State & Local
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May 23, 2024
Ohio Bill Seeks Refundable Credit For Property Taxes, Rent
Households in Ohio with $60,000 or less in annual income would be able to claim a refundable income tax credit for the cost of their property taxes or for 15% of their rent under a bill introduced in the Senate.
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May 23, 2024
Conn. Requires Study Of Uniform Tax On Solar Facilities
Connecticut will have the state's Department of Energy and Environmental Protection study whether it should create a uniform capacity tax on solar facilities as part of a bill signed by the governor.
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May 23, 2024
Corp. Tax Rate Should Hold, GOP Former Panel Chair Says
Lawmakers should preserve the Tax Cuts and Jobs Act's nonexpiring provisions, specifically the 21% corporate tax rate, when debating the extension of the law's expiring provisions in 2025, former House Ways and Means Committee Chairman Kevin Brady said Thursday.
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May 23, 2024
NY Panel OKs Allowing Anyone To Rep Clients At Tax Tribunal
New York would allow taxpayers to choose anyone age 18 and older to represent them in the state Tax Appeals Tribunal, including a registered tax preparer, under a bill passed in the Assembly Ways and Means Committee.
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May 23, 2024
Colo. To Allow Fire, Ambulance Districts To Levy Sales Taxes
Colorado fire and ambulance districts will be able to levy local sales taxes, with voter approval, and impose impact fees on new construction under legislation signed by Democratic Gov. Jared Polis.
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May 23, 2024
Idaho Revenue Through April Up $89M Over Forecasts
Idaho general revenue collection from July through April was up $89 million over budget forecasts, the state Division of Financial Management reported.
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May 23, 2024
Akerman Brings On Kilpatrick Tax Ace In LA
Akerman LLP is boosting its tax team, bringing in a Kilpatrick Townsend & Stockton LLP corporate tax and energy tax credit expert as a partner in its Los Angeles office.
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May 22, 2024
Justices' CFPB Alliance May Save SEC Courts, Not Chevron
A four-justice concurrence to the U.S. Supreme Court's decision upholding the Consumer Financial Protection Bureau's unique funding scheme last week carries implications for other cases pending before the court that challenge the so-called administrative state, or the permanent cadre of regulatory agencies and career government enforcers who hold sway over vast swaths of American economic life.
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May 22, 2024
Tenn. To Align With Tax Pact For Sales And Use Tax Sourcing
Tennessee will implement several state sales and use tax changes starting July 1, including adopting sourcing provisions in line with the Streamlined Sales and Use Tax Agreement, as part of legislation enacted last year, the state Department of Revenue said in a notice published Wednesday.
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May 22, 2024
SC Increases, Expands Tax Credit For Employing Apprentices
South Carolina increased an individual and corporate income tax credit available to taxpayers that employ apprentices and expanded when credits may be claimed, under legislation signed by the governor.
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May 22, 2024
Colo. Gambling Tax Refund Question Heading To Ballot
Colorado will allow voters to decide if the state should keep and spend sports betting tax revenue or refund it back to casinos as part of a bill signed into law by Democratic Gov. Jared Polis.
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May 22, 2024
DC Empty Building Not Eligible For Tax Exemption, Court Says
The owner of a vacant building in Washington, D.C., can't claim an exemption from the district's vacant building property tax rate because the owner claimed the exemption outside the allowed two-year period, the district's highest court ruled.
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May 22, 2024
Fla. Dept. Owes Biz $1.2M In Interest, Fuel Supplier Tells Court
The Florida Department of Revenue owes a 7-Eleven fuel supplier $1.2 million in interest on a refund of a duplicate tax assessment the department was ordered to pay, the supplier told a state court.
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May 22, 2024
Minn. Lawmakers OK Family Leave Payroll Tax Boost
Minnesota would raise the payroll premium for its yet-to-begin paid family and medical leave program under a bill passed by state lawmakers in the final hours of their session.
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May 22, 2024
SC Expands Abandoned Building Credit, Adds Railroad Credit
South Carolina expanded its tax credit for the revitalization of abandoned buildings and provided an income tax credit for railroad reconstruction under a bill signed by the governor.
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May 22, 2024
SC General Revenue Through April Up $333M From Last Year
South Carolina's general revenue collection from July through April was up $333 million from last year, the state Board of Economic Advisors reported.
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May 22, 2024
ND General Fund Revenue Up $264M From Forecast
North Dakota general revenue collection from July through April was up $264 million from budget estimates, the state's Legislative Council reported.
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May 22, 2024
NYC's Proposed Split From State Tax Regs Sparks Pushback
New York City's plan to have its coming corporate tax overhaul regulations diverge from certain areas in the state's rules has drawn criticism from practitioners who say the proposals could increase compliance burdens and cut against the underlying law's intent to apply market-based sourcing.
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May 22, 2024
Ariz. General Revenues Through April Top Forecast By $120M
Arizona general revenue fund from July through April was $120 million higher than forecasts, the state Joint Legislative Budget Committee reported.
