State & Local
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May 02, 2024
Former Mich. Speaker, Wife Arraigned On Embezzling Charges
A former speaker of the Michigan House of Representatives and his wife pled not guilty on Thursday to multiple financial crimes and received the judge's blessing to travel out of state to attend the Kentucky Derby, in their first court appearance since the charges were announced.
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May 01, 2024
T-Mobile Gets Tax Reimbursement Suit Tossed For Good
T-Mobile has convinced a New Jersey federal court to toss for good a suit brought by a middleman seeking to collect tax reimbursements the mobile behemoth had supposedly promised a landlord after it didn't fix the deficiencies in its suit the third go round.
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May 01, 2024
Senate Dems Reintroduce Bill To Tax And Regulate Cannabis
Senate Democrats on Wednesday reintroduced a cannabis legalization bill that would remove the drug entirely from the ambit of the Controlled Substances Act and impose a tax-and-regulate scheme akin to what is currently in place for alcohol and tobacco.
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May 01, 2024
Colo. House OKs Tax Credits For Middle-Income Housing
The Colorado House approved a pilot program Wednesday to provide a tax credit to developers of housing aimed at middle-income residents
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May 01, 2024
Mont. Tax Dept. Floats Updated Regs For Water's-Edge Filers
Montana would carry out recently enacted legislation that eliminated a requirement for a so-called water's-edge return to include income and apportionment factors from corporate affiliates incorporated in a now-defunct list of tax havens under regulatory updates proposed by the state Department of Revenue.
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May 01, 2024
RI Corp. Not Entitled To Untimely Refund, Division Rules
A corporation doing business in Rhode Island is not entitled to a refund of sales tax overpayment despite signing a statute of limitations waiver during an audit, the state Division of Taxation ruled.
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May 01, 2024
Collecting, Not Paying May Mean Penalties In MTC Program
The Multistate Tax Commission will make clear that a taxpayer that has collected but not remitted certain taxes during a grace period for liability will likely forfeit at least part of the grace period, an official said Wednesday.
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May 01, 2024
Miss. Narrows Tax Break For Entities That Support Colleges
Tax exemptions for Mississippi nonprofit foundations that support colleges will only be provided to properties that are exclusively used to benefit the schools under a bill signed by the governor.
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May 01, 2024
Ala. Extends Deadline For 2023 Pass-Through Entity Election
The Alabama Department of Revenue announced Wednesday that it has extended the due date for pass-through entities to file the election to be taxed as such in 2023.
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May 01, 2024
Colo. House OKs Boost To Affordable Housing Tax Credit
Colorado would increase the funds available for the state's affordable housing tax credits for six years under legislation approved Wednesday by the state House of Representatives.
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May 01, 2024
Miss. To Provide Tax Break For Aircraft Used In Commerce
Mississippi will provide a sales tax exemption for the sale, lease or transfer of aircraft to certified common carriers for the transport of people or property in interstate, intrastate and foreign commerce under a bill signed by the governor.
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May 01, 2024
Kan. Legislature OKs New Version Of Tax Omnibus
Kansas would restructure its income tax brackets and make other changes under another attempt at a compromise tax omnibus bill passed by the state Legislature, but the governor will likely veto it.
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May 01, 2024
Colo. Senate OKs Sports Betting Tax Revenue Ballot Measure
Colorado voters would be asked whether to allow the state to retain and spend certain sports betting tax revenue rather than refunding it to casinos under legislation approved by the state Senate on Wednesday.
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May 01, 2024
Colo. Senate Bill Seeks Income Tax Cut, Refund Changes
Colorado would lower its flat income tax rate for the current tax year and reduce the rate in upcoming years based on surplus revenues under legislation introduced in the state Senate.
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May 01, 2024
Colo. House OKs $650M Child Income Tax Credit
Colorado would create income tax credits for people with children that could total more than $650 million annually under legislation passed Wednesday by the state House of Representatives.
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May 01, 2024
NY Senate Bill Aims To Allow Tax Break For Commuting Costs
Workers for New York businesses could use pretax dollars from their compensation to pay for commuting expenses, including the costs for renting bicycles and carpooling, under a bill introduced Wednesday in the state Senate.
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May 01, 2024
Colo. House OKs Quantum Tech Investment Tax Credits
Colorado would create a pair of tax credits to promote investment in quantum technology development facilities, available only to entities receiving certain federal grants, under legislation passed by the state House of Representatives.
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May 01, 2024
Tax Credit Transfer Regs Show IRS Caution In Rulemaking
The IRS and Treasury's final rules on the sale and transfer of green energy credits maintained a strict reading of the statute while making few changes, a sign of caution by regulators amid judicial scrutiny of the government's rulemaking authority.
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April 30, 2024
TracFone Must Pay Wash. City's Utility Tax
Prepaid phone businesses are utilities and can be taxed as such under Washington state law, according to a state appeals court that had been posed such a question as part of a dispute between TracFone and a Seattle suburb.
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April 30, 2024
Taxing Business Inputs Still Vexes MTC Digital Work Group
A Multistate Tax Commission work group aiming to harmonize state tax rules for digital products continues to struggle with how to advise states on taxing business-to-business transactions associated with such projects, state officials said Tuesday.
