State & Local
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April 05, 2024
Mo. General Revenue Through March Up $50M From 2023
Missouri's general revenue collections from July through March were $50 million higher than in the same period last fiscal year, the state Office of Administration said in a monthly revenue report.
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April 05, 2024
Mich. General Revenue Through Feb. Up $241M
Michigan general revenue collection from October through February was $241 million higher than during the same period last year, according to a monthly report by the state budget office.
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April 05, 2024
Maine Revenue Through Feb. Tops Estimate By $15M
Maine general revenue collection from July through February was up $15 million from the budget estimate, according to a monthly report by the state Department of Administrative and Financial Services.
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April 05, 2024
Calif. Agency Boss Named Tax Group's Board President
The director of California's tax department will take the role of president of the Federation of Tax Administrators' board of trustees, the group said Friday.
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April 05, 2024
Ore. Updates Conformity To Federal Code For State Taxes
Oregon updated its conformity to the Internal Revenue Code and other provisions of federal law for state tax purposes under legislation signed into law.
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April 05, 2024
Taxation With Representation: Latham, Simpson Thacher
In this week's Taxation with Representation, Endeavor and Nuvei each go private, SLB purchases ChampionX and Liberty Media Corp. buys Dorna Sports SL.
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April 04, 2024
NY Congestion Pricing Judge Pleads For Predictability
New Jersey state and local governments fighting New York's congestion toll-pricing vision urged a federal judge on Thursday to order environmental justification for the plan, while the judge in turn implored all parties to rely more heavily on precedent and the law.
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April 04, 2024
Mo. Senate OKs Fee Exemption For Streaming, Satellite Cos.
Missouri would exempt streaming and satellite television companies from local franchise fees under a bill the state Senate approved Thursday, while localities remain embroiled in litigation alleging Netflix, DirecTV and similar companies failed to pay millions of dollars of the charges.
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April 04, 2024
Hawaii Cannabis Legalization Bill Dies In State House
An effort to legalize adult-use marijuana in Hawaii is effectively dead for this legislative session after Democrats in the state House of Representatives announced they would not deliberate any further on a proposal that had already cleared the state Senate this year.
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April 04, 2024
Massachusetts Revenues Through March Down $4M
Massachusetts' total revenue collection from July through March came in nearly unchanged from the same period last fiscal year, declining by $4 million, according to a report by the state Department of Revenue.
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April 04, 2024
Arkansas Revenues Down From Previous Year
Arkansas' general revenue from July through March came in 1.6% higher than projected, but down 5.6% from the same period last year, the Department of Finance and Administration announced.
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April 04, 2024
Iowa General Revenue Collection Through March Up $267M
Iowa collected $267 million more in tax revenue from July through March than the same period last year, according to a monthly report by the state Department of Management.
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April 04, 2024
Md. House OKs Extending Tax Exemption For Aircraft Parts
Maryland would extend a sales tax exemption for aircraft parts and equipment under a bill passed in the House of Delegates on Thursday.
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April 04, 2024
Fla. Revenue Collection Through Feb. $292M Above Estimate
Florida collected $292 million more in net revenue from July through February than the amount the state had forecast, according to a monthly revenue report by the state's Office of Economic and Demographic Research.
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April 04, 2024
Mo. Senate Advances Referendum On Digital Products Tax
Missouri voters would decide in November whether to allow the state to tax sales of subscriptions and licenses for digital products under a joint resolution approved Thursday by the state Senate.
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April 04, 2024
Va. Ups Income Tax Credits For Landlords In Housing Program
Virginia doubled the maximum amount of income tax credits that may be issued to qualifying landlords who participate in a housing choice voucher program under a bill signed by Gov. Glenn Youngkin.
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April 04, 2024
Md. Lessee Owes Tax On Gov't Property, Appeals Court Says
A lessee of government property in Maryland that was sublet to other users was correctly denied a partial property tax abatement, the state appeals court has said, even though some subtenants were government entities.
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April 04, 2024
Ala. Revenue Collection Through March Down $110M
Alabama's revenue collection from October through March was $110 million lower than during the same period in the previous fiscal year, the state Department of Revenue reported.
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April 04, 2024
Texas General Revenue Through March Lower Than Last Year
Texas' net revenue collection from September through March was lower compared with the same period in the last fiscal year, according to a report by the state comptroller's office.
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April 04, 2024
DC Mayor Pitches Sales Tax Hike, Combined Reporting
The District of Columbia would boost its sales tax rate, require combined reporting for corporations and increase payments for its paid leave program under a budget proposal by Mayor Muriel Bowser aimed at eliminating the district's projected budget shortfall.
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April 03, 2024
Trump's Late Immunity Motion Fails To Halt Hush Money Trial
A New York judge on Wednesday rejected Donald Trump's effort to delay his hush money trial based on his claimed presidential immunity from criminal prosecution, keeping the historic case on track for jury selection later this month.
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April 03, 2024
Colo. Says Trial Unnecessary In Transportation Funding Fight
Colorado told a state judge that a conservative group did not need a trial to "further develop the record" in its challenge to a transportation funding law, arguing that the group had its chances in discovery but only named a single witness, who can't testify about how the state law works.
