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.
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Topics
Tax Computation
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.
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.
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 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.
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 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.
The Tax Cuts and Jobs Act: State tax considerations, impacts, and responses
State are weighing the many consequences of federal tax reform.
Soda taxes: Old and new
This item looks at how soda taxes have changed over the years and puts the newest batch of taxes in perspective.
Infrastructure spending and excise tax: It’s about to get a lot more complicated
This article discusses how excise tax changes may affect your business and what you can do to ensure tax compliance and avoid potential penalties.
Are You Ready for the Nevada Commerce Tax?
Nevada, once viewed as a “tax-friendly” state, implemented a $1.5 billion tax plan to fund its education system.
Maximizing the Ohio Small Business Deduction: Changes Enhance Benefit to Individual Taxpayers
While it is termed a “small business” deduction, larger business owners may avail themselves of it as well.
A 1939 Frame of Mind: Old-School NOL Carryover Rules Prevail in Some States
This item briefly explains the issue of carrying over NOLs after a merger or reorganization as applied in certain states still following the Internal Revenue Code of 1939.
Ways to Make Tax Compliance Less of a Nightmare for Small Business
Troy Lewis, chair of the AICPA’s Tax Executive Committee, testified in favor or the Mobile Workforce State Income Tax Simplification Act.
New York State Metropolitan Transportation Authority Tax Declared Unconstitutional
In a case of first impression, the New York Supreme Court ruled that New York’s metropolitan commuter transportation mobility tax “was unconstitutionally passed by the New York State Legislature.”
Current Corporate Income Tax Developments, Part I
Part I of this two-part article focuses on nexus, tax base, allocable/apportionable income, and Sec. 338(h)(10) transactions.
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.
PRACTICE MANAGEMENT
2026 tax software survey
CPAs rate their return preparation software’s performance during this year’s tax season.
