State & Local
-
May 20, 2024
Tenn. Tax Collection Falls $494M Short Of Estimate
Tennessee's tax revenue collection from August through April underperformed a budget projection by $494 million, the state Department of Finance and Administration said in a report.
-
May 20, 2024
Utah Revenue Through April Rises $19M From Prior Year
Utah collected $19 million more in net general revenue from July through April than it did during the same period last fiscal year, the state Tax Commission reported.
-
May 20, 2024
Colo. To Impose Fee On Car Rentals To Fund Rail Projects
Colorado will impose a daily fee on vehicle rentals to raise funding for rail and transit infrastructure projects under legislation signed by Democratic Gov. Jared Polis that could be subject to litigation or a challenge at the ballot box.
-
May 20, 2024
Iowa Exempts Rentals Between Affiliates From Sales, Use Tax
Iowa exempts certain leases or rentals between affiliates from the state's 6% sales and use tax under a bill signed by the governor.
-
May 20, 2024
Feds Fight Proposed Delay In Hunter Biden's Tax Trial
Hunter Biden shouldn't be allowed to delay his criminal tax trial in California just because his lead attorney says the dates run up against Biden's upcoming trial in Delaware on firearms charges, the special counsel's office told a federal court.
-
May 20, 2024
Va. Revenue Through April Grows $1.1B From Prior Year
Virginia general revenue collection from July through April was up by $1.1 billion compared with the same period last fiscal year, according to a statement from the state Department of Accounts.
-
May 20, 2024
NJ Panel Advances Tax Credit Boost For Tech Co. Investments
A New Jersey Assembly committee advanced a bill that would increase tax credits offered under the state's angel investor tax credit program for investments in certain technology businesses.
-
May 17, 2024
Mich. $3.4M Sales Tax Bill Is Wrong, Sneaker Site Tells Court
The Michigan Treasury Department incorrectly calculated a sneaker resale site's sales tax liability from 2017 through 2019, as the site is a marketplace facilitator required to collect tax beginning in 2020, the site told the state Court of Claims.
-
May 17, 2024
Home Distillers Tell Feds Ban Fails Under Spirit Of The Law
The Hobby Distillers Association said the federal government is exceeding its constitutional powers and treading on states' rights by banning homemade liquor under its taxing authority, as the group laid out its position Friday at the request of a Texas federal judge.
-
May 17, 2024
Md. To Allow Disclosure Of Tax Info For Compliance Efforts
Maryland will allow the disclosure of tax information to outside parties to assist the state comptroller's tax compliance efforts under a bill signed by the governor.
-
May 17, 2024
Fla. Appeals Court Nixes Condo Tax Sale After Address Mix-Up
A Florida state appeals panel authored a split decision ordering a lower district court to reverse a tax deed sale after a property owner in Miami-Dade claimed the county's clerk of court failed to provide notice that his condo was being put up for sale due to a delinquent tax bill.
-
May 17, 2024
Credit Suisse Can't Reverse $21.3M Biz Loss Denial
Credit Suisse cannot carry forward $21.3 million in business losses from 2015-2017 to its 2018 Michigan tax return, a state appeals court said, letting stand a ruling that the bank miscalculated its business income from those years on its returns.
-
May 17, 2024
Ark. High Court Nixes $35M Hotel Tax Bill On Travel Cos.
An Arkansas circuit court erred in finding that online travel companies such as Hotels.com and Expedia were on the hook for $35 million in unpaid hotel taxes, the state's Supreme Court ruled, finding that a decades-old tax statute didn't apply to them.
-
May 17, 2024
Md. Allows County To Add Excise Tax On Telecom Services
Maryland will authorize the state's second-most populous county to impose an excise tax on telecommunications services in addition to the county's sales and use tax on such services under a bill signed by the governor.
-
May 17, 2024
Ohio School Board Can't Appeal Property Value To Court
An Ohio school board is prohibited from appealing a board of revision's valuation of a property that the school board didn't own to a court of common pleas, a state appeals court ruled.
-
May 17, 2024
Mo. Lawmakers OK Fee Carveout For Streaming, Satellite Cos.
Missouri would exempt streaming and satellite TV companies from local franchise fees that cable companies pay under a bill headed to the governor's desk after the state House of Representatives gave its approval Friday.
-
May 17, 2024
Missouri Bill To Ban St. Louis Teleworker Tax Fails To Pass
A push by Missouri lawmakers to prevent St. Louis from imposing its earnings tax on remote workers stalled Friday for the fourth consecutive year when the state Senate adjourned for the year without giving the proposal final approval.
-
May 17, 2024
Judge Sets Hearing For Delay In Hunter Biden's Tax Trial
A California federal judge agreed Friday to consider Hunter Biden's request to push back his $1.4 million criminal tax trial, setting a hearing to address his claim that the dates interfere with his Delaware gun trial and threaten to prevent him from getting a fair shake.
-
May 17, 2024
Md. Urges Court To Nix Google's Digital Ad Tax Challenge
Google's challenge to Maryland's digital ad tax should be summarily thrown out because the federal law cited by the company in its case is itself unconstitutional, whereas the tax is constitutionally sound, Maryland's comptroller told the state's tax court.
-
May 17, 2024
Kansas Gov. Vetoes Tax Omnibus, Calls For Special Session
Kansas Democratic Gov. Laura Kelly has vetoed three tax bills, one of which would have restructured the state's income tax brackets and made other tax changes, saying the plan was too costly for the state.
-
May 17, 2024
RI General Revenue Through April Exceeds Forecast By $6M
Rhode Island's total general revenue from July through April was $6 million higher than budget estimates, according to a report by the state's Department of Revenue.
-
May 17, 2024
Kan. Tax Collection Through April Up $316M From Last Year
Kansas' total tax revenue collected from July through April grew $316 million from the previous fiscal year, according to a monthly report by the state Department of Revenue.
-
May 17, 2024
Taxation With Representation: Wachtell Lipton, Freshfields
In this week's Taxation with Representation, Nippon Life acquires Corebridge Financial, Crescent Energy buys SilverBow Resources and Uber purchases Foodpanda.
-
May 17, 2024
Virgin Islands Silent 2 Years On $1.1M Tax Refund, Court Told
A man living on the island of St. Thomas claims he requested a tax refund of more than $1.1 million from the U.S. Virgin Islands Bureau of Internal Revenue more than two years ago and still hasn't heard back, according to a complaint in federal court.
-
May 16, 2024
Pact's Biz Group Drops W.Va. Streaming Tax Compliance Fight
The Streamlined Sales Tax Governing Board's business group on Thursday dropped its allegations that West Virginia's tax on streaming services threw it out of compliance with the interstate tax simplification compact that the board oversees.
Expert Analysis
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.