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Proposed Legislation › Financial Institutions › State Taxes

Pillsbury Winthrop Shaw Pittman LLP

California Governor Releases 2025 Budget Proposal to Move Banks and Financial Corporations to Single-Sales-Factor Apportionment

Pillsbury Winthrop Shaw Pittman LLP on

The proposal includes a shift to a single-sales-factor apportionment formula for financial institutions, aiming to increase tax revenue starting in tax year 2025. Update: On May 14, 2025, Governor Newsom released the May...more

Eversheds Sutherland (US) LLP

The worst of the worst: Washington expands its B&O and sales taxes

Eversheds Sutherland (US) LLP on

On May 20, 2025, the last day for bill signing, Washington Governor Ferguson signed two key tax bills that expand the sales tax to include additional services and increase the rates of the (awful) business and occupation...more

Bradley Arant Boult Cummings LLP

Proposed Updates to Alabama Business Tax Laws: Summary of the Financial Institution Excise Tax Reform Act of 2019 and Alabama...

Bradley Arant Boult Cummings LLP on

Two landmark bills were introduced in the Alabama Legislature on April 11, potentially affecting numerous businesses in the state. Committees of the House of Representatives are expected to consider the Financial Institution...more

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