State & Local
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May 14, 2024
Minn. Total Revenue In April $16M Ahead Of Forecasts
Minnesota's total revenue in April beat budget estimates by $16 million, according to a report by the state Department of Management and Budget.
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May 14, 2024
Ga. General Fund Receipts Through April Down $341M
Georgia's general fund receipts from July through April dropped $341 million from the same period last year, according to the state's Department of Revenue.
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May 14, 2024
Ex-Whiteford Taylor Business Co-Chair Joins Baker Donelson
Baker Donelson Bearman Caldwell & Berkowitz PC has welcomed a new shareholder who spent more than a decade with the Internal Revenue Service and previously co-chaired Whiteford Taylor & Preston LLP's business department, the firm announced on Monday.
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May 13, 2024
Corp. Transparency Act An Overbroad Dragnet, 11th Circ. Told
Congress exceeded its authority in passing the Corporate Transparency Act, which prompted the U.S. Treasury Department to solicit personal information for law enforcement purposes from those that registered and owned state-registered entities, a small-business group told the Eleventh Circuit on Monday.
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May 13, 2024
Alaska House Passes Bill To Levy 7% Marijuana Retail Tax
Alaska would update its marijuana tax regime by levying a 7% tax on sales and phasing out the current $50 per ounce excise tax as part of a bill passed by the state House of Representatives.
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May 13, 2024
NY Appeals Court Upholds Fuel Distributor's Tax Bill
A fuel distributor isn't entitled to a refund of New York taxes paid on 13.8 million gallons of fuel delivered to Citgo because the distributor failed to prove the taxes were paid twice, a state appeals court ruled.
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May 13, 2024
Colo. Lawmakers OK Agricultural Stewardship Tax Credits
Colorado farms and ranches using certain agricultural stewardship practices would be eligible for tax credits of up to $300,000 under a bill approved by state lawmakers and headed to Democratic Gov. Jared Polis.
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May 13, 2024
Okla. To Allow 1% Local Sales Tax For Medical Service Funds
Oklahoma counties will be able to levy a sales tax of up to 1% to fund emergency medical services with voter approval under a bill signed by the governor.
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May 13, 2024
Mass. Tax Board Rejects Plea To Cut Home Valuation
A Massachusetts homeowner's argument that his property was overvalued because its assessment increased by a higher percentage than those of neighboring properties was rejected by the state's tax appeals board in a decision released Monday.
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May 13, 2024
Ohio Revenue Through April $1.1B Under Projection
Ohio general revenue collection from July through April trailed budget estimates by $1.1 billion, according to a monthly report by the state Office of Budget and Management.
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May 13, 2024
Calif. Total Receipts Through April Drop $4.8B From Estimates
California's total receipts from July through April sank $4.8 billion from the governor's 2024-2025 budget, according to a monthly report by the state controller.
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May 13, 2024
Ind. General Revenues Beat Budget Estimates By $23M
Indiana's total general fund revenues in July through April were roughly $23 million higher than budget forecasts, according to a report by the State Budget Agency.
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May 13, 2024
NY Bill Seeks Property Tax Break For Upgrades To Cut Carbon
New York would create a property tax exemption for capital improvements made to residential property for the purpose of reducing carbon emissions under a bill introduced in the state Assembly.
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May 13, 2024
Tennessee Giving $1.6B In Corporate Franchise Tax Refunds
Tennessee will issue nearly $1.6 billion in corporate franchise tax refunds and cut the tax by about $400 million annually going forward under legislation signed into law by the governor.
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May 13, 2024
Ky. General Revenue Collection Up $461M From Last Year
Kentucky general revenue collection from July through April grew $461 million from the last fiscal year, according to a monthly report from the Office of State Budget Director.
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May 13, 2024
NJ Panel Seeks Oral Healthcare Product Tax Break In Compact
A New Jersey Assembly committee advanced a resolution Monday pushing for an amendment to the Streamlined Sales and Use Tax Agreement that would allow states to exempt oral healthcare products from sales tax.
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May 10, 2024
Ill. Remote Seller Rules Violate Wayfair, Calif. Seller Claims
A California-based business argued that Illinois' remote seller system presents unconstitutional burdens, telling the state tax tribunal that Illinois' varying sourcing rules and the quick pace by which it adopted economic nexus violate the U.S. Constitution's commerce clause.
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May 10, 2024
Nev. Tax Commission Floats Updated Regs For Remote Sellers
Nevada would clarify sales tax collection requirements imposed on remote sellers, marketplace sellers and marketplace facilitators under regulatory changes proposed by the state Tax Commission.
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May 10, 2024
Newsom Says No Tax Increases Planned In Calif. Budget
California would not increase taxes or impose new taxes under a revised budget plan presented Friday by Democratic Gov. Gavin Newsom.
