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State and Local Government › Tax Credits › Business Taxes

Bradley Arant Boult Cummings LLP

Alabama Legislature Wraps Up Productive Session on Business Tax Bills

Bradley Arant Boult Cummings LLP on

The Alabama Legislature adjourned sine die near midnight on May 14, 2025, with the final legislative meeting day bogged down with filibusters by certain senators. Fortunately, a spate of tax bills had already passed both the...more

Eversheds Sutherland (US) LLP

New York State releases Fiscal Year 2026 Executive Budget

Eversheds Sutherland (US) LLP on

On January 21, 2025, New York Governor Hochul released her Fiscal Year 2026 Executive Budget and accompanying legislation (the Budget Bill). The Budget Bill includes a middle-class tax cut, a temporary personal income tax...more

Verrill

2023 Massachusetts Tax Update

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Massachusetts Estate Tax: For decedents dying on or after January 1, 2023, there is no Massachusetts estate tax for an estate under $2,000,000. The law does not adjust the filing threshold so state tax returns may still be...more

Bradley Arant Boult Cummings LLP

Tennessee Expands Brownfield Franchise and Excise Tax Credit

Bradley Arant Boult Cummings LLP on

On March 20, Gov. Lee signed into law SB 2158/HB 2227, which amends the Tennessee statute governing franchise and excise (F&E) tax credits available for brownfield redevelopment. Effective July 1, 2020, the law creates...more

McDermott Will & Schulte

Weekly IRS Roundup December 9 – 13, 2019

McDermott Will & Schulte on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of December 9 – 13, 2019. December 10, 2019: The IRS issued a notice providing that the requirement...more

Eversheds Sutherland (US) LLP

It’s Not the Eggnog – New Jersey Proposes to Specially Allocate GILTI Based on GDP

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On December 21, the New Jersey Division of Taxation released Technical Bulletin TB-85, which addresses how the Division will expect taxpayers to calculate the amount of so-called global intangible low-taxed income (GILTI) and...more

Pierce Atwood LLP

Maine Denies Income Tax Credit for New Hampshire Business Taxes

Pierce Atwood LLP on

In its August 2, 2018 decision, Goggin v. State Tax Assessor, 2018 ME 111, the Maine Supreme Judicial Court held that the Business and Consumer Court correctly denied Maine residents an individual income tax credit for the...more

Schwabe, Williamson & Wyatt PC

Tax Reform: What Does the Tax Cuts and Jobs Act Mean for the Real Estate and Construction Industry?

Schwabe, Williamson & Wyatt PC on

The Tax Cuts and Jobs Act of 2017 (the “Act”) was signed into law by President Donald Trump on December 22, 2017. The Act changes many provisions of the Internal Revenue Code, from individual and business provisions, to...more

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