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TWIST – January 8, 2018

This podcast for the week of January 8, 2018 covers state and local tax developments in Indiana, Kansas, Pennsylvania, and a multistate update.
KPMG TaxWatch Mon, 08 Jan 2018 00:00:00 GMT

Indiana: Equipment Used to Blast-freeze Food Qualified for Manufacturing Exemption

The Indiana Supreme Court recently ruled that purchases of freezer equipment and electricity qualified for certain sales and use tax exemptions for manufacturing activities.
KPMG TaxWatch Mon, 08 Jan 2018 00:00:00 GMT

Kansas: Use Tax Statute Ambiguous; Taxpayer Must Own Property to Owe Use Tax

The Kansas Supreme Court recently addressed whether a casino owed use tax on electronic gaming machines that it did not own and could not own.
KPMG TaxWatch Mon, 08 Jan 2018 00:00:00 GMT

Multistate: States Start to Address Federal Tax Reform

Recently, lawmakers in two states, California and New York, announced proposals to address one of the key provisions in the federal tax reform bill that was signed by President Trump on December 23, 2017―the elimination of the uncapped SALT deduction.
KPMG TaxWatch Mon, 08 Jan 2018 00:00:00 GMT

Pennsylvania: Department of Revenue Issues Guidance Disallowing 100 percent Bonus Depreciation

On December 22, 2017, the Pennsylvania Department of Revenue issued guidance, Corporate Tax Bulletin 2017-02, providing that it will not allow 100 percent bonus depreciation under IRC section 168(k) for assets placed in service after September 27, 2017.
KPMG TaxWatch Mon, 08 Jan 2018 00:00:00 GMT
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