State & Local
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April 08, 2024
Vermont Senate Receives New Top Income Tax Rate Bill
Vermont would create a top income tax rate of 11.75% under a bill passed by the state House of Representatives and sent to the state Senate.
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April 08, 2024
Minn. Retroactively Delays Cut To NOL Deduction
Minnesota is retroactively delaying a cut to its maximum income tax deduction for net operating losses under legislation signed into law Monday, correcting an error in a tax package enacted last year.
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April 08, 2024
RI Bill Would Expand Tax Break For Renewable Energy Items
Rhode Island would expand a sales tax exemption for renewable energy products under a bill introduced in the state Senate.
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April 08, 2024
Va. Will Allow Installment Agreements For 'Omitted' Taxes
Virginia will allow local officials to create installment agreements for those assessed taxes that should have been assessed in previous years, under a bill signed by Gov. Glenn Youngkin.
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April 08, 2024
Trump Can't Move Hush Money Trial, NY Appeals Judge Says
A New York appellate judge on Monday denied Donald Trump's request to halt his upcoming hush money trial due to what the former president cast as a hopelessly biased jury pool in Manhattan, as he awaited a hearing on his separate bid to lift a gag order.
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April 08, 2024
Tenn. Extends Counties' Ability To Hire Collection Agents
Tennessee removed the sunset date on a law that allows county trustees to hire collection agents to collect delinquent tangible personal property taxes under a bill signed by the governor.
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April 08, 2024
Md. Lawmakers OK Tobacco Tax, Vehicle Fee Boosts
Maryland smokers and motorists would pay about $453 million in additional taxes and fees in the next fiscal year under a $63 billion budget approved by lawmakers and heading to the governor.
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April 05, 2024
Parents Seek Justices' Review Of Private School Funding Law
Five Michigan families want the U.S. Supreme Court to hear their challenge to a Michigan constitutional provision that they say prevents them from using tax-advantaged education savings accounts to pay for religious school tuition, alleging the law amounts to religious discrimination.
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April 05, 2024
Arizona Loses Bid To Bar Federal Tax On One-Time Rebates
A federal court declined Friday to bar federal taxation of Arizona's one-time state tax rebates issued last year, rejecting the state's move for a preliminary injunction against the Internal Revenue Service.
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April 05, 2024
Iowa Senate Panel OKs Tax Withholding On Sports Betting
Iowa would levy the state's income tax on winnings from sports betting as part of a bill advanced by the Senate Ways and Means Committee.
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April 05, 2024
NH Revenues Through March Outpace Forecast By $104M
New Hampshire's general fund receipts were higher than budget estimates by $104 million from July through March, according to a monthly report by the state Department of Administrative Services.
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April 05, 2024
Colo. Expands Quarterly Sales Tax Filing To More Taxpayers
Colorado will allow the state Department of Revenue to authorize quarterly sales and use tax filings for more taxpayers under a bill signed by the governor.
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April 05, 2024
Disney, Eatery Co.'s Escheat Win 'Illogical,' Mich. Justices Told
Michigan's treasurer asked the state Supreme Court on Friday to find that audits of Disney and a restaurant company paused the statute of limitations to require them to turn uncashed checks over to the state, calling lower court rulings in the companies' favor "illogical."
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April 05, 2024
Mont. Revenue Through March Down From Prior Year
Montana general fund revenue from July through March was down $193 million compared with the same period last fiscal year, the state Department of Revenue said in a report.
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April 05, 2024
NC High Court Snapshot: Law Firm Battles Defamation Suit
The Supreme Court of North Carolina has a stacked calendar heading into spring arguments, from an appeal over Black-owned properties targeted for demolition to a law firm's attempt at dodging defamation claims over allegations of voter fraud.
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April 05, 2024
Ohio Tax Agency Finalizes Updated Regs For Data Processing
The Ohio Department of Taxation updated the definition of "automatic data processing" in state sales and use tax regulations, according to a final administrative rule dated Friday that incorporates guidance from a recent state Supreme Court ruling.
