Searching Content indexed under Income Tax by Jamie Yesnowitz ordered by Published Date Descending.
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SALT Top Stories Of 2015
2015 was notable in large part because of a series of decisions issued by state and federal courts that could pave the way for future resolution of several gray areas in state and local taxation.
United States
10 Feb 2016
North Dakota Adopts Single Sales Factor Election And Changes To Multistate Tax Compact
On April 20, North Dakota Governor Jack Dalrymple signed legislation allowing taxpayers to elect to apportion their income to North Dakota based on an apportionment method which phases in the use of the single sales factor.
United States
11 May 2015
Arizona Enacts Tax Amnesty Program To Begin September 1, 2015
Arizona has enacted legislation requiring the Director of the Department of Revenue to establish a tax amnesty program, termed a "tax recovery program," to be held from September 1 to October 31, 2015.
United States
15 Apr 2015
Above-The-Line Considerations For Your Company
States and localities are continuing to experiment with different above-the-line tax systems, nonuniform methods of taxing similar items and taxes on out-of-state entities that have relationships with in-state contacts.
United States
9 Oct 2013
Illinois Appellate Court Holds Department Improperly "Corrected" Taxpayer’s Apportionment Formula As "Mathematical Error"
The Illinois Appellate Court recently addressed the Department of Revenue’s ability to assess additional tax through a correction of a "mathematical error" when the department has a substantive dispute with the taxpayer’s position on its return.
United States
11 Mar 2013
North Carolina Department Of Revenue Adopts Regulations Outlining Discretionary Authority Powers
The North Carolina Department of Revenue adopted regulations intended to clarify the Secretary's authority to adjust net income or to force combined returns for income tax purposes as mandated by 2012 legislation.
United States
22 Feb 2013
North Carolina Department Of Revenue Issues Notice Regarding
The North Carolina Department of Revenue has issued a notice discussing a change in its interpretation of the statute allowing a deduction to corporations that sustain a net economic loss in any or all of the 15 preceding tax years which may impact historic NEL calculations.
United States
29 Jan 2013
New York Releases Guidance On Lower Corporation Franchise Tax Rates For Eligible Qualified Manufacturers
The New York State Department of Taxation and Finance has issued guidance providing the requirements that a taxpayer must meet to be classified as an "eligible qualified New York manufacturer" that is allowed to use lower corporation franchise tax rates.
United States
29 Jan 2013
SALT Legislative Outlook, Trends And Predictions For 2013
Following important shifts in the political composition of state legislatures, 2013 promises to be a year in which states consider innovative, and potentially dramatic, changes to their state tax systems.
United States
23 Jan 2013
Ohio Adopts Changes To Bonus Depreciation Addback For Owners Of Pass-Through Entities
On December 11, Ohio Governor John Kasich signed legislation which makes significant changes to the bonus depreciation addback rules applicable for purposes of calculating the Ohio income tax.
United States
9 Jan 2013
San Francisco Voters Approve New Gross Receipts Tax
On November 6, San Francisco voters approved Measure E, which imposes a gross receipts tax on persons engaged in business activities in San Francisco.
United States
18 Dec 2012
Maryland Enacts Income Tax Credit For Federal Security Clearance And SCIF Construction Expenses
While the legislation may immediately result in revenue losses for the state beginning with fiscal year 2014,such legislation is designed to eventually attract more business to the state.
United States
29 Oct 2012
Indiana Department Of Revenue Requires Taxpayer To Use "Stacking" Method To Apportion Income On Consolidated Return
In a letter of findings, the Indiana Department of Revenue required a taxpayer that filed an Indiana consolidated corporate income tax return to use an alternative apportionment method to fairly reflect Indiana income.
United States
29 Oct 2012
Oregon Tax Court Rules On Apportionment Treatment Of Receipts From Electricity And Natural Gas
On September 17, the Oregon Tax Court held that the sale of electricity did not constitute the sale of tangible personal property for corporation income tax apportionment purposes for the taxpayer's tax years ending March 31, 2002 through March 31, 2004.
United States
29 Oct 2012
Minnesota Tax Court Finds Lack Of Unitary Relationship; No Apportionment Required For Section 382 Limitation On NOLs
On August 20, the Minnesota Tax Court held that an out-of-state provider of pharmacy benefit management (PBM) and mail-order pharmacy services did not have a unitary business relationship with its one-third owned Minnesota joint venture partnership that created an electronic prescription and information routing service.
United States
22 Oct 2012
District Of Columbia Promulgates Corporate Income Tax Regulations To Clarify Mandatory Combined Reporting
On September 14, the District of Columbia Office of Tax and Revenue (OTR) promulgated combined reporting regulations that are effective for tax years beginning after December 31, 2010.
United States
18 Oct 2012
North Carolina May Not Redetermine Income Or Force Combination Until Administrative Rule Is Adopted
On June 30, 2011, North Carolina enacted legislation that repealed the Secretary’s existing statutory authority to adjust a corporation’s net income or require a combined return and replaced it with new statutory authority.
United States
9 Aug 2012
Indiana Supreme Court Holds Income Of Foreign Reinsurance Companies Is Not Subject To Premiums Tax, Not Exempt From Adjusted Gross Income Tax
Historically, UPS filed one consolidated Indiana corporate income tax return on behalf of itself and its affiliates.
United States
20 Jul 2012
West Virginia Supreme Court Holds Out-Of-State Intangible Holding Company Does Not Have Income Or Franchise Tax Nexus
The West Virginia Supreme Court of Appeals has held that an out of state company licensing intellectual property to out of state licensees did not have corporation net income tax or business franchise tax nexus.
United States
27 Jun 2012
Oregon Tax Court Rules On Business Income And Sales Factor Issues Arising From Sale Of Subsidiary Stock
The Oregon Tax Court has held that gains from the taxpayer’s sales of its subsidiaries’ stock must be included in the taxpayer’s Oregon sales factor denominator and excluded from the numerator for purposes of apportionment.
United States
14 Mar 2012
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