News & Analysis as of

New Legislation State and Local Government Tax Planning

Jackson Walker

One Big Beautiful Bill Act Increases Deduction for State and Local Tax but Fails to Address Nexus Concerns

Jackson Walker on

In welcome news for individual taxpayers, the One Big Beautiful Bill Act temporarily increases the “SALT cap” – the limit on the amount of the income tax deduction for state and local income, sales, and property taxes – from...more

Brownstein Hyatt Farber Schreck

Major Property Tax Relief Passed by the Colorado Legislature, Now It’s Up to the Voters

In the waning hours of the legislative session, the Colorado General Assembly passed a bill that would ask voters to approve a 10-year property tax relief plan to combat skyrocketing home values and backfill lost revenue for...more

Schwabe, Williamson & Wyatt PC

HB 1732 and 1733: Washington’s Long-Term Care Act

The Washington Legislature and Governor Inslee moved quickly the last week of January to pass and sign House Bills 1732 and 1733, which revised the controversial Long Term Care Act that would have gone into effect January 1,...more

Schwabe, Williamson & Wyatt PC

Washington Long-Term Care Insurance Tax

On January 27, 2022, Governor Jay Inslee signed two bills that delay implementation of the Washington Cares Act to July 1, 2023, including the 0.58% payroll tax, and provide additional exemptions from the program. The Act...more

Bodman

Michigan Enacts Elective Flow-Through Entity Tax as “SALT Cap Workaround”

Bodman on

On Monday, December 20, 2021, Michigan Governor Gretchen Whitmer signed House Bill (H.B.) 5376 into law.  H.B. 5376, also referred to as Michigan’s “SALT Cap Workaround,” amends the Michigan Income Tax Act to allow...more

Morgan Lewis - Tech & Sourcing

Maryland Is First State to Enact Digital Advertising Tax

Maryland enacted a state tax on digital advertising gross revenues on February 12, after overriding the governor’s veto. The passed law, which is the first of its kind in the United States, imposes “a tax on certain annual...more

Morgan Lewis

Maryland Passes Digital Advertising Tax, Now Being Challenged in Court

Morgan Lewis on

The Maryland state legislature voted on February 12 to override Governor Larry Hogan’s veto and thus enacted the Digital Advertising Act, the first tax of its kind in the United States. Other states such as Indiana, New York,...more

Akerman LLP - SALT Insights

What Will Come of Maryland’s Unique and Controversial Digital Advertising Tax?

On February 12, 2021, overriding the Governor’s veto, Maryland enacted a first-of-its-kind tax “Digital Advertising Gross Revenues Tax” that has already sent shockwaves through the industry....more

Flaster Greenberg PC

NJ Passes New Workaround Rule for SALT Deductions

Flaster Greenberg PC on

On January 13, 2020, New Jersey Governor Phil Murphy signed into law the “Pass-Through Business Alternative Income Tax Act” (the Workaround Act). The Workaround Act establishes an elective entity level tax on an individual’s...more

McDermott Will & Schulte

Gross Receipts Taxes Face Policy and Legal Challenges

As the economy shifts to a digital one, we are finding that states are turning toward unconventional revenue options. One trend we’re seeing is the surprising comeback of the gross receipts tax (GRT): • Oregon’s new...more

Seyfarth Shaw LLP

New Illinois Law Eliminates Franchise Tax, Offers Tax Amnesty

Seyfarth Shaw LLP on

Illinois recently enacted legislation that offers significant benefits to delinquent taxpayers and corporations doing business in Illinois. The new legislation phases out the Illinois franchise tax over a four year period...more

Coblentz Patch Duffy & Bass

California Enacts its Version of Limitation on Business Losses for Non-Corporate Taxpayers

As many in California already know, the State does not conform automatically to new Federal tax legislation, including the Tax Cuts and Jobs Act enacted on December 22, 2017 (“TCJA”). Instead, any conforming changes must be...more

Ballard Spahr LLP

Pennsylvania 2019 Tax Bill Adds Opportunity Zone Conformity for Personal Income Tax, Adopts New Sales Tax Provisions, and Amends...

Ballard Spahr LLP on

Act 13 of 2019 (Act 13), signed by Governor Wolf on June 28, 2019, made several changes to Pennsylvania tax laws, including the following significant changes. ...more

Foster Garvey PC

Oregon’s New Corporate Activity Tax

Foster Garvey PC on

We are taking a break from our multi-post coverage of Opportunity Zones to address a recent, significant piece of Oregon tax legislation. On May 16, 2019, Governor Kate Brown signed into law legislation imposing a new...more

Carlton Fields

New Florida Law: Assessing Benefit Plan Costs for New Cancer Benefits Owed to Florida’s Bravest

Carlton Fields on

This alert focuses on Florida governmental entities that provide benefits to firefighters. Newly adopted Florida Statutes chapter 112.1816, scheduled to go into effect July 1, 2019, provides additional minimum benefits to...more

Ballard Spahr LLP

Pennsylvania Allows Federal Depreciation for Corporate Net Income Tax (But Not Bonus Depreciation)

Ballard Spahr LLP on

Pennsylvania Governor Tom Wolf signed Act 72 of 2018 into law last week. Act 72 will allow Pennsylvania corporate net income tax (CNIT) taxpayers to use the federal Modified Accelerated Cost Recovery System (MACRS), but not...more

Pullman & Comley, LLC

Are Connecticut Income Taxes Now Tax Deductible For The Owners Of Pass-Through Entities?

Pullman & Comley, LLC on

June 5, 2018 The Tax Cuts and Jobs Act, which was passed by Congress last year, imposed a $10,000 limit on state and local tax (“SALT”) deductions. ...more

Bradley Arant Boult Cummings LLP

Alabama Legislature Passes Bill to Address Calculation of Credit for Taxes Paid to Other States - State & Local Tax Alert: Alabama...

Gov. Kay Ivey signed House Bill 384, into law last Wednesday, March 28, ending a debate that has lasted for almost a decade over the scope of the individual income tax credit for certain taxes paid to other states. ...more

Seyfarth Shaw LLP

Tax Reform Impact On Estate Taxes

Seyfarth Shaw LLP on

This is the sixth issue in a planned series of alerts designed to provide an in-depth analysis on topics related to tax reform. Like all new things, new years typically welcome many changes, opportunities and new...more

19 Results
 / 
View per page
Page: of 1

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide