In this episode of the SALT Shaker Podcast focused on policy issues, host and Eversheds Sutherland Partner Nikki Dobay hosts a full house for a West Coast legislative update. Nikki welcomes back Rob Gutierrez, President and CEO of the California Taxpayers Association (CalTax), and Jeff Newgard, Principal and Owner of Peak Policy and also
Policy and Legislation
Washington legislature holds public hearing on banking surcharge
By Nikki Dobay & David Jasphy on
Posted in Policy and Legislation
On February 22, the Washington State Legislature Senate Committee on Ways & Means held a public hearing on SB 5967, which was recently amended. If enacted, the proposed amendment would create a new B&O tax surcharge on a new class of “specified financial institutions” and amend the current B&O tax surcharge (enacted in…
South Dakota bill proposes to exempt data center IT equipment
By Jonathan Feldman, Jeremy Gove & Alla Raykin on
Posted in Digital Economy, Policy and Legislation
South Dakota Senate Bill 157 proposes an exemption from gross receipts tax for sales of “enterprise information technology equipment” and software in excess of $2 million used in South Dakota data centers. Enterprise information technology equipment eligible for the exemption includes: (i) computer hardware, servers, routers, cooling systems and towers; (ii) temperature control and power
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Back in business: New California law restores the NOL deduction and removes limitations on tax credits starting for tax year 2022
By Nikki Dobay, Timothy Gustafson & Annie Rothschild on
Posted in California, Policy and Legislation
Today, California Governor Gavin Newsom signed budget trailer bill SB 113, allowing taxpayers to again fully utilize business tax credits, like the R&D credit, and net operating loss deductions for taxable years beginning on or after January 1, 2022. For tax years 2020 to 2022, AB 85 (enacted in 2020), limited the amount of…
Idaho Governor Little signs rate reductions and income tax rebate bill into law
By Nikki Dobay, Charlie Kearns & Fahad Mithavayani on
Posted in Income Tax, Policy and Legislation
On February 4, Idaho Governor Little signed into law HB 436, which will decrease individual and corporate income tax rates. HB 436 was passed and signed into law in just over 20 days after being introduced. Specifically, the legislation lowers the corporate income tax rate from 6.5% to 6% and consolidates the personal income…
Golden news from the Golden State: Bill lifting NOL suspension and credit limitations lives, bill for single-payer healthcare dies (along with the taxes required to fund it)
By Nikki Dobay, Timothy Gustafson & Annie Rothschild on
Posted in California, Policy and Legislation
Introduced this week, California AB 87 implements Governor Gavin Newsom’s proposed budget plan to allow taxpayers to again fully utilize business tax credits, like the R&D credit, and net operating loss deductions in 2022 (see our previous coverage on Governor Newsom’s proposed budget here). For tax years 2020 to 2022, AB 85 (enacted in …
Massachusetts Legislature considering multiple digital advertising tax proposals
By Jonathan Feldman, Jeremy Gove & Alla Raykin on
Posted in Digital Economy, Policy and Legislation
Following on Maryland’s heels, there are currently five separate digital advertising tax measures pending before the Massachusetts legislature. H. 2894 would impose a 5% tax on the annual digital advertising revenue from companies generating more than $25 million in digital advertising sales in Massachusetts. H. 2928 would not impose a tax directly, but would create…
California doesn’t need GILTI
By Jeremy Gove & Annie Rothschild on
In this episode of the SALT Shaker Podcast, host and Eversheds Sutherland Associate Jeremy Gove is joined by Associate Annie Rothschild for a quick review of GILTI, a 2021 failed California proposal to conform to GILTI and how GILTI has been treated in other states.
They examine the history and purpose of GILTI, and what…
Washington governor delays start of the state’s new long-term care program
By Nikki Dobay, Charlie Kearns & Fahad Mithavayani on
Posted in Policy and Legislation
On January 27, Washington Governor Inslee signed Washington HB 1732 and HB 1733 into law, which would delay the start of the long-term care program known as the Washington Cares Fund, just one day after the bills passed in the Washington legislature.
As signed, HB 1732 delays the implementation of the program by 18 months.…
Off to the races: The 2022 state legislative sessions begin
By Nikki Dobay & Charlie Kearns on
Posted in Podcast, Policy and Legislation
In this episode of the SALT Shaker Podcast focused on policy issues, host and Eversheds Sutherland Partner Nikki Dobay welcomes fellow SALT Partner Charlie Kearns. Together, they dive into the tax bills coming out of the states as the legislative sessions begin. Charlie and Nikki focus on the trends and proposals that have caught…