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In General Motors Corporation v. Commonwealth, the Pennsylvania Supreme Court held that the state’s prior flat $2 million cap on a corporate taxpayer’s net operating loss (NOL) deduction violated the state constitution’s Uniformity Clause and, therefore, the state’s NOL deduction statute must be stricken in its entirety.1 Nevertheless, the Court determined that the…

Last week, the Multistate Tax Commission (MTC) held its Fall Executive Committee and Uniformity Committee Meetings (in person) in Alexandria, Virginia. During the Executive Committee Meeting, MTC staff approved California’s participation as a sovereignty member. The Uniformity Committee Meeting focused on discussing the status of its current projects, held its state roundtable, and proposed a…

The Louisiana Department of Revenue (the Department) issued Revenue Information Bulletin No. 21-029 (the Bulletin), inviting corporate income taxpayers to resolve intercompany transfer pricing issues via the Louisiana Transfer Pricing Managed Audit Program (the Program) beginning on November 1, 2021. The purpose of the Program is to “create an efficient and expedited resolution for corporate…

On August 31, 2021, the Maryland Comptroller filed proposed regulations on the controversial digital advertising gross revenues tax (the DAT) with the Joint Committee on Administrative, Executive, and Legislative Review. Of primary interest to potential DAT taxpayers, and described in this Legal Alert, the regulations adopt a device-based apportionment fraction. The comment period for the…

On August 25, 2021, the New York State Department of Taxation and Finance released guidance (Technical Memorandum, TSB-M-21(1)C, (1)I) addressing the recently enacted optional pass-through entity tax (PTET) that partnerships and New York S corporations may elect to pay for tax years beginning on or after January 1, 2021.

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On June 24, 2021, the United States Supreme Court held a conference to review New Hampshire’s motion for leave that challenged Massachusetts’ taxation of wages earned by nonresident remote workers during the Covid-19 period. This morning, the Supreme Court denied New Hampshire’s motion. Because the Supreme Court declined to address the issues raised by New…

Georgia Governor Brian Kemp has signed into law House Bill 451, which provides temporary ad valorem tax relief to Georgia manufacturers to mitigate the economic and logistical disruptions caused by the COVID-19 pandemic.

Under HB 451, for property tax year 2021, manufacturers claiming Georgia’s Level 1 Freeport exemption pursuant to O.C.G.A. § 48-5-48.2(c)(1) may…