Searching Content indexed under Franchising by Grant Thornton LLP ordered by Published Date Descending.
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California FTB Issues Guidance On Effect Of Economic Nexus On Water's-Edge Combined Reporting Groups
The California Franchise Tax Board (FTB) has recently issued guidance to clarify the rules for water's-edge filers with foreign affiliates...
United States
20 Oct 2016
Texas Comptroller Issues Franchise Tax Guidance Regarding
For purposes of the Texas franchise tax, the Texas Comptroller of Public Accounts recently issued an internal memo from the Tax Policy Division to the Audit Division outlining the treatment of VFIs received by retailers...
United States
11 Oct 2016
Tennessee Issues Regulations To Clarify Application Of New Market-Based Sourcing Rules
On June 28, 2016, the Tennessee Department of Revenue approved regulations which clarify certain provisions of the 2015 Revenue Modernization Act.
United States
6 Sep 2016
Louisiana Enacts Various Tax Provisions During Second Special
In an effort to close an estimated $600 million deficit in the FY 2017 budget, Louisiana Governor John Bel Edwards called for the Louisiana legislature to hold a Second Special Session during June 2016.
United States
30 Aug 2016
Texas Comptroller Rules On Electricity Transmission And Distribution Cost Inclusion In COGS Deduction
The Texas comptroller of public accounts on March 3 issued a letter ruling addressing the inclusion of certain costs incurred by different types of utility providers in the revised Texas franchise tax cost of goods sold deduction.
United States
21 Jun 2016
Texas Supreme Court Nixes Netting Investment Losses Against Other Receipts
The taxpayer, Hallmark Marketing, LLC, filed its 2008 RTFT return with a gross receipts apportionment factor denominator that excluded an overall net loss sustained by the taxpayer on the sale of capital assets and investments.
United States
21 Jun 2016
California Supreme Court Denies Use Of Multistate Tax Compact's Equally-Weighted Three-Factor Apportionment Election
The Uniform Division of Income for Tax Purposes Act (UDITPA) was promulgated in 1957 in an effort to provide uniformity in the apportionment of corporate income among states.
United States
9 Feb 2016
Texas ALJ Affirms Combined Reporting Requirement For Commonly-Owned Brother-Sister Entities
Common ownership was determined under a plain reading of the RTFT statutes even though none of the common owners held more than a 50 percent ownership interest.
United States
8 Feb 2016
Wisconsin Tax Appeals Commission Finds Intangible Holding Company Has No Liability, But Reserves Right To Assess Operating Company
The taxpayer was formed as a wholly-owned subsidiary of a California-based operating company in 1999.
United States
2 Oct 2015
Texas Appeals Court Denies Use Of Compact's Three-Factor Formula As Revised Texas Franchise Tax Is Not Considered An Income Tax
The Texas Court of Appeals has affirmed a trial court's decision that a taxpayer cannot elect to use the equally-weighted three-factor apportionment formula provided by the Multistate Tax Compact.
United States
16 Sep 2015
New Mexico Enacts Legislation Allowing Single Sales Factor Election For Corporate Headquarters, Amending Credits And Deductions
On June 15, New Mexico Governor Susana Martinez approved a tax package that was passed during a brief special legislative session
United States
13 Jul 2015
New York Tribunal Determines Article 9-A Taxpayers Unitary And Allowed To File Franchise Tax Return On Combined Basis
On May 19, the New York State Tax Appeals Tribunal determined that certain members of a taxpayer group were permitted to file Article 9-A corporate franchise returns on a combined basis.
United States
6 Jul 2015
Shotgun Blast Of Texas (COGS) Developments
The last several months have seen an abundance of developments in the treatment of the COGS deduction for purposes of the Revised Texas Franchise Tax (RTFT).
United States
6 Jul 2015
Texas Governor Signs 25 Percent Franchise Tax Rate Cut Into Law
On June 15, Texas Governor Greg Abbott signed legislation which will permanently reduce the Revised Texas Franchise Tax (RTFT) rates by 25 percent.
United States
6 Jul 2015
Louisiana Enacts Income And Franchise Tax Changes Which May Require Taxpayer Action By June 30, 2015
On June 19, Louisiana Governor Bobby Jindal signed several bills amending significant income and franchise tax provisions that are generally effective July 1, 2015.
United States
1 Jul 2015
Texas Appellate Court Addresses Potential Application Of COGS Deduction To Service Providers And Sellers Of Intangible Property
The taxpayer, which operates a movie theater business and primarily exhibits motion pictures and other content to customers, claimed a COGS deduction on its 2008 and 2009 RTFT reports.
United States
16 Jun 2015
Texas Supreme Court Declines To Review Titan Transportation
The Texas Supreme Court has declined to review the Texas Court of Appeals' decision in Titan Transportation, LP v. Combs...
United States
15 Jun 2015
UTELCOM Analysis Endorsed In Louisiana Franchise Tax Nexus Dispute
The corporation, Polychim, which was organized in Georgia, neither conducted activity on its own in Louisiana nor was registered to do business in the state.
United States
5 Jun 2015
Texas ALJ Allows Exclusions From Texas Gross Receipts Under Federal Reimbursement Theory
A Texas administrative law judge recently allowed a transportation company to exclude its fuel surcharge reimbursements from gross receipts when computing its Revised Texas Franchise Tax liability.
United States
25 Mar 2015
New York ALJ Determines Article 32 Taxpayer Not Required To Utilize NOL In Computing Tax Under Alternative Base
At this point, it is not known whether the New York State Department of Taxation and Finance is going to appeal this decision to the New York State Tax Tribunal.
United States
27 Feb 2015
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