Marketplace sellers, especially smaller businesses with limited resources, may face unexpected liabilities and obligations.
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State & Local Tax (SALT)
New federal interest expense limitation meets old state related-party disallowance
The interplay between Sec. 163(j) and state expense disallowance leaves taxpayers in a position of having to make important decisions in a vacuum
of guidance.
IRS applies tax benefit rule to state and local tax refunds
The IRS issued guidance on the tax treatment of state and local refunds now that taxpayers are limited to a $10,000 deduction on their individual tax returns.
States’ treatment of GILTI and FDII: The good, the bad, and the ugly
Review the various approaches states use to account for the GILTI and FDII regimes introduced by the TCJA.
New York’s response to Wayfair: Storms on the horizon?
New York’s Notice N-19-1 provides some guidance to remote sellers doing business in New York, but several uncertainties remain.
West Virginia cannot exempt state law enforcement pensions and tax federal ones
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.
Can a state tax a trust based on the beneficiary’s residency?
The U.S. Supreme Court heard oral arguments in a case that will decide whether states can tax trusts based solely on the fact that a trust beneficiary lives in the state.
Tax consequences for professional athletes in 2018
Proper advance planning is imperative to maximize the benefits of the TCJA provisions.
Tax treatment of state and local tax refunds clarified
The IRS issued guidance on the tax treatment of state and local refunds now that taxpayers are limited to a $10,000 deduction on their individual tax returns.
Tax reform in the Garden State
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.
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.
PRACTICE MANAGEMENT
2026 tax software survey
CPAs rate their return preparation software’s performance during this year’s tax season.
