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

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.