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April 05, 2024
Ore. Will Exempt Farm Machinery From Property Tax
Oregon will exempt farm machinery from property tax under a bill signed by the governor.
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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.
Expert Analysis
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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.
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Holding These Truths Incontrovertible: SALT In Review
RSM's David Brunori offers his thoughts on noteworthy state and local tax news, beginning with "almost irrefutable" observations delivered at a recent tax seminar.
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LA's High-Value Real Estate Transfer Tax Should Be Scrapped
Los Angeles’ recently implemented high-value property transfer tax has chilled the real estate market, is failing to meet revenue expectations and raises significant constitutional concerns, making it a flawed piece of legislation that should be invalidated, says attorney Paul Weinberg.
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Avoiding Negative Tax Consequences In Loan Modifications
Borrowers who may be caught in the dramatic uptick in nonperforming commercial real estate loans should consider strategies to avoid income and capital gains tax that may be triggered by loan modifications, says Aman Badyal at Glaser Weil.
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Chapter 100 Incentives Can Offer Relief For Mo. Solar Projects
Although the Missouri Supreme Court's decision last year in Johnson v. Springfield Solar 1 overturned the state's tax exemption for solar energy systems, solar developers may still be able to use other mechanisms, like Chapter 100 incentives, to offset project costs, say Lizzy McEntire and Anna Kimbrell at Husch Blackwell.
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Now Is The Time For State And Local Sales Tax Simplification
In the five years since the U.S. Supreme Court’s landmark decision in South Dakota v. Wayfair, state and local governments increasingly rely on sales tax, but simple changes are needed to make compliance more manageable for taxpayers, wherever located, without unduly burdening interstate commerce, says Charles Maniace at Sovos.
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Connecticut Tax Cuts And Missouri Movies: SALT In Review
From income tax cuts in Connecticut to film tax credits in Missouri, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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What To Make Of IRS' New Advance Pricing Guidance
Recent guidance on the IRS' goals for its advance pricing agreement system provides helpful insight into review and decision-making procedures for advance pricing agreement requests, but it also raises questions about the IRS' objectives, say Richard Slowinski and Stefanie Kavanagh at Alston & Bird.
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For NY Wind And Solar Projects, Some Tax Assessment Clarity
Recent legislation, which moots a challenge to New York’s discounted cash flow method for assessing solar and wind project real property taxes, lifts a cloud of uncertainty and brings new considerations for developers, investors and lenders, say attorneys at Hodgson Russ.
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The Reciprocal Tax Bill Is A Warning Shot At Pillar 2
A bill recently introduced in the House of Representatives to reciprocally tax countries deemed to have imposed discriminatory taxes on U.S. citizens and businesses takes aim at countries implementing the global minimum tax treaty known as Pillar Two, with which the U.S. has not complied, says Alan Cole at the Tax Foundation.
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Cost To Gov't Means Justices Must Review NC Sales Tax Case
The U.S. Supreme Court should review and overrule the North Carolina high court’s decision in Quad Graphics v. North Carolina Department of Revenue — an anticipatory overruling of precedent that expands the state sales tax base and imposes a stealth tax on the federal government, says Richard Pomp at the University of Connecticut Law School.
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Potential Risks And Benefits Of NY Cannabis Crop Rescue Act
Though proposed legislation in New York would help struggling cannabis farmers by allowing them to sell their crops directly to consumers, it poses numerous challenges for retailers and the state’s regulatory framework — and striking the right balance here will be crucial to shaping a sustainable, equitable industry, say Meaghan Feenan and William Wolfe at Harris Beach.
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La. Franchise Tax, Minn. Home Seizure: SALT In Review
From a proposal to phase out Louisiana's corporate franchise tax to the U.S. Supreme Court's ruling that a Minnesota county had no right to sell a woman's home for more than she owed, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.