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April 03, 2024
Calif. Can Tax Gain From Contact Lens Biz Sale, OTA Says
A large contact lens distributor that contributed operating assets to another distributor in exchange for a 55% interest and then sold that interest created a unitary relationship and its members owe $3.6 million to California in tax on the sale, the state Office of Tax Appeals ruled.
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April 03, 2024
Ohio Justices Urged To Toss Tax On Goods Parked In State
A Kansas-based soap company asked the Ohio Supreme Court to find that Ohio's attempt to tax all receipts from sales of products temporarily held in Ohio distribution centers before being shipped elsewhere violates the due process and commerce clauses of the U.S. Constitution.
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April 03, 2024
MTC Proposes Trucking-Sourcing Rule Based On Deliveries
A Multistate Tax Commission work group unveiled a draft of an alternative rule Wednesday that would source trucking receipts based on the in-state portion compared with total pickups and deliveries.
Expert Analysis
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MTC Activity And Tax Rebates All Over: SALT In Review
From the highly active Multistate Tax Commission to tax rebates seemingly everywhere, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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Emerging SALT Trends For Cryptocurrency And NFTs
Attorneys at Venable discuss trends in state and local tax with respect to cryptocurrency and non-fungible tokens, and the issues for purchasers, sellers and owners in this growing marketplace that SALT authorities must address.
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E-Cigarettes And Film Tax Credits: SALT In Review
From excise taxes on e-cigarettes across the land to a study that bolsters doubts about film tax credits, RSM US LLP's David Brunori offers his thoughts on noteworthy state and local tax news.
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Inside The OECD Transfer Pricing Documentation Guidance
Excerpt from Practical Guidance
The Organization for Economic Cooperation and Development's recently modified documentation guidelines can assist tax administrations in developing requirements for transfer pricing risk assessments and evaluations, and help multinational entity taxpayers demonstrate satisfaction of the arm's-length principle, says Neil Aragones at Lexis Tax.
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Calif. Tax Board Nonresident Asset Ruling Raises New Issues
The California Franchise Tax Board's recent ruling on whether a nonresident's disposition of a partnership interest gives rise to California-sourced income raises new issues for sourcing gain or loss using partnership apportionment factors where unrealized receivables and inventory are involved, says Eric Coffill at Eversheds Sutherland.
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Tech Co.'s Suit May Create Hurdles For Research Tax Credits
The recently filed U.S. Tax Court case Perficient v. Commissioner — challenging standards under research credit regulations that determine whether research is funded by any grant or contract — could make it difficult to substantiate research tax credits, say Dennis St. Martin and Kevin Benton at Grant Thornton.
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A Close Look At The Decentralized Effort To Tax Digital Assets
Clarity on taxation is one of the biggest hurdles to mass adoption of cryptocurrency, and although digital asset innovation has consistently outpaced worldwide government regulation, recent efforts in the U.S. and elsewhere hint at an emerging standard, says Joshua Smeltzer at Gray Reed.
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Kentucky Tax Talk: Speeding Up Public Service Co. Protests
Public service companies with Kentucky tax liability should consider the recent groundbreaking changes to the state’s protest procedures, particularly if they have protests pending that might be expedited in light of the new legislation, say attorneys at Frost Brown.
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Notes On Social Equity From A Former Cannabis Regulator
Duane Morris’ Matthew McCarthy, former lead prosecutor in regulatory enforcement actions at the Maryland Medical Cannabis Commission, shares observations on the multifaceted efforts by government and the cannabis business community to build a more equitable industry and foster diverse ownership, highlighting the role of data reporting and community outreach.
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Watching The Legal Sports Betting Ecosystem Take Shape
The number of U.S. states getting in on the recently legalized $4.29 billion sports-betting industry is on the rise, and stakeholders must be aware that the regulatory scheme looks dramatically different from state to state, say James Johnston and Louis DiLorenzo at Davis+Gilbert.
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How To Address Research Expenditures Amid Uncertainty
Taxpayers need to prepare for the significant technical and compliance challenges of following Internal Revenue Code Section 174's new rules for experimentation expenditure capitalization and amortization, notwithstanding the rules' unresolved legislative future, say tax advisers at Grant Thornton.
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Advising A Cannabis Business Amid Patchwork Of Regs
Excerpt from Practical Guidance
As the cannabis industry continues to grow, so does its widely varied patchwork of local, state and federal regulation, and practitioners should familiarize themselves with the specific rules on tax, real estate, intellectual property and banking applicable in the jurisdictions where their clients operate, say Patrick Hines and Fallon Martin at Hodgson Russ.
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Is NJ's Voluntary Transfer Pricing Initiative Really Voluntary?
The New Jersey Division of Taxation's voluntary transfer pricing audit initiative promises penalty abatement to taxpayers that elect to participate and agree to the division's proposed adjustments, but the effective penalties associated with nonparticipation raise questions about the program's voluntary nature, say attorneys at McDermott.