Shaking things up in state and local tax
Shaking things up in state and local tax
A number of Connecticut digital advertising bills and a New York data tax bill have been introduced to jumpstart the 2023 legislative sessions. Both states have considered – but ultimately rejected – legislation that would adopt targeted taxes on the digital economy in recent years.
On January 18, 2023, proposed legislation was filed in the…
In this episode of the SALT Shaker Podcast policy series, host and Eversheds Sutherland Partner Nikki Dobay welcomes back Stephanie Do, Senior Tax Counsel for the Council On State Taxation (COST), for a discussion about two recent proposals to expand the False Claims Acts in Connecticut and New York.
As our listeners know, most…
On April 21, the Connecticut Department of Revenue Services released Ruling no. 2022-2, finding that online learning plans were not taxable digital goods. The company offers various learning plans which address educational needs through virtual learning and on-demand digital courses in academic subjects, professional topics, and vocational licensure preparation courses. The company’s platform is…
This episode of the Eversheds Sutherland SALT Shaker Podcast policy series discusses a Connecticut legislative proposal that would create a wage compensation tax. The proposal is currently included in the Connecticut budget and is specifically meant to alleviate the SALT deduction cap put in place by the Tax Cuts and Jobs Act 2017 for wage …
On April 22, 2021, the Connecticut General Assembly’s Joint Committee on Finance Revenue and Bonding (“Joint Committee”) approved a revised revenue bill (HB6443) to implement the Connecticut state budget. We have learned that the revised bill includes: (1) a new digital advertising services tax; and (2) a new wage compensation tax, whereby, at…
On April 14, 2021, the Connecticut General Assembly’s Joint Committee on Finance Revenue and Bonding introduced SB1106. The bill would establish the “Connecticut Equitable Investment Fund,” which would be funded by, among other things: (1) a new digital advertising services tax; and (2) a new wage compensation tax, whereby, at an employee’s or independent…
On January 29, Connecticut Rep. Josh Elliot, D-Hamden, and twenty-four other co-sponsors filed proposed HB 6187, which proposes to establish a 10 percent tax on the annual gross revenues derived from digital advertising services in the state for any business with annual worldwide gross revenues exceeding $10 billion. The proposed bill calls for…
A “proposed bill” introduced in the Connecticut General Assembly (No. 5645) proposes the establishment of a tax on “social media provider companies,” which would be measured by “apportioned annual gross revenue derived from social media advertising services” in Connecticut. The proposed bill calls for the revenue from such tax to be partially dedicated…
With the threat of COVID-19 looming, several state legislatures will halt or temporarily suspend their legislative sessions, including: Colorado, Delaware, Connecticut, Georgia, Kentucky, Maine, Maryland, New Hampshire, and Vermont. For many states, this is an unprecedented move while in others, the legislature has not adjourned early since the Civil War. Other state legislatures, like California’s…
The IRS intends to issue regulations pertaining to states’ attempts to subvert the state and local tax deduction cap.
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