Maryland’s new sales tax regime expansively taxes digital products, and its digital advertising tax is the first of its kind.
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State & Local Tax (SALT)
Recent developments involving limitations to state NOL usage
taxable income with recognized losses. This item focuses on legislative developments in California, Illinois, and Kansas, as well as judicial decisions in Pennsylvania and New Jersey, that highlight imposed limitations on NOL usage.
A review of Multistate Tax Commission’s statement on how P.L. 86-272 applies to internet sales
The MTC approved a revision to its “Statement of Information Concerning Practices of the Multistate Tax Commission and Supporting States Under Public Law 86-272,” which added a section on activities conducted over the internet.
SALT payments before year end a priority for passthroughs
To be deductible at the entity level, payments by passthrough entities of state and local taxes should be made in the tax year of the liability, but state-specific elections may complicate that timing, tax advocates advise.
Decoding the Senate Finance Committee’s Build Back Better text
The Senate Finance Committee has released language for its portion of the reconciliation bill, which some lawmakers would like to pass before Christmas. Here’s what you need to know about the timeline and the bill, which includes several key tax provisions.
Senate Finance Committee releases tax provisions of Build Back Better Act
The Senate Finance Committee’s text includes changes from the House’s version of the bill, including a removal of the House’s increase in the SALT deduction cap.
Remote work creates a spectrum of state and local tax issues
The COVID-19 pandemic is forcing businesses to reevaluate tax obligations as the proliferation of remote working raises a broad array of state and local tax issues, including nexus, apportionment, compliance, and financial statement reporting.
Sales and use taxes: Loss contingencies
This item discusses FASB Contingencies standards in the context of potential loss contingencies related to sales and use taxes.
The state of economic nexus
Wayfair’s reverberating effects have resulted in a complex web of state tax rules that create dangerous pitfalls for the unwary.
Three years after Wayfair: Future impact and lingering issues
State efforts to streamline sales and use tax reporting could significantly reduce burdens imposed on small businesses in a post-Wayfair environment.
— and also result in
better compliance
and increased
revenue.
Illinois PTE tax would provide SALT cap workaround
This item discusses Illinois Legislature’s S.B. 2531, which includes a PTE tax that allows a workaround to the federal $10,000 limitation for state and local tax deductions.
Business property taxes: COVID-19’s effect on valuation
The COVID-19-related downturn and its impact on
commercial property values offers an opportunity to claim favorable valuations on returns as they are filed or to challenge valuations from state taxing
authorities.
Supreme Court declines to take up remote worker taxation case
The US Supreme Court declined to allow New Hampshire to sue Massachusetts over a pandemic-related regulation that allows Massachusetts to continue to collect state income tax from remote workers who normally work in Massachusetts.
Cryptoasset mining and state tax incentives
This item describes state tax incentives available to businesses that operate data centers, including those used for cryptoasset “mining.”
Supreme Court declines to take up remote worker taxation case
The US Supreme Court declined to allow New Hampshire to sue Massachusetts over a pandemic-related regulation that allows Massachusetts to continue to collect state income tax from remote workers who normally work in Massachusetts.
In Texas, the rules of the game have changed for sourcing of receipts
As amended, Administrative Rule Section 3.591,
Margin: Apportionment, significantly revises the rules for sourcing receipts to Texas, and almost all taxpayers, particularly those engaged in service industries, will be affected by the changes.
New Mexico’s gross receipts tax: Round 2 of changes
This item discusses major changes in New Mexico’s corporate income tax and gross receipts tax regime.
State proposals to tax digital ads are popping up everywhere
Certain jurisdictions introduced bills that would impose new taxes on revenues from digital advertising or expand the state sales tax base to include sales of digital advertising.
Where individual, corporate, and passthrough entity taxation meet
Passthrough owners must consider many risks and
uncertainties, in addition to political trends on Capitol Hill, before opting into a state-level regime designed to bypass the $10,000 SALT deduction cap created by the TCJA.
New Illinois and Chicago tax rules pose challenges
With new nexus rules, many retailers and other businesses are now facing an array of Illinois tax collection scenarios that may challenge their existing tax compliance systems.
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.
