On April 2, 2026, the Supreme Judicial Court of Maine ruled that a liquor supplier was subject to Maine income tax and owed nearly $750,000 in state income tax, penalties, and interest for the 2011-2017 tax years.
The liquor supplier argued that it was not subject to income tax because it did not have nexus
P.L. 86-272
Stale gum: Oregon Tax Court denies P.L. 86-272 protection to cigarette manufacturer
By Charles Capouet & John Ormonde on
Posted in Income Tax
The Oregon Tax Court, Regular Division, held that P.L. 86-272 did not preclude Oregon from imposing its excise (income) tax on an out-of-state manufacturer of cigarettes and other tobacco products based on two activities. First, the court held that the manufacturer’s mandate that the in-state wholesalers accept product returns was not a protected activity. The…
New Jersey updates guidance regarding virtual currencies
By Jonathan Feldman, Jeremy Gove & Alla Raykin on
Posted in Digital Economy
The New Jersey Division of Taxation recently updated Technical Advice Memorandum 2015-1(R), first issued in 2015, regarding the tax treatment of transactions involving convertible virtual currency, such as Bitcoin. The updated TAM states that the state conforms to the federal treatment of convertible virtual currency for Corporation Income Tax and Gross Income Tax purposes.…