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The New York State Tax Appeals Tribunal upheld an income tax assessment and disallowed taxpayers’ claim of resident tax credits (RTCs) to the extent such RTCs were claimed for taxes paid to Connecticut on the taxpayers’ carried interest income. The taxpayers, both of whom were residents of New York, were employed by an affiliate of…

On May 14th, California Governor Gavin Newsom issued his proposed May revision to the state budget for fiscal year 2020-21. The budget proposal included two revenue-raising income tax measures, applicable for tax years 2020 through 2022: (1) limiting the amount of business tax credits a taxpayer can use to $5 million annually, and (2) suspending…

This podcast discusses recent notices and assessments issued by the Massachusetts Department of Revenue denying taxpayers’ Economic Opportunity Area Credit and Economic Development Incentive Program Credit use and carryforward. It discusses:

  • the 2016 statute amendment that imposed additional credit requirements and led to this issue
  • the Department’s position on why it can deny new credit

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The Georgia Tax Tribunal, in its first published decisions in more than a year, held that:

  • Scholastic Book Clubs has nexus in Georgia and must collect sales tax as a result of its relationship with teachers in the state; and
  • In a case affording significant deference to the Department’s regulations, a taxpayer that elects to

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Georgia Governor Nathan Deal has signed into law several significant tax bills, affecting various Georgia tax matters, including sales and use taxes, property taxes, corporate income taxes and state tax credits, which:

  • Adjust Georgia’s statutory interest rates applicable for both assessments and refunds for all tax types, as well as create new procedural requirements for

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By Evan Hamme and Marc Simonetti

The Texas Court of Appeals held that sovereign immunity bars Machete’s Chop Shop’s declaratory judgment action because Machete failed to plead that the Texas Film Commission acted ultra vires when it denied Machete’s grant application for the 2010 film, Machete. Machete alleged that the Texas Film Commission lacked authority…

By Olga Goldberg and Marc Simonetti

The California Superior Court struck down a regulation that imposed a de facto ban on contingent fee arrangements between businesses and consultants applying for the California Competes tax credit. The Court ruled that the regulation improperly exceeded the scope of the related statute. Ryan U.S. Tax Services, LLC v.

By Michael Penza and Andrew Appleby

The California Court of Appeal held that California’s disparate treatment of intrastate and interstate unitary businesses discriminated against interstate commerce. California requires taxpayers engaged in a unitary business within and without California to calculate their taxable income using combined reporting, but provides taxpayers engaged in a unitary business wholly…