Shaking things up in state and local tax
Shaking things up in state and local tax
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By Stephen Burroughs and Open Weaver Banks
The South Carolina Department of Revenue requested public comment on a draft Revenue Ruling and a draft Revenue Procedure that detail how it will prospectively apply alternative apportionment to multistate taxpayers. This represents the Department’s second attempt at drafting alternative apportionment guidance (previous coverage). The Ruling describes…
On April 13, 2015, Governor Andrew Cuomo signed New York’s 2015-2016 budget legislation, which, among other changes, conforms the New York City general corporation tax to the most significant changes from last year’s New York State corporation franchise tax reform.
View the full Legal Alert.
New York Governor Andrew Cuomo introduced his 2015-2016 budget and accompanying legislation on January 19, 2015. After much negotiation, the Legislature just enacted the Budget Bill. As a result, New York’s tax law has been significantly altered for the second time in two years.
View the full Legal Alert.
New Jersey’s related-member addback provision has five statutory exceptions, but only one is really worthy of comment.
In their article for State Tax Notes, Sutherland attorneys Leah Robinson and Open Weaver Banks examine the exceptions to New Jersey’s related-member addback provision, focusing on the only exception successfully relied on in the state’s tax court—the…
New York’s corporate tax reform includes sweeping changes affecting nearly every aspect of its corporation franchise tax.
In their article for State Tax Notes, Sutherland Partners Leah Robinson and Marc A. Simonetti review what New York corporate taxpayers should be doing now to be ready for the state’s corporate tax reform measures that will…
There has been significant controversy in New York regarding whether receipts from services—particularly those that may be delivered via the Internet—constitute “service” receipts or “other business receipts” for corporate franchise tax apportionment purposes. The distinction between “service” receipts and “other business receipts” is crucial because prior to 2015, New York Tax Law generally required sourcing…
New York Governor Andrew Cuomo introduced his 2015-2016 budget and accompanying legislation on January 19, 2015 (the 2015 Budget Bill). If enacted, New York’s tax law will be significantly altered for the second time in two years. The sales tax provisions of the legislation will tax most intercompany transactions and will also accelerate the payment…
By Robert P. Merten III and Prentiss Willson
Massachusetts has published its final revised market-sourcing regulation (830 CMR 63.38.1), effective for tax years beginning on or after January 1, 2014. The final revisions to these rules, among other things, conform the regulation with recent state law amendments requiring taxpayers to use market-based sourcing…
Undoubtedly, New Jersey Governor Chris Christie, the State Legislature, the Tax Court and the Division of Taxation have their own lists of resolutions for 2015.
However, in their article for State Tax Notes, Sutherland attorneys Leah Robinson and Open Weaver Banks suggest numerous New Year’s resolutions for New Jersey, including publishing an audit manual and…
