This item summarizes some of the important changes impacting the New Jersey corporation business tax and when these changes took effect or will become effective.
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State & Local Tax (SALT)
The TCJA and state considerations for business
Post-TCJA, practitioners and taxpayers should be aware of potential state conformity issues in areas
including interest expense deductions, qualified business income, net operating losses, and alternative minimum taxes.
State tax law cannot discriminate against federal pensioners, Supreme Court holds
The U.S. Supreme Court held that West Virginia cannot provide a tax exemption to state law enforcement retirees while denying that exemption to federal law enforcement retirees who performed similar jobs.
Managing corporate state net operating losses
This article offers guidance on maximizing the use of corporate state NOLs, recording deferred
tax assets and valuation allowances for them, and incorporating their value in the pricing of M&A transactions.
Alabama Scholastic case: Historic sales and use tax nexus issues with an eye toward Wayfair
A recent Alabama Court of Civil Appeals decision held that the business model used by a prominent classroom bookseller did not create use tax nexus
in Alabama during a lengthy audit period at issue .
Why SALT will take center stage next to tax reform in 2019
Wayfair and the TCJA have positioned SALT issues to be a leading consideration in the overall tax landscape in the 2019 tax return preparation season.
A uniform state approach to the new federal partnership audit regime
Broad state adoption of the model statute developed by the AICPA in partnership with other
major stakeholders will provide greater uniformity
and increased compliance.
Proposed rules aimed at states’ attempts to avoid the $10,000 SALT limit
Here is what practitioners need to know about the IRS’s proposed rules that would curb the deductibility of charitable contributions that qualify for state and local tax credits.
Retailer not required to file sales tax refund claim for consumer
A recent case affirmed an appellant could not compel Costco to seek refunds of over-collected sales tax charged on items that the California
Board of Equalization classified as exempt food.
Different SALT flavors of mandatory deemed repatriation under Sec. 965
This item discusses new trends in states’ conformity with or decoupling from Sec. 965.
Potential pitfalls of state income tax incentives for passthroughs
The benefit of a state income tax credit, if it is earned in a state where the owner is not resident, is often lost.
Supreme Court abolishes physical presence requirement for sales tax collection
The Supreme Court overturned its decision that required businesses to have physical presence
in a state before the state could require them to collect and remit sales tax on purchases by customers within the jurisdiction.
Initial perspectives on Wayfair
This decision is the most significant state tax case in the past 25 years and raises new and fundamental issues.
Proposed rules would curb avoidance of SALT deduction limit
Here is what practitioners need to know about the IRS’s proposed rules that would curb the deductibility of charitable contributions that qualify for state and local tax credits.
States’ workarounds to the state and local tax deduction limitation
This discussion examines the proposed workarounds to reduce the anticipated increased tax burden on individual taxpayers caused by the state and local tax deduction limitation created by the TCJA.
States vary on treatment of sale of passthrough-entity interests
Rules addressing state taxation of gains or losses that arise from the sale of interests in a passthrough entity are complex and differ from state to state.
Income taxation of trusts in California
The California Superior Court determined that all income, including California-source income, is subject to the apportionment formula.
States sue over state and local tax deduction cap
Four states have sued in U.S. district court, asking to invalidate the $10,000 limit on the deduction for state and local taxes enacted as part of last year’s tax overhaul.
Supreme Court overturns Quill’s physical presence requirement
The U.S. Supreme Court held that states can assert nexus for sales and use tax purposes without requiring a seller’s physical presence in the state.
State and local tax implications of federal tax reform for tax-exempt organizations
Tax-exempt organizations and state taxing authorities may not yet have had time to consider how the federal changes may affect each other.
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.
