A Summary Review of Tax Legislation, Court Decisions, Opinions of the Attorney General and Published Rulings of the Tax Commissioner Published from January 1, 2023 through November 10, 2023....more
Join Williams Mullen for our Fall Tax Forum on Thursday, November 9, 2023. Our speaker, Kyle Wingfield, will provide an annual review of Virginia tax developments, including key court decisions, administrative rulings, and...more
The General Assembly enacted legislation (H.B. 1456 and S.B. 1476) during its 2023 Regular Session that removed some of the barriers for qualifying for Virginia’s Pass-Through Entity Tax (PTET) election and altered how PTET...more
The table below summarizes the tax legislation enacted by the General Assembly during its 2023 Regular Session and approved by Gov. Youngkin that will become law on or before July 1, 2023. Please note that any legislation...more
During its 2023 Session, the Virginia General Assembly passed legislation, H.B. 1456 and S.B. 1476, that removes some of the barriers for participating in Virginia’s elective Pass-Through Entity Tax (PTET)....more
The Virginia Department of Taxation (Department) recently published Virginia Pass-Through Entity Tax Frequently Asked Questions for Taxable Years 2022 and After (FAQs). As summarized below, the FAQs provide helpful guidance...more
Have you ever been in the final throes of a deal and it fell through because of an unresolved state and local tax (SALT) issue? It happens more often than you might think.
Join the co-chair of our State and Local Tax...more
Join us virtually for the Spring Tax Forum on Thursday, May 26, 2022. Our speakers, Dan Durst and Kyle Wingfield, will provide the latest updates on tax and wealth planning, including:
- Virginia’s recently passed Pass...more
Understanding how solar and energy storage projects are taxed in Virginia is often confusing. Who assesses the value? What is the rate? Are any tax exemptions available? What is the revenue share?...more
4/22/2022
/ Energy Projects ,
Energy Sector ,
Energy Storage ,
Local Taxes ,
Pollution Control Facilities ,
Revenue Sharing ,
Solar Energy ,
State Taxes ,
Tax Exemptions ,
Tax Legislation ,
Tax Rates ,
Virginia ,
Webinars
During the 2022 General Assembly Session, legislation was enacted that allows a qualifying pass-through entity (PTE) to make an annual election for Taxable Years 2021 through 2025 to pay income tax at a rate of 5.75% at the...more
Virginia recently enacted legislation that provides an opportunity for the owners of a qualified pass-through entity (PTE) to reduce their federal income tax liability if the PTE makes an election to pay Virginia taxes at the...more
Good news for companies/vendors that sell “certified pollution control equipment or facilities” to city or county water, wastewater, stormwater or waste management facilities or systems in Virginia: the road to sales tax...more
Williams Mullen’s Firearms Industry Group and Orchid are excited to announce open registration for the revamped 2022 Firearms Industry Conference (FIC), to be held in Atlanta this April. All Federal Firearms Licensees (FFLs)...more
COVID has not only seen a migration of employees to remote work but has created a new business model that is here to stay. In the midst of COVID, employers were eager to allow their employees to work from home and maintain a...more
10/1/2021
/ Coronavirus/COVID-19 ,
Employer Liability Issues ,
Employment Tax ,
Income Taxes ,
Jurisdiction ,
Remote Working ,
Sales & Use Tax ,
State and Local Government ,
Tax Liability ,
Tax Planning ,
Wage and Hour ,
Withholding Tax
Please join us for the Winter Tax Forum to be held virtually on Wednesday, January 27, 2021.
...join Anna Derewenda, Jenny Connors, Farhad Aghdami, and Kyle Wingfield for our virtual tax forum where they will cover recent...more
President Donald Trump issued an Executive Order on August 8, 2020 allowing employers to defer withholding, depositing, and paying certain payroll tax obligations for their employees. On August 28, 2020, the Department of...more
Tax partners Stephanie Lipinski Galland and Kyle Wingfield summarize what you can do if you have not filed your state and local taxes or if you are unable to pay your tax bills due to the COVID-19 pandemic. Topics include...more
8/11/2020
/ Coronavirus/COVID-19 ,
Federal Taxes ,
Income Taxes ,
IRS ,
Local Taxes ,
Offer-in-Compromise ,
Payment Plans ,
Property Tax ,
Sales & Use Tax ,
Sales Tax ,
SALT ,
Sole Proprietorship ,
State and Local Government ,
State Taxes ,
Tax Authority ,
Tax Liability ,
Tax Planning ,
Tax Relief ,
Tax Returns ,
Voluntary Disclosure
On April 9, 2020, the Department of the Treasury (Treasury Department) and the Internal Revenue Services (IRS) issued Notice 2020-23, announcing that certain additional tax return filing and payment deadlines have been pushed...more
4/15/2020
/ Coronavirus/COVID-19 ,
Corporate Taxes ,
Federal Taxes ,
Filing Deadlines ,
Income Taxes ,
IRS ,
Popular ,
Relief Measures ,
Tax Extensions ,
Tax Returns ,
Time Extensions ,
U.S. Treasury
On March 31, 2020, the North Carolina Department of Revenue (NCDOR) announced that it is expanding tax relief as part of Governor Roy Cooper’s response to the COVID-19 outbreak.
Pursuant to the guidance, the NCDOR will not...more
In response to disruptions to Virginia taxpayers caused by the COVID-19 crisis, the Virginia Department of Taxation (the “Department”) has extended the deadline for Virginia taxpayers to pay their income taxes. This relief...more
Seminar Topics Include:
• Recession Planning Considerations
• Opportunity Zone Update
• State and Federal Administrative Updates
• Estate Planning Update...more
On July 1, 2019, President Trump signed the Taxpayer First Act, H.R. 3151, into law. The Act makes organizational changes to the Internal Revenue Service (the “IRS”) and implements reforms aimed at improving customer...more
On Friday, June 21, 2019, the Supreme Court of the United States ruled in North Carolina Department of Revenue v. Kimberley Rice Kaestner 1992 Family Trust that a state cannot tax a trust based only on a trust beneficiary’s...more
6/26/2019
/ Beneficiaries ,
Due Process ,
Estate Tax ,
Exclusive Control ,
Forum State ,
In-State Beneficiaries ,
Income Taxes ,
Minimum Contacts ,
North Carolina Department of Revenue v The Kimberley Rice Kaestner 1992 Family Trust ,
SCOTUS ,
State Taxes ,
Trust Distributions ,
Trustees ,
Trusts
The Virginia Department of Taxation issued guidelines for the new laws requiring remote sellers, marketplace sellers, and marketplace facilitators to register and collect Virginia sales and use taxes. (See Guidelines for...more
On June 19, 2018, the U.S. Supreme Court held, in a 5-4 decision written by Justice Kennedy, that states may require an out-of-state retailer to collect and remit sales tax on purchases by residents within that state. [South...more
6/25/2018
/ Appeals ,
Commerce Clause ,
Constitutional Challenges ,
Internet Retailers ,
Interstate Commerce ,
Out-of-State Companies ,
Physical Presence Test ,
Quill ,
Reversal ,
Sales & Use Tax ,
SCOTUS ,
South Dakota v. Wayfair ,
Substantial Nexus