News & Analysis as of

Small Business State Taxes

Mintz Edge

Client Alert: Delaware Franchise Taxes

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Everyone told you to incorporate in Delaware. Podcast hosts, industry blogs, your co-founder, your lawyer, your college roommate, your dogwalker – they all said that when it comes to incorporating your startup, Delaware is...more

Flaster Greenberg PC

NJ Tax Break for Small Businesses

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On March 20, 2025, New Jersey lawmakers advanced a measure that would bring the New Jersey Gross Income Tax into closer conformity with federal law regarding the income tax treatment of “qualified small business stock,” or...more

Bodman

Michigan Enacts Research and Development Tax Credit

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On January 13, 2025, Michigan Governor Gretchen Whitmer signed legislation (Michigan House Bill No. 5100) establishing a research and development tax credit (the “Michigan R&D Tax Credit”) in Michigan effective for tax years...more

Cozen O'Connor

Cozen Cities - December 4, 2024

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CHICAGO — Teachers Union Narrows Contract Demands- After eight months of increasingly tense contract negotiations, the Chicago Teachers Union has now narrowed its number of demands to land a deal in the next month, the...more

Baker Donelson

SALT Select Developments - April 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

WilmerHale

State Taxation of Qualified Small Business Stock: Federal Tax Exclusion Not Always Replicated at State Level

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In the event of an M&A transaction, many stockholders plan to take advantage of the exclusion from federal taxable income of gain realized from the sale or exchange of “qualified small business stock” (QSB stock). Section...more

McDermott Will & Schulte

Weekly IRS Roundup July 11 – July 15, 2022

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of July 11, 2022 – July 15, 2022. Additionally, for continuing updates on the tax impact of COVID-19,...more

Mitchell, Williams, Selig, Gates & Woodyard,...

COVID-19 Guidance for Texas Businesses

In response to the COVID-19 pandemic, the Texas Governor’s Business and Community Development Division has published helpful frequently asked questions for local small businesses and community economic development partners to...more

Foley & Lardner LLP

Coronavirus Impact on State Tax Reporting

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While the federal government has postponed Tax Day from April 15 to July 15, state tax agencies are not consistently following the federal extended due date for a myriad of reasons ranging from cash flow constraints to...more

Troutman Pepper

Pennsylvania Tax Updates

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Inheritance Tax Exemption for Small Businesses - Pennsylvania recently passed 72 P.S. § 9111(t), specifically aimed at eliminating the Pennsylvania inheritance tax on small family-owned businesses. The Pennsylvania...more

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