Policy and Legislation

Subscribe to Policy and Legislation via RSS

Late last month, the Ohio Department of Taxation updated its existing sourcing bulletin to provide that marketplace facilitator sales into the state are sourced for sales and use tax purposes at the location where a consumer receives an order or service. The change allows marketplace facilitators to apply the same destination-based sourcing rules to both…

Earlier this month, Maryland State Senators Miller and Ferguson introduced Senate Bill 2, which would tax Maryland digital advertising service gross revenues at up to a 10% rate. Earlier today, the Department of Legislative Services issued the Fiscal and Policy Note for the proposal, which estimates up to $250 million of revenue in the…

The November 26, 2018, release by the Internal Revenue Service of proposed regulations (REG-106089-18) related to IRC § 163(j) has provided some clarity for federal income taxpayers. But the regulations’ treatment of federal consolidated groups gives rise to complexities and questions as to how the limitation will operate at the state level.
This Bottom Line…

The federal Tax Cuts and Jobs Act (TCJA) created a new economic development program designed to spur investment in certain low-income communities designated as “Opportunity Zones.” The new federal tax provisions offer significant opportunities to defer, and in some instances permanently reduce, gains that are invested in Opportunity Zones, as well as to abate gains…

In this article in the Journal of Multistate Taxation and Incentives, Charlie Kearns and Dennis Jansen provide an overview of those recent state and local tax legislative developments affecting cryptocurrency, including attempts to protect miners or holders from excessive taxation and incent them to “locate” in a jurisdiction, which may offer some insight into…

On Tuesday, June 24, the Judiciary Committee of the US House of Representatives held a hearing on “Examining the Wayfair decision and its Ramifications for Consumers and Small Businesses.” The hearing was scheduled at the direction of Rep. Robert Goodlatte (R-VA), Chairman of the Judiciary Committee and did not address any specific pending or former…

In the midst of a budget showdown between New Jersey’s Legislature and Governor Murphy, on June 25, 2018, the Legislature passed a replacement bill that seeks to raise revenue with a temporary Corporation Business Tax “surtax” on corporations meeting certain income thresholds and by limiting New Jersey’s dividend exclusion. The Legislature also responded to the…