News & Analysis as of

State Taxes Small Business

Baker Donelson

SALT Select Developments - April 2024

Baker Donelson on

State and local taxes impact almost every taxpayer, and developments in any one jurisdiction can be frequent and sometimes confusing. ln this newsletter edition, we will briefly summarize selected state and local tax (SALT)...more

WilmerHale

State Taxation of Qualified Small Business Stock: Federal Tax Exclusion Not Always Replicated at State Level

WilmerHale on

In the event of an M&A transaction, many stockholders plan to take advantage of the exclusion from federal taxable income of gain realized from the sale or exchange of “qualified small business stock” (QSB stock). Section...more

McDermott Will & Emery

Weekly IRS Roundup July 11 – July 15, 2022

McDermott Will & Emery on

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of July 11, 2022 – July 15, 2022. Additionally, for continuing updates on the tax impact of COVID-19,...more

Mitchell, Williams, Selig, Gates & Woodyard,...

COVID-19 Guidance for Texas Businesses

In response to the COVID-19 pandemic, the Texas Governor’s Business and Community Development Division has published helpful frequently asked questions for local small businesses and community economic development partners to...more

Foley & Lardner LLP

Coronavirus Impact on State Tax Reporting

Foley & Lardner LLP on

While the federal government has postponed Tax Day from April 15 to July 15, state tax agencies are not consistently following the federal extended due date for a myriad of reasons ranging from cash flow constraints to...more

Troutman Pepper

Pennsylvania Tax Updates

Troutman Pepper on

Inheritance Tax Exemption for Small Businesses - Pennsylvania recently passed 72 P.S. § 9111(t), specifically aimed at eliminating the Pennsylvania inheritance tax on small family-owned businesses. The Pennsylvania...more

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