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Freeman Law

Texas Franchise Tax Basics | Nexus

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If you own a business in Texas, you’ve likely encountered (for better or worse) the Texas franchise tax. The franchise tax is a tax imposed on any “taxable entity” that does business in Texas or that is chartered or...more

BakerHostetler

[Podcast] Deep in the Heart of Updated Texas Franchise Tax Sourcing Rules

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In mid-January, the Texas Comptroller issued controversial amendments to its franchise (margin) tax apportionment sourcing rules. Are the rules an administrative drift towards market-based sourcing? Matt Hunsaker breaks down...more

Kilpatrick

'Hyatt 3' Oral Argument And Potential State Tax Implications

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On Jan. 9, the United States Supreme Court heard oral argument in Franchise Tax Board v. Hyatt, a case addressing whether state agencies possess sovereign immunity from suit in sister state courts. Based on the oral argument,...more

K&L Gates LLP

Graphic Packaging Corporation v. Hegar: Texas’ Single-Factor Franchise Tax Apportionment Remains Mandatory

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The Texas Supreme Court recently held that taxpayers may not use the Multistate Tax Compact’s three-factor formula to apportion their Texas franchise tax base ? i.e., their “margin” ? in calculating their Texas franchise tax...more

Allen Matkins

California Continues Crackdown on 1031 Exchanges

Allen Matkins on

During the last several years, the California Franchise Tax Board (“FTB”) has been closely scrutinizing section 1031 exchanges, and finding section 1031 exchanges to be a fruitful area for state tax audits. While California...more

McNees Wallace & Nurick LLC

PA Tax Law News - February 2014

In This Issue: PA Governor's Budget Proposal Preserves Capital Stock/Franchise Tax Phase-out; Shopping Guides and Inserts; Documentation Requirements for Sales of Fuel Oil; Property Tax Notes; and PA Issues on Appeal -...more

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