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Bradley Arant Boult Cummings LLP

Governor Signs PTE Tax Simplification Bill into Law

On Thursday, April 25, Gov. Kay Ivey signed into law House Bill 187, now Act 2024-113.  We thank Governor Ivey for her support of this bill, as well as the Department of Revenue and Commissioner Barnett for their efforts...more

Bradley Arant Boult Cummings LLP

ADOR Grants Extension to Make PTE Tax Election for 2021 Tax Year

Readers may recall that the Alabama Legislature unanimously enacted an elective pass-through entity tax (PTE Tax) last year as a workaround to the so-called “SALT Cap,” which was part of the Tax Cuts and Jobs Act of 2017. The...more

Bradley Arant Boult Cummings LLP

Where Are We On The New Elective PTE Tax Regime?

Earlier this year, Alabama became one of 19 or so states to enact a pass-through entity tax as a workaround to the so-called "SALT Cap" enacted as part of the Tax Cuts and Jobs Act of 2017, which limits the deductibility of...more

BakerHostetler

[Podcast] NJ Nexus Initiative & Seattle Payroll Tax Update

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New Jersey is coming after taxpayers for years before 2019 based on information on combined group reports. From June 15 to October 15, 2021, the state will be offering certain benefits to taxpayers who come forward for years...more

Freeman Law

State and Local Tax Voluntary Disclosure

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This article is the second of a three-part series regarding the State and Local Tax consequences of doing business in multiple states.  This article will discuss Voluntary Disclosure, Part 1 discussed Nexus and Part 3 will...more

BakerHostetler

Did the IRS Bless the Passthrough Entity Workaround to the $10K SALT Cap?

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For three years, states and taxpayers have been looking for novel ways to get around the federal TCJA's $10,000 cap on deducting state and local taxes. The IRS just released Notice 2020-75, which appears to bless states'...more

BakerHostetler

Bad Debts - A State Income & Sales Tax Perspective

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It's no mystery that when times are hard, bad debts skyrocket. But how do businesses handle bad debts for state income and sales tax purposes? Matt Hunsaker hits the high points in this week's episode....more

Williams Mullen

Williams Mullen's Comeback Plan: Part I – State & Local Tax (SALT) Compliance During COVID-19: What to Do When You’re Behind

Williams Mullen on

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

Morgan Lewis

State And Local Tax Responses To Covid-19 (UPDATED)

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Alabama: The Alabama Commissioner of Revenue has issued a series of orders. On March 18, 2020, the commissioner ordered that late payment penalties are waived for small retail businesses whose monthly retail sales during...more

Farrell Fritz, P.C.

C’mon New York, Give Me Some Credit

Farrell Fritz, P.C. on

The State of NY Tax- Last week, New York’s Governor Cuomo released his proposed budget for the State’s 2021 fiscal year. After criticizing the Federal limitation on itemized deductions for state and local taxes, the Governor...more

McAfee & Taft

Every action has a reaction, even in the tax world - Gavel to Gavel

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The Tax Cuts and Jobs Act of 2017 limited the state and local taxes paid deduction available to individual taxpayers to $10,000. The deduction is most notably taken by Oklahomans on their federal tax return to deduct state...more

McDermott Will & Emery

Weekly IRS Roundup July 29 – August 2, 2019

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of July 29 – August 2, 2019. July 30, 2019: The IRS issued a list of answers to frequently asked...more

Foster Garvey PC

Oregon’s New Corporate Activity Tax

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We are taking a break from our multi-post coverage of Opportunity Zones to address a recent, significant piece of Oregon tax legislation. On May 16, 2019, Governor Kate Brown signed into law legislation imposing a new...more

Pierce Atwood LLP

Maine Revenue Services Alerts Taxpayers That Amended 2017 Returns May Be Required

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Maine Revenue Services (MRS) issued guidance late last week responding to the state’s recently-enacted tax conformity legislation. ...more

McDermott Will & Emery

Taxpayers May Not Prepay Income Tax to Avoid Cap on SALT Deduction

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The federal tax reform package recently approved by Congress (the Bill) contains a cap on the state and local tax deduction that may be claimed by individuals on their federal income tax returns. The Bill provides that an...more

Bradley Arant Boult Cummings LLP

State & Local Tax Alert: Alabama Edition - November 1st, 2013

The Alabama Department of Revenue has just finalized its new local nexus regulation, Ala. Admin. Code Rule 810-6-5-.04.02, that will apply to transactions occurring on or after January 1, 2014, following its rule-making...more

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