State & Local Tax

Maryland Personal Income Tax Regime Violates Constitution

In a 5–4 decision, the Supreme Court held that Maryland's personal income tax regime violates the dormant Commerce Clause because it results in double taxation of some income earned in interstate commerce, amounting to an impermissible state tariff, and thus discriminates against interstate commerce.

State Tax Consequences to Shareholders on Distributions of Property

When a company distributes property to its shareholders, tax consequences arise for the distributing corporation and the receiving shareholder. This item addresses the state tax consequences to the shareholder, which can differ between states with separate-return filing rules and states that follow the federal consolidated-return filing rules.

Sales and Use Taxes in a Digital Economy

This column highlights the complexities of taxing digital products through the example of streaming content, discusses the increasing use of digital currencies and how states have begun to react, addresses the challenges of determining what is a true service and what is a license of technology, and looks to the horizon and upcoming trends.

Supreme Court Holds Challenge to Colorado Reporting Requirements Can Go Forward

Reversing the Tenth Circuit, the Supreme Court held that the Tax Injunction Act did not bar a suit that sought to enjoin the state of Colorado from enforcing a law requiring out-of-state sellers to notify Colorado customers of their use tax liability for purchases and report tax-related information about the purchases to the customers and the Colorado Department of Revenue.

New York’s Tax Reform and Its Impact on Small Business

The New York executive budget legislation for fiscal year 2014–2015 was signed by Gov. Andrew Cuomo on March 31, 2014. What impact does New York's tax reform have on smaller, nonbanking businesses? And what is the impact on smaller businesses primarily located outside New York state?

Unclaimed Property: Current Issues and Trends

To reduce the odds of an unwelcome surprise in the form of a hefty abandoned or unclaimed property assessment, companies need to stay on top of the latest AUP issues, including court challenges and legislative developments.

Newsletter Articles

PRACTICE MANAGEMENT

Tax software survey

Our annual survey offers a look at how CPAs judged their tax preparation software in a wide range of types of practices.

NEWS

Congress enacts tax reform

Here are many of the most important provisions in the new law that affect both individual taxpayers and businesses. All changes were effective Jan. 1, 2018, except as noted.