State & Local Tax
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.
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.
Proper advance planning is imperative to maximize the benefits of the TCJA provisions.
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.
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.
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.
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.
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 .
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.
Broad state adoption of the model statute developed by the AICPA in partnership with other
major stakeholders will provide greater uniformity
and increased compliance.
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.
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.
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.
This item discusses new trends in states’ conformity with or decoupling from Sec. 965.
The Supreme Court overturned its decision that required businesses to have physical presence
in a state before the state could require them to collect and remit sales tax on purchases by customers within the jurisdiction.
This decision is the most significant state tax case in the past 25 years and raises new and fundamental issues.
The benefit of a state income tax credit, if it is earned in a state where the owner is not resident, is often lost.
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.
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.
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.
