New York State Franchise Tax Sweeping Changes in 2015
July 08, 2014.
Tax Publications
On March 31, 2014, New York Governor Andrew Cuomo signed the most extensive New York state corporation franchise tax reforms in almost four generations. The overall result was to eliminate some of the older elements of the franchise tax and implement rules that are more in line with other major states. Some...
Read MoreAlabama Establishes Independent Tax Tribunal
April 16, 2014.
Tax Publications
Alabama has just recently established an independent tax tribunal effective October 1, 2014, replacing its Administrative Law Division which was tied to the Department of Revenue. See 2014 Alabama House Bill No. 105. This is significant, as Alabama has attempted to establish this tribunal multiple times in order to improve its tax...
Read MoreSenate Finance Committee Passes Bill to Extend Bonus Depreciation
April 10, 2014.
Tax Publications
The EXPIRE Act (Expiring Provisions Improvement Reform and Efficiency) was passed in the Senate Finance Committee on April 3, 2014. Part of the act included provisions for extending bonus depreciation under Section 168(k). Bonus Depreciation For over a decade, bonus depreciation has popped in and out of the tax code as...
Read MoreVirginia Rules Post-Sale Technical Training Development Creates Nexus
March 30, 2014.
Tax Publications
The Virginia Tax Commissioner has recently ruled that an employee’s home office in Virginia, wherein test methods for post-sale training were developed, created nexus for income tax despite the training itself being conducted out of state. (Virginia Public Document Ruling 13-172, 09/19/2013). Facts The taxpayer’s only tie...
Read MoreHouse’s 7 Principles for Internet Sales Tax Bill
March 28, 2014.
Tax Publications
House Judiciary Committee Chairman, Bob Goodlatte, (R-Va.) released seven principles for devising an Internet Sales Tax Bill on September 18. This is a follow-up to the passage of the Senate legislation in May of 2013. In a press release, Goodlatte said, "The aim of the principles is to provide a...
Read MoreQualities of a Fair State Tax Administration Part 2 – Even-Handed Statute of Limitations and Interest Rates
March 28, 2014.
Tax Publications
This is the second in a series of posts about the qualities of a fair state tax administration. These measurements were used by the Council on State Taxation (COST) to analyze each state’s fairness in administering its taxes. The qualities discussed in this article are even-handed...
Read MoreQualities of a Fair State Tax Administration Part 1 – Independent Appeals
March 27, 2014.
Tax Publications
This is the first in a series of posts about the qualities of a fair state tax administration. These measurements were used by the Council on State Taxation (COST) to analyze each state’s fairness in administering its taxes. Their fifth annual report is found here. The...
Read MoreLouisiana Enacts Amnesty Program
March 26, 2014.
Tax Publications
The Louisiana Department of Revenue (LDR) has implemented a tax amnesty program applicable to all the taxes they administer except motor fuel taxes and penalties for failing to submit information reports not based on an underpayment of tax. Periods in Which Taxpayers Can File There are two remaining periods in...
Read MoreIs Your Company Subject to Sales Tax?
March 25, 2014.
Tax Publications
If your company has recently expanded or begun doing business in a different way, you may have unknowingly triggered an act that subjects you to state or local sales tax. Some of the items that could trigger sales tax nexus include: • You have opened up offices...
Read MoreDrop Shipment Challenges to Sales Tax Compliance
March 20, 2014.
Tax Publications
In sales transactions between two parties, a consumer and a seller, it is generally easy to determine whether to collect sales tax and from whom. If the seller has nexus and is registered in the consumer’s state, then the seller must collect and remit sales tax in...
Read MoreUnclaimed Property: Delaware Receives a “D-” Score
March 16, 2014.
Tax Publications
Delaware, “the first state”, may be called the “worst state” when it comes to grades for unclaimed property laws. The Council on State Taxation (COST) recently assigned a D- to the state. The full report is found here. Unclaimed property laws were originally implemented...
Read MoreCOST Publishes Best & Worst of State Tax Administration Scorecard
March 16, 2014.
Tax Publications
The Council on State Taxation (COST) recently published their fifth annual scorecard on the Best & Worst of State Tax Administration. Maine and Ohio take top honors as “A” rated states. California and Louisiana come in last with D minuses, and Pennsylvania showed the most improvement in 2013,...
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