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May 22, 2024
Colo. Extends And Ups Conservation Easement Tax Credit
Colorado will extend and increase the amount available for its conservation easement tax credit under legislation signed by the governor.
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May 21, 2024
SC Justices Urged To Review $12.5M Amazon Tax Dispute
South Carolina's highest court should review an appeals court's opinion that Amazon was required to collect and remit sales tax on products sold on its marketplace in 2016 and owes the state $12.5 million in tax, according to amicus briefs Law360 obtained Tuesday.
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May 21, 2024
Wash. Justices Seem Split On Funds Getting Biz Tax Breaks
The Washington Supreme Court appeared divided on Tuesday over whether precedent means a group of funds are eligible for a business tax deduction on investment income, with one justice suggesting a previous ruling did not mesh with state tax law.
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May 21, 2024
Nixing Green Energy Tax Perks Would Be Tough For Trump
Former President Donald Trump has vowed to scrap Democrats' signature 2022 climate law should he get reelected in November, but following through on that campaign promise could prove difficult amid bipartisan support for many of the law's clean energy tax incentives and a potentially divided Congress.
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May 21, 2024
Nev. Commission Floats Regs To Implement Tax On Cannabis
Nevada would establish requirements for implementing the state's excise tax on cannabis that would apply to products obtained or bought by a "cannabis consumption lounge" and would clarify tax reporting rules for retail sales of cannabis under regulations proposed by the state Tax Commission.
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May 21, 2024
CohnReznick Adds PwC Partner To International Tax Practice
CohnReznick has a new principal in its international tax practice who previously served as a partner at PwC, the firm announced.
Expert Analysis
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Football In Florida, Chips In New York: SALT In Review
From the tax implications of an NFL star's relocation in Miami to the incentives that lured a chipmaker to upstate New York, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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Internet Gaming Biz Hit The Jackpot With Wire Act Ruling
A Rhode Island federal court's order in IGT v. Garland last month — siding with the First Circuit's interpretation of the Wire Act and confirming it applies only to sports betting — opens up opportunities for interstate online gaming and gambling, which will entail harmonized regulation and taxation regimes, say attorneys at Blank Rome.
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The CHIPS Act: Key Takeaways For Semiconductor Industry
The Biden administration’s recently signed CHIPS Act signals that the U.S. is making progress toward bolstering the domestic semiconductor industry, and manufacturers must prepare by understanding the requirements of the act and associated Department of Commerce guidance, say attorneys at Miller & Chevalier.
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Groceries In SD, Streaming Services In Illinois: SALT In Review
From the South Dakota governor's proposed grocery exemption to the defeat of a tax on streaming services in Illinois, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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Digital Taxation Is Necessary, But Tough To Manage
The U.S. government has started to tackle complex new tax laws as the digital economy continues to grow, but this demands guidelines that will facilitate the growth while protecting investors and the government's finances, say attorneys at Cadwalader.
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Whistleblowers Will Be Key To Curbing Cannabis Fraud In NY
As New York begins accepting license applications for its legal marijuana market, qui tam suits brought by whistleblowers under the New York False Claims Act will be a valuable tool for safeguarding the integrity of the developing industry, especially with regard to combating tax fraud, say Max Rodriguez and Sidney Cobb at Pollock Cohen.
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Tax Cuts Proposed In Fla., Vetoed In Calif.: SALT In Review
From Florida's proposed $1.1 billion in tax cuts to the California governor's veto of a business exemption, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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On And Off The Books: SALT In Review
From a ruling in South Carolina on the taxing of a bookseller's membership club sales to Louisiana's consideration of repealing its income taxes, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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Third-Party Sellers And A Redistribution Tax: SALT In Review
From a Pennsylvania ruling on third-party sellers to an Oregon proposal that would tax businesses and give the money to citizens, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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3rd Time May Be The Charm For Florida Cannabis Legalization
After two unsuccessful attempts at legalizing adult-use cannabis in Florida, strong electoral support combined with significant financial backing for a recently approved constitutional ballot initiative may finally result in success, say Ashlee Tising and Jonathan Robbins at Akerman.
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What AML Bill Could Mean For Firms, Funds And FinCEN
If passed, an amendment within Congress’ annual defense bill would expand the list of institutions subject to anti-money laundering regulations, from law firms to investment funds, creating potential rulemaking and enforcement challenges for the Financial Crimes Enforcement Network, say attorneys at Arnold & Porter.
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Kentucky Tax Talk: What's Next For Bourbon Barrel Revenue
By creating the Bourbon Barrel Taxation Task Force to help Kentucky regain a competitive edge in the state’s signature industry, the General Assembly has recognized the need to lessen the burden on distillers without causing detrimental harm to local revenue, say attorneys at Frost Brown.
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Tax Credits For Empty Garages In Calif.: SALT In Review
RSM's David Brunori offers his thoughts on noteworthy state and local tax news, starting with California's planned tax credits for households without cars.