State & Local Tax
States’ approaches to TCJA and CARES Act conformity will be driven by budget estimates and whether they can follow the reduction to the federal taxable income base while still balancing their budgets.
The coronavirus pandemic raises several key state tax issues.
The IRS issued additional final regulations on payments made to charitable organizations in lieu of state and local tax credits.
Foresight of the potential state tax implications of an F reorganization will allow a seller to evaluate the lesser-known hazards.
The TCJA's interest expense deduction limitation
rules in amended Sec. 163(j) create significant challenges and uncertainty for taxpayers at the state level.
This discussion provides a review of the federal filing requirements for amending partnership returns and focuses on three states that have taken varying approaches to address the corresponding state effects of the BBA.
This article discusses some procedural and administrative quirks that have emerged with the new tax legislative, regulatory, and procedural guidance related to COVID-19.
New York’s and New Jersey’s different interpretations of situs could result in double taxation.
Federal tax reform has caused additional states to consider passthrough-entity-level taxes.
States have been showing a trend toward taxing
an increasing number of services.
Until now, shareholders had rarely invoked the Sec. 962 election to be taxed at corporate rates, and, as a result, most states have provided no specific guidance on how to treat a Sec. 962 election for state income tax purposes.
To promote nationwide consistency, the AICPA encourages states’ adoption of the MTC model statute that conforms to the new federal partnership audit regime.
This discussion explores a few considerations for taxpayers potentially subject to Oregon's CAT.
The IRS issued additional rules on the treatment of deductions for charitable contributions in lieu of state and local taxes, an area in which it has already issued final regulations and other guidance.
Several states have begun extending the economic nexus standard approved in Wayfair beyond sales tax, adopting economic nexus provisions for
corporate income taxes.
The IRS issued additional rules on the treatment of deductions for charitable contributions in lieu of state and local taxes, an area in which it has already issued final regulations and other guidance.
Businesses can follow this six-step analysis to make
sure they cover their bases in complying with new remote-seller sales-and-use-tax responsibilities.
This discussion summarizes both versions of the CalEITC and how the 2019 amendments affect the calculation and the credit’s desired effects.
Not-for-profits that sell goods or services may find themselves needing to register for sales tax accounts in other states to remain in compliance.
This item summarizes the complexities of a digitalized economy for MNCs and considers the
multifaceted implications to U.S. MNCs with respect to financial statements and tax reporting.