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April 30, 2024
Colo. Beats Challenge To Fees In Transportation Funding Law
A conservative group has not shown that fees passed in a 2021 transportation funding package in Colorado exceeded the legislature's taxing authority, a state judge said, throwing out the group's challenge to the fees.
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April 30, 2024
Okla. Expands Allowed Disclosure Of Confidential Tax Info
Oklahoma expanded when the state Tax Commission may share confidential tax records and be immune from liability for the disclosure of such information under a bill signed by the governor.
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April 30, 2024
Okla. Will Allow Making Pass-Through Election With Filing
A partnership or S corporation in Oklahoma will be able to make the election to be taxed as a pass-through entity by filing a timely income tax return under a bill signed by the governor.
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April 30, 2024
Maine Gov. Vetoes Plan For New Top Income Tax Bracket
Maine's governor vetoed legislation that would have created a new tax bracket for high-income earners and expanded the tax bracket for the state's lowest income tax rate.
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April 30, 2024
Okla. Removes Limit On Industrial Development Tax Credit
Oklahoma will expand a tax credit for qualified economic development expenditures in industrial parks, removing a limit on the credit, under a bill signed by the governor.
Expert Analysis
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3 Principles Should Guide MTC's Digital Products Tax Work
As the Multistate Tax Commission's project to harmonize sales tax on digital products moves forward, three key principles will help the commission's work group arrive at unambiguous definitions and help states avoid unintended costs, say Charles Kearns and Jeffrey Friedman at Eversheds Sutherland.
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OECD Treatment Of Purchased Ga. Film Credits Isn't Peachy
Producers considering Georgia as a prospective location for filming may already be concerned that the Organization for Economic Cooperation and Development's July decision will hamper the eventual 2026 or later sale of their Georgia film tax credits, says Alan Lederman at Gunster.
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A Milestone For Offshore Wind In Maine
Recently signed legislation directing Maine to procure up to 3 gigawatts of offshore wind by 2040 offers indisputable promise that the state will soon welcome commercial-scale offshore wind development off its shores, says Joshua Rosen at Foley Hoag.
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Mallory Ruling Doesn't Undermine NC Sales Tax Holding
Contrary to the conclusion reached in a recent Law360 guest article, the U.S. Supreme Court’s recent Mallory ruling shouldn't be read as implicitly repudiating the North Carolina Supreme Court’s sales tax ruling in Quad Graphics v. North Carolina Department of Revenue — the U.S. Supreme Court could have rejected Quad by directly overturning it, says Jonathan Entin at Case Western Reserve.
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Calif. Policymakers Should Aid Crashing Cannabis Market
As California’s cannabis sector nears the brink of financial collapse, it may be time for the state government to seriously consider potential bailout programs for the embattled industry — though the crisis also presents strategic buying opportunities for those with a high tolerance for uncertainty, says Michelle Mabugat at Greenberg Glusker.
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What Came Of Texas Legislature's Long-Promised Tax Relief
Following promises of historic tax relief made possible by a record budget surplus, the Texas legislative session as a whole was one in which taxpayers that are large businesses could have done somewhat better, but the new legislation is clearly still a positive, say attorneys at Baker Botts.
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Looking Behind The Curtain Of Residential Transition Loans
As residential transition loans and securitizations of such loans grow increasingly popular, real estate stakeholders should take care to understand both the unique features and potential challenges offered by this novel asset class, say attorneys at Mayer Brown.
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Where Tax Policies Go Wrong: SALT In Review
RSM's David Brunori reviews the worst tax policies employed by state and local governments, then critiques recent tax developments in Oregon, New York and Boston.
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Mallory Opinion Implicitly Overturned NC Sales Tax Ruling
The U.S. Supreme Court recently declined to review Quad Graphics v. North Carolina Department of Revenue, but importantly kicked the legs from under Quad's outcome a week later, stating in its Mallory decision that the high court has the prerogative to overrule its own decisions, says Richard Pomp at the University of Connecticut.
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Delicious In Conn., Less Tasty In La.: SALT In Review
From Connecticut reducing its beer tax to Louisiana retaining its franchise tax, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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Review Of Repatriation Tax Sets Justices On Slippery Slope
The U.S. Supreme Court’s recent decision to review the constitutionality of the repatriation tax in Moore v. U.S. has implications for many tax rules involving unrealized amounts and could leave the court on the brink of invalidating large swaths of the Internal Revenue Code, say attorneys at Eversheds Sutherland.
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How To Avoid A Zombie Office Building Apocalypse
With national office vacancy rates approaching 20%, policymakers, investors and developers will need to come together in order to prevent this troubling trend from sucking the life out of business districts or contaminating the broader real estate market, say Ryan Sommers and Robyn Minter Smyers at Thompson Hine.
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Ohio Tax Talk: Building On Federal Affordable Housing Credit
Ohio's soon-to-be-implemented low-income housing tax credit could significantly affect the state's affordable housing landscape and influence tax-credit deal financing for these projects, though Senate changes may have dampened the new credit's immense potential, say Raghav Agnihotri and Rachael Chamberlain at Frost Brown.