News & Analysis as of

SALT Tax Liability Income Taxes

Jackson Walker

Income Tax Changes Warrant Consideration When Awarding Equity Incentives

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Tax law is an interrelated web of complex rules, and changes in one rule can impact compensation strategies for management and executives even if the change is to individual income tax calculation rules. Executives should...more

Lippes Mathias LLP

Countdown to Tax Changes: Navigating Budget Reconciliation 2025

Lippes Mathias LLP on

As the clock ticks down to the end of 2025, the impending sunset of key provisions of the Tax Cuts and Jobs Act (“TCJA”) looms large, threatening tax hikes for millions of Americans. With Congress at a crossroads, the...more

Cadwalader, Wickersham & Taft LLP

Leaked Memorandum Details Possible House Tax Proposals

On February 12, 2025, the House proposed a budget resolution that earmarked up to $4.5 trillion for tax cuts over the next ten years.  While the House has yet to elaborate on specific tax cuts or legislation, a widely...more

Eversheds Sutherland (US) LLP

SALT Scoreboard - Quarter 4, 2024

This is the fourth edition of the Eversheds Sutherland SALT Scoreboard for 2024. Since 2016, we have tallied the results of what we deem to be significant taxpayer wins and losses and analyzed those results. Our entire SALT...more

Kilpatrick

5 Key Takeaways - State and Local Tax Issues in Corporate M&A Transactions

Kilpatrick on

On November 15, David Hughes presented at the Practicing Law Institute’s three-day conference on “Tax Strategies for Corporate Acquisitions, Dispositions, Spin-Offs, Joint Ventures, Financings, Reorganizations &...more

Baker Donelson

SALT Select Developments - July 2024

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State and local taxes impact almost every taxpayer, and developments in any one jurisdiction can be frequent and sometimes confusing. ln this newsletter edition, we will briefly summarize selected state and local tax (SALT)...more

Baker Donelson

SALT Select Developments - January 2024

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State and local taxes impact almost every taxpayer, and developments in any one jurisdiction can be frequent and sometimes confusing. ln this newsletter edition, we will briefly summarize selected state and local tax (SALT)...more

Skadden, Arps, Slate, Meagher & Flom LLP

Taxpayers (and States) Take Notice: Invalidation of the Maryland Digital Advertising Tax Highlights the Importance of the Internet...

A Maryland state court invalidated the state’s first-in-the-nation tax on digital advertising (Maryland Digital Advertising Tax) earlier this week. Enacted in February 2021, the Maryland Digital Advertising Tax was...more

Baker Donelson

SALT Select Developments - September 2022

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State and local taxes impact almost every taxpayer, and developments in any one jurisdiction can be frequent and sometimes confusing. In this newsletter edition, we will briefly summarize certain SALT developments in several...more

Akerman LLP - SALT Insights

Sirius XM Prevails in Texas Supreme Court on Sourcing of Receipts from Satellite Signal

In a recently issued taxpayer-favorable opinion, the Texas Supreme Court overturned the court of appeals’ decision holding that the state’s performance-based sourcing statute for service receipts essentially looks to customer...more

Ward and Smith, P.A.

Rapid Fire Legal Update on Tax Provisions, E-Discovery, Lobbying Issues, and ADA Compliance

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We recently provided timely updates on new tax provisions, electronic discovery, lobbying issues, and ADA compliance during Ward and Smith's 2021 Virtual In-House Counsel Webinar. The following article highlights...more

Polsinelli

The Proposed Build Back Better Act Moves Forward After the House Passes a Revised Version of the Bill

Polsinelli on

Overview - Over the past year, several tax law changes have been proposed by the Biden administration and, in September 2021, draft legislative language was circulated, which set forth proposed changes to the Internal...more

Akerman LLP - SALT Insights

Louisiana Launches Unique State Transfer Pricing Initiative

Joining Indiana and North Carolina, Louisiana last week became the third state to offer an alternative to the burdensome and expensive process of enduring a state transfer pricing audit....more

Foster Garvey PC

The Oregon SALT Cap Workaround for Pass-Through Entities Is Finally Here – Governor Kate Brown Has Signed Senate Bill 727 Into Law

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Last fall, the IRS announced, with respect to pass-through entities (LLCs or other entities taxed as partnerships or S corporations), that, if state law allows or requires the entity itself to pay state and local taxes (which...more

McDermott Will & Schulte

[Webinar] Tax in the City® - November 2nd, 11:30 am - 1:00 pm PDT

McDermott Will & Schulte on

Recent tax proposals may bring significant changes to the US federal, international and state and local tax landscape. Join us for our first nationwide Tax in the City® program for a discussion on the key proposed changes...more

Harris Beach Murtha PLLC

Massachusetts Enacts Pass-Through Entity Tax

Harris Beach Murtha PLLC on

One of the most controversial individual income tax changes enacted under the Tax Cuts and Jobs Act of 2017 is the $10,000 cap on the deduction for state and local income and property taxes (“SALT”) for federal income tax...more

ArentFox Schiff

One, Two, Three, Four . . . Can I Have a Little More? Another State Enacts SALT Cap Workaround

ArentFox Schiff on

While business owners wait to see whether Congress raises the U.S. long-term capital gains rate from 20 percent to 25 percent and enacts relief from the limitations on the deductibility of state and local taxes (SALT),...more

Shumaker, Loop & Kendrick, LLP

South Carolina Enacts SALT Cap Workaround

South Carolina recently joined the growing number of states to enact legislation that provides a state workaround to the $10,000 State and Local Tax (SALT) federal income tax deduction cap imposed on individual taxpayers by...more

Burr & Forman

South Carolina Joins Other States and Adopts Federal State and Local Tax Deduction Cap Workaround

Burr & Forman on

The State of South Carolina has now adopted legislation allowing “pass through” entities to elect each year to be taxed at the entity level on their active trade or business income instead of having their owners taxed at the...more

Freeman Law

[Webinar] Freeman Law Legal and Tax Update - March 30th, 1:00 pm CT

Freeman Law on

Join us as we discuss important developments during these unique times, and bring you up to speed on current initiatives. Business are still facing unprecedented challenges, and we are here to provide insights. During...more

BakerHostetler

Bad Debts - A State Income & Sales Tax Perspective

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It's no mystery that when times are hard, bad debts skyrocket. But how do businesses handle bad debts for state income and sales tax purposes? Matt Hunsaker hits the high points in this week's episode....more

Foster Garvey PC

The Changing Face of Employer State Tax Reporting and Payment Obligations in the Coronavirus Telework "New Normal"

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In the wake of the coronavirus pandemic, companies in wide-ranging industries across the country have unprecedented numbers of employees working from remote locations. In a prior post, we discussed numerous issues that may...more

BakerHostetler

State Tax in Transactions: Post Closing Issues (Part IV)

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Don't rest on your laurels because the closing ink has dried! In this final episode of the series on state and local tax issues in M&A, Matt Hunsaker addresses some of the issues that arise after closing and how to prepare...more

BakerHostetler

State Tax in Transactions: Apportionment & Combination Implications (Part III)

BakerHostetler on

In part 3 of our journey through SALT issues in M&A transactions, Matt Hunsaker highlights a few apportionment, unitary combination, and NOL usage implications that should be on your radar whenever you are involved in a...more

BakerHostetler

State Tax in Transactions - Expanding Nexus Footprint (Part II)

BakerHostetler on

M&A transactions can have big implications for your company's nexus footprint. In part two of the series on M&A transactions, Matt Hunsaker breaks down nexus issues that should be on your radar if your company is engaging in...more

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