustrate the importance of paying close attention to these nuances.
New York City office-sharing agreements and commercial rent tax
A ruling by New York City’s Department of Finance indicates that businesses engaged in agreements to share office space may incur the city’s commercial rent tax.
State income tax considerations for non-US corporations
Foreign corporations operating in the United States need to be aware of state income tax rules, including those involving nexus, determining state taxable income, and filing methods.
ASC Topic 740 and state taxes continue to require due diligence
Properly accounting for state income taxes in financial statements has become more complex due to changing tax rules and business evolution.
PTETs: Orchestrating ASC 740 compliance
Passthrough entity tax (PTET) elections give partners and shareholders a workaround to the $10,000 deductibility limit for state and local taxes for individuals, but entities must reckon with their financial accounting implications while adapting to a wide variety of state PTET regimes.
State responses to federal changes to Sec. 174
With a number of states having decoupled from the new federal requirement for research and experimental expenditures to be capitalized, multistate businesses must survey potentially varied state deductibility.
A cautionary tale: Challenges for firms in Wayfair compliance
Lessons can be learned from an accounting malpractice lawsuit alleging failure to advise a client about Wayfair.
State filing one month after federal: AICPA resources for state CPA societies
The AICPA, state CPA societies, and other tax policy and advocacy organizations work to encourage states to make their return filing dates one month after those for corresponding federal returns.
A quick guide to disputing California tax assessments
It pays for taxpayers and their advisers to know how and when to respond when California sends unexpected tax-due or audit notices.
Massachusetts state tax implications for sales of PTE interests
When the sale of an interest in a PTE is contemplated, planning for state sourcing and taxability of the gain should both be considered so the owners avoid a large — and sometimes unexpected — state income tax liability.
Update on states moving ahead with PTETs
States continue to move ahead with implementing new passthrough entity taxes as a workaround to the $10,000 cap on the federal deduction of state and local taxes.
Multistate businesses: What to do when state tax apportionment rules are unfair
Taxpayers may request an alternative method if they believe standard apportionment is not equitable in their situation.
South Dakota v. Wayfair — five years later
The expected and unexpected tax impacts of the landmark Supreme Court decision have increased the complexity of sales tax compliance for taxpayers.
Taxing marketplace facilitators: Sourcing issues
This items discusses how various types of revenue earned by marketplace facilitators may be sourced under state laws and regulations.
State tax considerations for financial institutions
This item identifies key state and local tax considerations financial institutions should timely review to be compliant and avoid traps for the unwary.
TAX PRACTICE MANAGEMENT
2025 tax software survey
AICPA members in tax practice assess how their return preparation software performed during tax season and offer insights into their procedures.
