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Searching Content indexed under Income Tax by Michael Jacobs ordered by Published Date Descending.
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1
North Carolina Legislature Enacts Omnibus Budget Over Governor's Veto
The omnibus bill includes a number of corporate income tax provisions in response to federal changes in the Tax Cuts and Jobs Act ("TCJA").
United States
11 Jul 2018
2
Pennsylvania "Fixes" 100% Bonus Depreciation Decoupling Computation
Pennsylvania enacted legislation addressing the mechanics of its statutory "decoupling" from federal 100% bonus depreciation.
United States
9 Jul 2018
3
Reissued Virginia Supreme Court Decision In Addback Case Leaves Result Unchanged; Some Taxpayers May Still Benefit
On March 22, 2017, the Virginia Supreme Court reissued its decision in Kohl's Department Stores, Inc. v. Virginia Department of Taxation, limiting the "subject to tax" exception to Virginia's intangible expense addback ...
United States
28 Mar 2018
4
REMIC Excess Inclusion Income – Is It Included In Net Income?
Corporations and financial institutions that hold REMIC residual interests may have a Massachusetts corporate excise tax refund opportunity.
United States
3 Oct 2017
5
Virginia Supreme Court Decides (Mostly) In Favor Of Department In Lead Addback Case
On August 31, 2017, the Virginia Supreme Court issued a decision holding that a taxpayer can claim an exception to Virginia's intangible expense addback on the basis that the related member receiving the intangible payment is ...
United States
1 Sep 2017
6
Pa. Governor's Budget Proposal – 'No Broad-Based Tax Increases'?
On February 7, Gov. Tom Wolf (D) presented his third budget address as Pennsylvania's governor, proposing a $32.3 billion spending plan. Facing yet again a multi-billion-dollar budget deficit...
United States
22 Feb 2017
7
There Are Two New York Real Estate Transfer Tax Proposals To Watch In Governor Cuomo's Proposed Budget
New York Governor Andrew Cuomo introduced his FY 2018 budget proposal on January 17. The proposal includes several significant revenue-raisers, including a few that could impact the New York real estate market.
United States
31 Jan 2017
8
Maryland Tax Court Overturns Comptroller's Policy Of Limiting Subtraction For Interest Received On Federal Obligations
The Tax Court ruled that the Comptroller's policy violated both Maryland statutory law and federal law.
United States
25 Aug 2016
9
MTC Annual Meeting Update: Market-Sourcing Regulations Presented To Executive Committee
The focus of today's Executive Committee meeting concerned the Uniformity Committee's work on draft market-sourcing regulations.
United States
1 Aug 2016
10
Massachusetts Court Issues 'True Debt' Decision
Yesterday, June 8, the Massachusetts Appeals Court once again denied a taxpayer's claimed deductions from the income and net worth tax base of the corporate excise tax.
United States
10 Jun 2016
11
Tom Brady's Suspension Reinstated, So What Are The Potential Massachusetts Tax Consequences?
Deflategate and the NFL's suspension of quarterback Tom Brady for 4 games has been the NFL's biggest news story of the past two years.
United States
27 Apr 2016
12
Virginia Trial Court Rules Against Taxpayer In Addback Case
The taxpayer argued that because the royalties were reported on another state's return, and included in computing the tax due in that state...
United States
11 Feb 2016
13
U.S. Supreme Court Vacates Decision In First Marblehead; Remands To Massachusetts Supreme Judicial Court
On October 13, the United States Supreme Court granted a request for review in the case of First Marblehead Corporation v. Massachusetts Commissioner of Revenue, and summarily vacated the decision issued January 28, 2015, by the Supreme Judicial Court of Massachusetts.
United States
19 Oct 2015
14
Breaking News: U.S. Supreme Court Vacates Decision In First Marblehead; Remands To Massachusetts Supreme Judicial Court
Today, the United States Supreme Court granted a request for review in the case of First Marblehead Corporation v. Massachusetts Commissioner of Revenue, and summarily vacated the decision issued January 28, 2015, by the Supreme Judicial Court of Massachusetts.
United States
14 Oct 2015
15
Pennsylvania's NOL Cap—There's Still Time To File A 2011 Refund Claim (And It's Easy!)
There is ongoing litigation over whether Pennsylvania's NOL cap is unconstitutional. Many taxpayers have already filed protective refund claims to preserve their rights in the event the cap is found unconstitutional.
United States
6 Oct 2015
16
Maryland Tax Amnesty And Other Highlights From The 2015 Maryland Legislative Session
Last week, the Maryland General Assembly wrapped up its 2015 legislative session.
United States
27 Apr 2015
17
Department Of Revenue Releases Detailed Guidance For Corporate Excise Tax Amnesty Program
In order to receive a full waiver of penalties under the amnesty program, a taxpayer must pay tax and interest in full for a particular tax type and period.
United States
24 Mar 2015
18
A Quick Overview Of Substantive Changes In Final Massachusetts Market Sourcing Regulation 830 CMR 63.38.1—From 10/30/14 Draft To Final
As we reported on Friday, the Massachusetts Department of Revenue has promulgated its final regulations governing the apportionment of income (830 CMR 63.38.1).
United States
6 Jan 2015
19
ATB Finds Genentech Is Subject To Massachusetts Tax; Offers Guidance On P.L. 86-272
This post is part of a series of posts discussing key issues in the Appellate Tax Board’s recent decision in Genentech, Inc. v. Commissioner. We previously reported on this decision in our prior post.
United States
25 Nov 2014
20
Supreme Judicial Court Hears Argument In First Marblehead Case
An active bench at the Supreme Judicial Court heard oral argument in First Marblehead Corp. & Gate Holdings, Inc. v. Commissioner, Docket No. 2013-P-0935 this morning; posing pointed questions to both parties.
United States
8 Oct 2014
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