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Rhode Island: Guidance Upcoming on Corporate Treatment of Section 965 Income

The Rhode Island Division of Taxation recently issued an advisory to addresses reporting deferred foreign income for Rhode Island tax purposes.
KPMG TaxWatch Mon, 23 Apr 2018 00:00:00 GMT

Texas: Upcoming Amnesty Program Starting Soon

The Texas Comptroller’s upcoming tax amnesty program will run from May 1, 2018 through June 29, 2018.
KPMG TaxWatch Mon, 23 Apr 2018 00:00:00 GMT

Oregon: Conformity Legislation Enacted; Department Issues Guidance on Mandatory Repatriation

On April 10, 2018, Senate Bill 1529, which updates Oregon’s conformity to the Internal Revenue Code, was signed into law.
KPMG TaxWatch Mon, 23 Apr 2018 00:00:00 GMT

TWIST – April 30, 2018

This podcast for the week of April 30, 2018 covers state and local tax developments in California, Maryland, New York, and Pennsylvania.
KPMG TaxWatch Mon, 30 Apr 2018 00:00:00 GMT

California: FTB Issues Draft Language for Revised Market Sourcing Regulation

Language released for consideration at the FTB’s upcoming third Interested Parties Meeting on Draft Regulation Section 25136-2.
KPMG TaxWatch Mon, 30 Apr 2018 00:00:00 GMT

New York: Equipment used at Data Center was Not Exempt Telecommunications Equipment

NY Division of Tax Appeals ruled that hardware and software purchased for managing customer accounts and performing billing functions did not qualify for NY’s telecommunications equipment sales and use tax exemption.
KPMG TaxWatch Mon, 30 Apr 2018 00:00:00 GMT

TWIST – May 7, 2018

This podcast for the week of May 7, 2018 covers state and local tax developments in Alabama, Florida, New York, South Carolina, and Texas.
KPMG TaxWatch Mon, 07 May 2018 00:00:00 GMT

Maryland: Bills Phasing in Single Sales Factor Apportionment Signed Into Law

On April 24, 2018, House Bill 1794 and Senate Bill 1090 were signed into law, phasing-in single-sales factor apportionment for most MD corporate taxpayers.
KPMG TaxWatch Mon, 30 Apr 2018 00:00:00 GMT

Pennsylvania: Department Issues Information Notice on Section 965 income

PA Dept. of Revenue issued notice providing guidance on the Commonwealth’s corporate and individual income tax treatment of amounts required to be included in income under IRC section 965.
KPMG TaxWatch Mon, 30 Apr 2018 00:00:00 GMT

Alabama: Guidance Issued on Reporting Section 965 Income

The Alabama Department of Revenue recently issued guidance on the state’s treatment of amounts required to be included in income under IRC section 965.
KPMG TaxWatch Mon, 07 May 2018 00:00:00 GMT

Florida: Guidance Issued on Treatment of IRC Section 965 Income

The Florida Department of Revenue has issued guidance on the state’s corporate income tax treatment of repatriation income under IRC section 965.
KPMG TaxWatch Mon, 07 May 2018 00:00:00 GMT

New York: Limited Opportunity to Withdraw from Commonly-Owned Group Election

The New York Department of Taxation and Finance and the City Department of Finance have issued guidance providing a procedure for withdrawing the commonly-owned group election made on a 2015 or 2016 General Business Corporation Combined Franchise Tax Return.
KPMG TaxWatch Mon, 07 May 2018 00:00:00 GMT

Texas: Federal Disregarded LLCs Subject to Franchise Tax

In a recent private letter ruling, the Texas Comptroller of Public Accounts ruled that single-member LLCs wholly owned by a tax-exempt IRC section 401(a) pension trust must file franchise tax reports.
KPMG TaxWatch Mon, 07 May 2018 00:00:00 GMT

South Carolina: True Object of a Transaction was not the Provision of Bartending Services

A South Carolina Administrative Law Judge recently ruled that a taxpayer who offered bartending services at customer events was selling tangible personal property at retail and therefore should have collected and remitted sales tax.
KPMG TaxWatch Mon, 07 May 2018 00:00:00 GMT

Hawaii: Economic Nexus Bill Sent to Governor

Senate Bill 2514 has been sent to Governor Ige for signature that adopts economic nexus standards for Hawaii General Excise Tax purposes.
KPMG TaxWatch Mon, 14 May 2018 00:00:00 GMT
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