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.
State & Local Tax
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.
The California Superior Court determined that all income, including California-source income, is subject to the apportionment formula.
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 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 are weighing the many consequences of federal tax reform.
Tax-exempt organizations and state taxing authorities may not yet have had time to consider how the federal changes may affect each other.
The IRS announced that it intends to issue regulations explaining that legislation attempting to recharacterize state and local taxes as charitable contributions will be subject to interpretation under federal tax law.
South Dakota is challenging, and attempting to have overturned, the physical presence nexus standard for the collection of sales and use taxes.
The Supreme Court heard oral arguments in a case with broad remote sales tax collection ramifications.
This item discusses Ohio commercial activity tax return preparation and ways to mitigate the unintended consequences of noncompliance.
California recently revamped its state tax agency system and the associated tax appeals process.
Three recent cases serve as a tool for taxpayers seeking guidance on when an out-of-state corporation owning a passive ownership interest in a passthrough entity doing business in New Jersey might be found to have nexus.
This column, the first of two parts, discusses issues states must consider and steps some have taken to align partnership audit rules with new federal rules.
This column discusses the definition of “benefits received” under the regulation for sourcing service receipts.
States have gotten creative and taken matters into their own hands in an attempt to collect lost tax revenue.
This column discusses compliance considerations, including nexus, taxability, and how to source the revenues from customers.
States are attempting to increase revenues by enacting laws that expand the definition of nexus-creating activities.
This item examines the most common sales-and-use-tax problems and the preventive measures companies can take to avoid these issues or handle them in an audit.
Non-U.S. taxpayers generally are surprised by the degree of complexity involved in complying with U.S. state and local taxes.