News & Analysis as of

State Legislatures Income Taxes

McDermott Will & Emery

California Legislatively Overturns Recent Office of Tax Appeals Taxpayer Win

The California State Legislature overturned Microsoft’s recent win at the Office of Tax Appeals, which held that the gross amount of dividends received from foreign affiliates outside its water’s-edge group should be included...more

Blank Rome LLP

South Carolina Legislature Severely Limits Department’s Ability to Force Companies to File Combined Returns

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Since the South Carolina Supreme Court held in Media General Communications, Inc. v. South Carolina Department of Revenue, 694 S.E.2d 525 (S.C. 2010), that the Department of Revenue (“Department”) had the authority to allow...more

Dentons

Iowa General Assembly – Legislative Session Week 14

Dentons on

The legislature picked up the pace in week 14 as a real push toward the end of session began. The House and Senate spent extensive time on the floor, working to clear their calendars—which included several controversial...more

Nelson Mullins Riley & Scarborough LLP

Gold Dome Report - Legislative Day 40 - March 2024

Legislative Day 40 is a roller coaster, full of ups, downs, and zero gravity turns (also known as conference committee reports). One goes from celebrating a bill achieving final passage to lamenting a measure being gutted...more

Nelson Mullins Riley & Scarborough LLP

Gold Dome Report - Legislative Day 37 - March 2024

Senate committee meetings continue under the Gold Dome as this report is published on Wednesday. With the Senate’s requirement that bills pass out of committee before the chamber convenes for Legislative Day 38, legislators...more

Eversheds Sutherland (US) LLP

Georgia’s 2024 legislative session: Major tax legislation moving forward

This year’s Georgia’s legislative session is quickly progressing, with some major tax legislation moving towards passage. Last Thursday, February 29, 2024 was “Crossover Day”—the 28th legislative day of 40 total legislative...more

Nelson Mullins Riley & Scarborough LLP

Gold Dome Report - Legislative Day 29 - March 2024

While legislators and lobbyists continued to nurse the hangover of Crossover Day, the most unlikely of events unfolded in the Georgia State Senate on Monday. Senate Majority Leader Steve Gooch (R-Dahlonega) awarded the...more

Nelson Mullins Riley & Scarborough LLP

Gold Dome Report - Legislative Day 28 - March 2024

Thursday carried several distinctions under the Gold Dome. It was Leap Day, the quadrennial opportunity to celebrate those born on Feb. 29. It was Crossover Day, the day we all have to explain to our significant others each...more

Brownstein Hyatt Farber Schreck

Tax Measures Once Again Loom Large— What to Expect on the November 2023 Ballot

The November 2023 election is quickly approaching and brings with it another round of tax—particularly property tax measures—that will soon be put to Colorado voters. And, if what has already been filed is any indication,...more

McDermott Will & Emery

Be Careful What You Wish For: Minnesota May Be on the Precipice of Enacting Worldwide Combined Reporting at the Worst Possible...

It has been widely reported that the Minnesota Legislature has advanced an omnibus tax bill that would require the inclusion of the “entire worldwide income” of combined corporate income tax filers engaging in a unitary...more

Winthrop & Weinstine, P.A.

Legislative Top 5 - March 2023 #2

First Legislative Deadline - Today marks the first deadline that legislation must meet in order to be considered this session. By today, bills must be heard in committee in their chamber of origin (this deadline generally...more

Lewis Roca

Review of 2022 Arizona Tax Highlights

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ARIZONA TO IMPLEMENT 2.5% FLAT TAX AHEAD OF SCHEDULE - Governor Doug Ducey announced that Arizona will implement its new 2.5% flat income tax rate on January 1, 2023, a full year ahead of schedule. According to Gov. Ducey,...more

Brownstein Hyatt Farber Schreck

Colorado’s 2022 Ballot Certified—So What’s on It?

The statewide ballot for Colorado is set. This past week, Secretary of State Jena Griswold officially certified the state’s ballot for the Nov. 8, 2022, election. In addition to the candidates for state and local offices,...more

Alston & Bird

Looking Back at Georgia’s 2022 Legislative Session

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Georgia’s 2022 legislative session included a number of consequential tax bills. Our State & Local Tax Group highlights key takeaways. What passed: rate cuts and elective consolidation. What didn’t pass: revisions to the film...more

Steptoe & Johnson PLLC

West Virginia Legislature Passes Bill Changing Oil and Gas Property Tax Valuation Methodology

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On Friday, March 11, 2022, the West Virginia Legislature passed H.B. 4336, which changes the methodology the State Tax Commissioner utilizes for oil and gas property tax valuation. ...more

Nelson Mullins Riley & Scarborough LLP

Gold Dome Report — Legislative Day 15 2022

The General Assembly took a half day on Friday after a full week of floor debates and committee proceedings. Although the House and Senate addressed a collective six measures on their floors, legislators made quick work of...more

Nelson Mullins Riley & Scarborough LLP

Gold Dome Report – Legislative Day 12 2022

The floors of the House and Senate were busy today as legislators quickly got back to work after the three-day weekend. The Senate took up several weighty measures, including SB 338, which would expand Medicaid coverage for...more

Dentons

Iowa 2022 Legislative Session – Week 4

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Week four brought more bill introductions and the continued rapid pace of committee work. We are now two weeks from the second funnel deadline, February 18. Over the next two weeks, committee work will continue with bills...more

Bradley Arant Boult Cummings LLP

Important Tax Legislation to Watch in the 2022 Alabama Regular Session

Because 2022 is an election year, the start date for the Alabama Legislature’s regular session comes early: Tuesday, January 11. As we do annually, here are some unofficial prognostications on the major items of tax...more

Smith Anderson

Finance Provisions of the 2021 Budget Bill

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On November 15, 2021, after months of negotiations and four and a half months into the new fiscal year, the North Carolina General Assembly released Senate Bill 105, its proposed budget bill (the "Bill"). Both Chambers...more

Brooks Pierce

Brooks Pierce Capital Dispatch: Updates from the NC General Assembly and Governor’s Office - June 2021 #2

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This week, Legislators worked on the budget bill and considered other bills. State Budget Bill - House and Senate leaders this week announced an agreement for state budget spending caps for fiscal years 2022 and 2023....more

Brooks Pierce

Brooks Pierce Capital Dispatch: Updates from the NC General Assembly and Governor’s Office - May 2021 #2

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This week, legislators considered dozens of bills as they worked to pass versions in one chamber prior to the crossover deadline. Crossover and Bill Filing Deadline - Legislators left Raleigh this week after working...more

McDermott Will & Emery

Kansas Decouples from GILTI and 163j

Yesterday afternoon the Kansas legislature overrode Governor Laura Kelly’s veto of Senate Bill (SB) 50, effectively enacting the provisions of the bill into law. Among those are provisions decoupling from certain Tax Cuts and...more

Perkins Coie

Washington’s New 7% Capital Gains Tax Questions Answered

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The Washington Legislature passed Senate Bill 5096 on April 25, 2021, the last day of the 2021 Washington legislative session. SB 5096 is a state capital gains tax on individual residents of the State of Washington. The state...more

Brooks Pierce

Brooks Pierce Capital Dispatch: Updates from the NC General Assembly and Governor’s Office - April 2021 #4

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This week, Gov. Roy Cooper issued a new Executive Order lifting many COVID-19 restrictions and legislators considered a number of bills.                   Order Loosens COVID-19 Restrictions - This week, Gov. Roy...more

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