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May 10, 2024
Ore. Court Drops Tax Value Of Rural Property
The Oregon Tax Court lowered the real market valuation of a rural property with outbuildings used for storage of a car collection, relying partially on the owner's cost approach to the value.
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May 10, 2024
Miss. To Lower Sales Tax Rate For Oil Cos.' Purchases
Mississippi will reduce the sales tax rate for equipment and services used to drill, survey or explore for oil, natural gas and other minerals to 4.5% as part of a bill signed by the governor.
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May 10, 2024
Colo. Lawmakers OK Quantum Tech Investment Tax Credits
Colorado would create a pair of tax credits to promote investment in quantum technology development facilities by entities receiving certain federal grants under legislation passed by the state Senate and heading to the governor.
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May 10, 2024
NY Senate Bill Seeks Excise Tax On To-Go Alcohol
New York would impose a 5% excise tax on sales of to-go alcoholic drinks under a bill introduced in the state Senate, with funds from the tax to be put toward substance use education and treatment programs.
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May 10, 2024
SD General Revenues Through April Up $24M Over Estimates
South Dakota's general revenue collection was up roughly $24 million over budget estimates from July through April, according to a monthly report by the state Bureau of Finance and Management.
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May 10, 2024
Use Of AI For Tax Comment Letters Poses Ethical Quandaries
While artificial intelligence can streamline the process of conducting a comprehensive review of complex, IRS-proposed federal tax regulations, tax attorneys must be aware of professional and ethical considerations when using it to help draft comment letters to submit to the agency.
Expert Analysis
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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.
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How New York State Budget Will Affect Business Taxpayers
The comprehensive state budget legislation recently finalized by New York Gov. Kathy Hochul and the state Legislature did not include some especially concerning tax proposals, but it will subject some state taxpayers to increased tax liability and lengthier appeals, say attorneys at McDermott.
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Taxing The Internet And Remote Workers: SALT In Review
From a New York ruling against the taxing of internet services to an attack on Philadelphia's taxing of remote workers, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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How Cities Can Tackle Post-Pandemic Budgeting Dilemmas
Due to increasing office vacancies around the country, cities may consider politically unpopular actions to avoid bankruptcy, but they could also look to the capital markets to ride out the current real estate crisis and achieve debt service savings to help balance their budgets, say attorneys at Cadwalader.
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State Payroll Taxes Need Remote Work Reforms
To alleviate employer confusion around remote employee payroll tax, lower enforcement costs and better compete for top talent, states should allow a specific number of remote work days without withholding, simplify their administrative requirements and coordinate their tax policy reforms, say attorneys at Miller Canfield.
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Cannabis Supercenters: Key Benefits And Legal Issues
Barstow, California’s novel plan to convert an abandoned mall into a cannabis supercenter could offer a potential blueprint for cannabis companies to thrive in a saturated market and for communities to repurpose underutilized retail spaces — but certain financing, zoning and leasing issues will need to be assessed, says Christopher Gordon at Fox Rothschild.
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Taxing The Digital Economy: The Good, The Bad And The Ugly
U.S. tech companies should watch for important developments in international taxation, including the resolution of Apple's decade-old state aid case, growing frustration with the Organization for Economic Cooperation and Development's global tax plan and adoption of the digital services tax instead, says Joyce Beebe at Rice University's Baker Institute for Public Policy.
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Kentucky Tax Talk: Pros, Cons Of The SALT Cap Workaround
Recent legislation that allows pass-through entities to be taxed at the entity level — Kentucky’s response to the federal cap on state and local tax deductions — could result in significant savings for taxpayers, but whether it applies to sole proprietorships and other aspects of the law are unclear, say attorneys at Frost Brown.
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Big Tax Changes For Multinational Cos. In Budget Proposal
The Biden administration’s fiscal year 2024 budget proposes changes that would materially alter decades-old Internal Revenue Code provisions, requiring a shift in multinational corporations' tax planning strategies comparable to that required after enactment of the Tax Cuts and Jobs Act, say Xenia Garofalo and Kyle Colonna at Eversheds Sutherland.
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Home Seized, Tax Paid, Government Enriched: SALT In Review
From a Minnesota county's profit on a home seizure to a California proposal to raise corporate income taxes, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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Mich. Statute Of Limitations Cases Carry Nationwide Impacts
The outcomes of Dine Brands v. Eubanks and Walt Disney v. Eubanks, currently working their way through the Michigan courts, are likely to affect how statutes of limitations in unclaimed property audits are calculated nationwide as well as within the state, given the widespread adoption of similar model provisions by many other states, say attorneys at McDermott.
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Wash. Fallout And New York Pets: SALT In Review
From the early fallout of Washington state's capital gains ruling to a proposed tax credit for adopting pets in New York, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.