Searching Content indexed under Corporate Tax by Michael Jacobs ordered by Published Date Descending.
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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
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
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
Taxpayer Challenges Department Authority to Adjust NOL Carryforward, When NOL Was Generated in Tax Years Otherwise Closed by Statute
Can a Department of Revenue auditor reduce a taxpayer's deduction for a net operating loss ("NOL") carryforward, even if the NOL was generated in a tax year that is closed under the statute of limitations? This question is the subject of an appeal currently pending at the ATB.
United States
27 Sep 2017
Filing Season Reminder: Revisions (And Challenges) To Alternative Apportionment Regulation
Any taxpayers considering taking an alternative apportionment position on its corporate excise tax returns this fall should remember that the Department adopted a revised alternative apportionment regulation...
United States
5 Sep 2017
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
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
Massachusetts SJC Reaffirms Decision Sourcing 100% Of Taxpayer's Loans To Massachusetts — Confirms Opportunity For Out-Of-State Financial Institutions
On Friday, August 12, the Massachusetts Supreme Judicial Court reaffirmed its decision in First Marblehead—that a financial institution that is commercially domiciled in Massachusetts can be required to source 100% of its loans to Massachusetts for purposes of computing its property factor numerator.
United States
16 Aug 2016
Pennsylvania Enacts Tax Bill As Part Of Budget Package
Pennsylvania has enacted tax law changes projected to generate $752M in new revenue.
United States
18 Jul 2016
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
Massachusetts Net Worth "True Debt" Litigation Moves Forward—Oral Argument Held, Awaiting Decision
With oral argument and briefing complete, the Massachusetts Department of Revenue's authority to increase the net worth component of a taxpayer's corporate excise using its "true debt" analysis is under review by the Appeals Court in National Grid Holdings, Inc. et. al. v. Commissioner.
United States
4 Mar 2016
Pennsylvania Department Of Revenue Releases Discussion Draft Of Add-Back Notice
Today the Pennsylvania Department of Revenue released its first effort at providing public guidance regarding Pennsylvania's intangible expense add-back provision.
United States
2 Feb 2016
Massachusetts Denies 'True Debt' Treatment For Cash Management Obligations
Importantly, the ATB's decision to uphold the assessment for purposes of the non-income measure of the corporate excise means that the "true debt" issue continues to be relevant for companies with cash management systems...
United States
9 Sep 2015
Massachusetts Tax Developments - June 2015
In this update, we'll look at the most recent developments in Massachusetts corporate tax, provide some administrative updates, and discuss some hot topics for the second half of 2015.
United States
24 Jun 2015
First Marblehead Requests U.S. Supreme Court Review In SINAA Sourcing Appeal
The case involves the sourcing of securitized loans for property factor purposes under Massachusetts' rules for financial institutions.
United States
5 Jun 2015
Maryland Tax Court Continues Disturbing Trend In Post-Gore Cases With Recent Staples Decision
Last week, the Maryland Tax Court issued its decision in the consolidated cases of Staples, Inc. v. Comptroller of the Treasury1 and Staples the Office Superstore, Inc. v. Comptroller of the Treasury.
United States
3 Jun 2015
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
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
Massachusetts Tax Developments - 6 March 2015
In this update, we'll look at the most recent developments in Massachusetts corporate tax, sales and use tax, and tax administration; and discuss some hot topics for 2015.
United States
10 Mar 2015
ConAgra Brands; Taxpayer Loss In First Post-Gore Decision Signals More Challenges For Intercompany Transactions In Maryland
The Maryland Tax Court recently issued its decision in ConAgra Brands Inc. v. Comptroller of the Treasury, 09-IN-OO-0150 (Md. Tax Ct., Feb. 24, 2015).
United States
3 Mar 2015
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