New York State Franchise Tax Bright-Line Nexus Changes
July 25, 2014.
Tax Publications
Think you’re exempt from New York franchise tax because you don’t have a physical presence in New York? Starting in 2015, think again! Part of the sweeping corporate franchise tax changes New York Governor Andrew Cuomo signed recently impacted New York state and MTA district...
Read MoreQualities of a Fair State Tax Administration Part 5 – Transparency via Published Letter Rulings and Decisions
July 20, 2014.
Tax Publications
This is the fifth and final posting in a series 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 published report is found here. ...
Read MoreQualities of a Fair State Tax Administration Part 4 – Adjustments to Federal Corporate Tax Liability: Amending State Returns
July 19, 2014.
Tax Publications
This is the fourth 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. Whenever a federal income tax return is changed,...
Read MoreHouse Votes to Reinstate Research and Experimentation Tax Credit
July 18, 2014.
Tax Publications
On May 9, 2014, the U.S. House of Representatives voted to reinstate the Research & Experimentation Tax Credit under Section 41 of the Internal Revenue Code. This had previously expired on December 31, 2013. It must still pass the Senate where the Senate Finance Committee backs a measure extending the credit through the...
Read MoreQualities of a Fair State Tax Administration Part 3 – Corporate Income Tax Return Due Dates and Protest Periods
July 17, 2014.
Tax Publications
This is the third 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 two qualities discussed in this article deal...
Read MoreGeorgia Broadens Manufacturing Exemption
July 15, 2014.
Tax Publications
On July 1, 2014, Georgia will put into effect a broader scope of items included in the manufacturing exemption for sales and use tax. House Bill 900 was signed into effect by Governor Deal on April 24, 2014, a copy of which can be found here. What It Entails Consumable supplies are defined in...
Read MoreNew 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 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...
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