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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

Ohio: Despite Title Transfer Occurring in Texas, Sales of Goods Were Sitused to Ohio

The Ohio Board of Tax Appeals has addressed whether a Texas-based clothing manufacturer was subject to Commercial Activity Tax or CAT.
KPMG TaxWatch Mon, 14 May 2018 00:00:00 GMT

Washington: Penalties/Interest May Be Imposed for Unclaimed Property Non-Compliance

Due to changes in Washington’s unclaimed property law in 2015, businesses that are not compliant with the law may now be subject to new mandatory penalty and interest charges for non-compliance.
KPMG TaxWatch Mon, 14 May 2018 00:00:00 GMT

TWIST - May 21, 2018

This podcast for the week of May 21, 2018 covers state and local tax developments in Colorado, Massachusetts, Tennessee, and Washington.
KPMG TaxWatch Mon, 21 May 2018 00:00:00 GMT

TWIST - June 4, 2018

This podcast for the week of June 4, 2018 covers state and local tax developments in Missouri, New Jersey, Washington, and a state tax update from Quebec.
KPMG TaxWatch Mon, 04 Jun 2018 00:00:00 GMT

TWIST – June 11, 2018

This podcast for the week of June 11, 2018 covers state and local tax developments in Michigan and Pennsylvania, and a multistate update.
KPMG TaxWatch Mon, 11 Jun 2018 00:00:00 GMT

Michigan: Guidance Issued on Michigan Corporate Income Tax Treatment of Mandatory Repatriation and GILTI

The Michigan Department of Treasury issued preliminary guidance on the Michigan Corporate Income Tax treatment of IRC section 965 income and Global Intangible Low Taxed Income or GILTI.
KPMG TaxWatch Mon, 11 Jun 2018 00:00:00 GMT

Multistate: Recently-Enacted and Pending Sales and Use Tax Economic Nexus Bills

Several states, including Illinois, Louisiana, Hawaii, and Connecticut, are in the process of either implementing or finalizing the adoption of economic nexus standards for sales and use tax.
KPMG TaxWatch Mon, 11 Jun 2018 00:00:00 GMT

Pennsylvania: Taxpayers Are Not “Referrers” Subject to Use Tax Notice and Reporting Requirements

In a letter ruling, the Pennsylvania Department of Revenue ruled that two taxpayers did not meet the definition of a “referrer,” as specified under the recently enacted Marketplace Sales Act.
KPMG TaxWatch Mon, 11 Jun 2018 00:00:00 GMT

TWIST – June 18, 2018

This podcast for the week of June 18, 2018 covers state and local tax developments in Colorado, New York, North Carolina, Rhode Island and Texas.
KPMG TaxWatch Mon, 18 Jun 2018 00:00:00 GMT

Colorado: Guidance Issued on Reporting Section 965 Income

The Colorado Department of Revenue recently issued guidance that any amounts included in income under IRC section 965 must also be included in the amount of federal taxable income reported on the taxpayer’s CO return.
KPMG TaxWatch Mon, 18 Jun 2018 00:00:00 GMT

North Carolina: Budget Bill Includes IRC Conformity Update

Senate Bill 99, North Carolina’s budget bill, which updates NC’s definition of the Internal Revenue Code to capture the Code as of February 9, 2018, was enacted over Governor Cooper’s veto on June 12, 2018.
KPMG TaxWatch Mon, 18 Jun 2018 00:00:00 GMT

Rhode Island: Proposed Regulation Issued on Corporate Tax Treatment of Section 965 Income

The Rhode Island Division of Taxation recently proposed a regulation to provide guidance on how corporations will report deferred foreign income or section 965 income for the 2017 tax year.
KPMG TaxWatch Mon, 18 Jun 2018 00:00:00 GMT

New York: Taxpayer was Not a Qualified New York Manufacturer

A NY Administrative Law Judge (ALJ) recently addressed whether a taxpayer engaged in generating electricity at a plant in New York was a “qualified New York manufacturer”.
KPMG TaxWatch Mon, 18 Jun 2018 00:00:00 GMT

Texas: Telecom Provider Not Allowed to Deduct Electricity as COGS

Recently, a Texas appeals court addressed whether a telecommunications provider could deduct electricity used to generate and transmit its telecom products as costs of goods sold (COGS).
KPMG TaxWatch Mon, 18 Jun 2018 00:00:00 GMT
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