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TWIST – April 16, 2018

This podcast for the week of April 16, 2018 covers state and local tax developments in Arizona, Connecticut, Indiana, and New Mexico.
KPMG TaxWatch Mon, 16 Apr 2018 00:00:00 GMT

Arizona: Conformity Legislation Enacted

Arizona House Bill 2647, signed into law on April 5, 2018, updates the state’s conformity to the Internal Revenue Code.
KPMG TaxWatch Mon, 16 Apr 2018 00:00:00 GMT

Connecticut: Guidance Issued on Mandatory Repatriation

TheConnecticut Department of Revenue Services has released an OGC-4 document explaining how Connecticut corporate and individual taxpayers should treat and report amounts required to be included in income under IRC section 965.
KPMG TaxWatch Mon, 16 Apr 2018 00:00:00 GMT

Indiana: Lessee Did Not Establish it Lacked Exclusive Control over Scaffolding; Owed Use Tax on Scaffolding Rentals

In a recent Letter of Findings, the Indiana Department of State Revenue addressed a taxpayer’s position that it did not owe use tax on rentals of scaffolding systems.
KPMG TaxWatch Mon, 16 Apr 2018 00:00:00 GMT

New Mexico: Failure to Allow Deduction for Foreign Dividends and Subpart F Income Did Not Violate the Foreign Commerce Clause

A New Mexico hearing officer ruled that a taxpayer filing a consolidated return in New Mexico was not allowed a dividends-received deduction for or to otherwise exclude dividends and Subpart F income received from more than 50 percent owned controlled foreign corporations.
KPMG TaxWatch Mon, 16 Apr 2018 00:00:00 GMT
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