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Nevada: Second Commerce Tax Return Due Date Approaching

The due date for Nevada Commerce Tax Returns is quickly approaching.
KPMG TaxWatch Mon, 31 Jul 2017 00:00:00 GMT

Texas: Policy Changes Affect the Temporary Credit for Business Loss Carryforwards

Texas franchise tax was significantly revised over a decade ago, and Comptroller’s office recently announced that it was changing its policy.
KPMG TaxWatch Mon, 31 Jul 2017 00:00:00 GMT

Colorado: Furniture Retailer Did Not Owe Local Use Tax on Display Items

A Colorado trial court recently addressed whether a furniture retailer owed use tax to the City of Lakewood on furniture that was displayed before being sold to customer.
KPMG TaxWatch Mon, 07 Aug 2017 00:00:00 GMT

Massachusetts: Drop-Shipper Required to Collect and Remit Massachusetts Sales Tax

The Massachusetts Supreme Judicial Court recently ruled that a drop-shipper was required to collect and remit Massachusetts sales tax.
KPMG TaxWatch Mon, 07 Aug 2017 00:00:00 GMT

Minnesota: Income and Factors of Foreign Disregarded Entity Are Included in Computing Combined Group’s Taxable Income

The Minnesota Supreme Court recently affirmed that the income and factors of a foreign disregarded entity were included, along with those of its domestic owner, in the Minnesota combined return for the tax years at issue.
KPMG TaxWatch Mon, 07 Aug 2017 00:00:00 GMT

Ohio: Receipts from Forward Contracts Sitused Under Provisions Applicable to Tangible Personal Property

Recently, the Ohio Board of Tax Appeals addressed whether a taxpayer’s receipts from forward contracts were subject to Commercial Activity Tax or CAT.
KPMG TaxWatch Mon, 07 Aug 2017 00:00:00 GMT

Massachusetts: Disaster Loss Election Not Allowed for Massachusetts Tax Purposes

A Massachusetts appeals court recently upheld an Appellate Tax Board decision addressing whether Massachusetts conforms to the federal treatment of disaster losses.
KPMG TaxWatch Mon, 28 Aug 2017 00:00:00 GMT

New Jersey: New VDA Program for Click-Through Sellers

The New Jersey Division of Taxation recently announced that out-of-state businesses that have “click-through” nexus with the state will be offered a chance to participate in a special voluntary disclosure program.
KPMG TaxWatch Mon, 28 Aug 2017 00:00:00 GMT

North Carolina: Income on the Disposition of U.S. Bonds Not Deductible Interest

Recently, the North Carolina Supreme Court held that market discount income was not interest that could be deducted for North Carolina tax purposes.
KPMG TaxWatch Mon, 28 Aug 2017 00:00:00 GMT

Wisconsin: Receipts from Licensing Right to Install and Replicate Software Sourced Using the Income-producing Activity Test

The Wisconsin Tax Appeals Commission recently held that, receipts from licensing the right to install and replicate proprietary software were receipts from licensing an intangible right.
KPMG TaxWatch Mon, 28 Aug 2017 00:00:00 GMT

Alabama: City Business-License Tax Not Barred by Import-Export Clause

Recently, the Alabama Court of Civil Appeals addressed whether a trial court erred when it held that the City of Prichard’s business-license tax did not violate the Import-Export Clause of the U.S. Constitution.
KPMG TaxWatch Mon, 02 Oct 2017 00:00:00 GMT

Illinois: Internet Retailer with Bricks and Mortar Affiliate Did not Have Substantial Nexus with Illinois

An Illinois appeals court recently addressed whether an Internet retailer with bricks and mortar stores in Illinois had nexus with the state and was required to collect and remit sales tax on sales to Illinois customers.
KPMG TaxWatch Mon, 02 Oct 2017 00:00:00 GMT

Wisconsin: Budget Bill Includes Corporate Income Tax Changes

The recently-signed Wisconsin budget bill (Assembly Bill 64) includes a few changes of note for corporate taxpayers.
KPMG TaxWatch Mon, 02 Oct 2017 00:00:00 GMT

Illinois: Metallurgical Coke Used in Manufacturing Zinc Powder Not Exempt from Use Tax

The Illinois Independent Tax Tribunal recently held that Metallurgical coke used in manufacturing zinc powder is not exempt from use tax.
KPMG TaxWatch Mon, 23 Oct 2017 00:00:00 GMT

Maryland: Pet Detectives’ (and Others’) Activities Exceed Scope of P.L. 86-272 Protection

The Maryland Tax Court ruled that a seller of pet products and food was not protected from taxation under Public Law 86-272 and therefore not entitled to a refund of corporate income taxes.
KPMG TaxWatch Mon, 23 Oct 2017 00:00:00 GMT
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