State & Local
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June 04, 2024
Calif. OTA Denies Couple Extra Worthless Stock Deduction
A California couple failed to demonstrate that they were entitled to a greater income tax deduction for worthless stock than the state Franchise Tax Board allowed, the state Office of Tax Appeals said in an opinion released Tuesday.
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June 04, 2024
W.Va. Revenue Through May Up $618M From Estimates
West Virginia revenue collections from July through May were $618 million over government estimates, according to the state Budget Office.
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June 04, 2024
Calif. OTA Rejects Couple's Claim Of Bolivia Residency
A California couple owes additional state income tax on a retirement account distribution, the state Office of Tax Appeals said in an opinion released Tuesday, rejecting the pair's assertion that they were domiciled in Bolivia at the time.
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June 04, 2024
Colo. Orders Disclosure Of Info On Local Property Tax Levies
Local jurisdictions in Colorado will be required to provide certain information about their property tax levies under legislation signed into law by Democratic Gov. Jared Polis.
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June 03, 2024
Treasury Aims To Salvage Corp. Transparency Act At 11th Circ.
The Corporate Transparency Act is a valid exercise of congressional authority to curb money laundering under the commerce clause and the necessary and proper clause in the Constitution, the U.S. Treasury Department told the Eleventh Circuit on Monday in a bid to restore the law's reporting requirements.
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June 03, 2024
Missouri Judge OKs Cannabis Tax By Both City And County
Both a city in Missouri and the county that surrounds it can collect a tax on marijuana dispensaries, a state circuit judge found.
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June 03, 2024
RI Panel OKs Providence Unrestricted Property Tax Rates
Rhode Island would allow the city of Providence to adopt a classification system that allows for unrestricted tax rates for the city's property classes under a bill moved to the Senate floor for consideration.
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June 03, 2024
Pa. Bill Seeks Broader Discount For Timely Sales Tax Filers
Pennsylvania would expand a discount for businesses that file sales and use tax on time under a bill introduced in the state Senate.
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June 03, 2024
Ohio Floats Draft Rule For Administration Of Cannabis Tax
Ohioans who pay cannabis tax would be able to file for a refund of erroneously paid taxes by filling out a form with the state tax commissioner, the Department of Taxation clarified in a draft rule.
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June 03, 2024
Colo. Creates Income Tax Credit For Eligible Care Workers
Colorado is creating an income tax credit for care workers totaling $1,200 for individuals and $2,400 for joint filers starting next year as part of a bill signed by Democratic Gov. Jared Polis.
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June 03, 2024
DC Settles Tax Fraud Suit Against Tech Co. Founder For $40M
The District of Columbia will collect $40 million from the founder of a technology and bitcoin holding company to settle a whistleblower complaint that alleged tax fraud, the district's attorney general said Monday.
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June 03, 2024
Taxes Take Center Stage In Pot Industry Amid Fed. Policy Shift
The federal government's move to loosen restrictions on cannabis is expected to trigger a wave of mergers and acquisitions structured as asset deals in the industry, especially among struggling retail operations willing to restructure in order to raise profits and lower their tax liabilities.
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June 03, 2024
Conn. To Require Interest Waivers For Some Delinquent Taxes
Connecticut will require municipal tax collectors to waive interest on delinquent property taxes when the delinquency is determined to be due to a mistake by a tax collector or assessor and not the taxpayer's fault under a bill signed by the governor.
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June 03, 2024
Ohio Property Sale Price Not Timely Enough To Raise Value
An Ohio property made up of four lots was properly valued and should not have its value increased based on a 2017 sale, because the sale was not timely, the state Board of Tax Appeals ruled.
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June 03, 2024
La. Tax Board Granted Authority To Call Virtual Hearings
The Louisiana Board of Tax Appeals is now able to hold virtual hearings under a bill signed by the governor.
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June 03, 2024
Minn. Tax Court Lowers Home Value Over Native Burial Mound
The valuation of a lakeside parcel including a legally protected Native American burial mound must be lowered because a split of the property as envisioned by assessors would have been unlikely to gain the needed approvals, the Minnesota Tax Court said.
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June 01, 2024
Blockbuster Summer: 10 Big Issues Justices Still Must Decide
As the calendar flips over to June, the U.S. Supreme Court still has heaps of cases to decide on issues ranging from trademark registration rules to judicial deference and presidential immunity. Here, Law360 looks at 10 of the most important topics the court has yet to decide.
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May 31, 2024
Fla. To Allow Reimbursement Of Trust Owners For Taxes Paid
Florida will allow fiduciaries to reimburse owners of certain trusts for income taxes paid under a bill signed by Republican Gov. Ron DeSantis.
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May 31, 2024
Colo. Establishes Middle-Income Housing Tax Credits
Colorado is creating a pilot program to provide a tax credit for developers of housing aimed at middle-income residents under a bill signed into law by Gov. Jared Polis.
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May 31, 2024
Water Services Co. Asks NJ Court For $1.3M Sales Tax Refund
A water services company told the New Jersey Tax Court it was wrongly denied a sales and use tax refund of nearly $1.3 million, saying its claims were timely filed and the transactions at issue were not taxable.
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May 31, 2024
Calif. High Court Affirms Biz Transfer Was Ownership Change
A California corporation that transferred its ownership of two grocery stores to a trust that held all the corporation's voting stock constituted a change in the properties' ownership, allowing their assessed value to be doubled to $10 million, the state's top court affirmed.
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May 31, 2024
Calif. Tax Director Sees AI Aiding Tax Administration
Nicolas Maduros, as director of the California Department of Tax and Fee Administration, is leading an effort to modernize sales tax administration through the use of artificial intelligence. He's also president of the board of trustees of the Federation of Tax Administrators. Law360 spoke to him about both roles.
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May 31, 2024
Colorado Enacts $700M Child Tax Credit
Colorado created a child tax credit worth about $700 million annually under legislation signed Friday by Democratic Gov. Jared Polis.
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May 31, 2024
La. Sets Tax Dept. Notice Requirement For Foreign Biz
Louisiana will require the state's Department of Revenue to send notices to taxpayers outside the U.S. through first-class international mail with electronic delivery confirmation under a bill signed by the governor.
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May 31, 2024
La. To Offer Sales Tax Rebates For Lithium Recovery
Louisiana will create a temporary rebate program for sales tax paid by companies for equipment, material or machinery purchased for lithium recovery projects as part of a bill signed by the state's governor.
Expert Analysis
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Kentucky Tax Talk: Pros, Cons Of The SALT Cap Workaround
Recent legislation that allows pass-through entities to be taxed at the entity level — Kentucky’s response to the federal cap on state and local tax deductions — could result in significant savings for taxpayers, but whether it applies to sole proprietorships and other aspects of the law are unclear, say attorneys at Frost Brown.
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Big Tax Changes For Multinational Cos. In Budget Proposal
The Biden administration’s fiscal year 2024 budget proposes changes that would materially alter decades-old Internal Revenue Code provisions, requiring a shift in multinational corporations' tax planning strategies comparable to that required after enactment of the Tax Cuts and Jobs Act, say Xenia Garofalo and Kyle Colonna at Eversheds Sutherland.
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Home Seized, Tax Paid, Government Enriched: SALT In Review
From a Minnesota county's profit on a home seizure to a California proposal to raise corporate income taxes, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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Mich. Statute Of Limitations Cases Carry Nationwide Impacts
The outcomes of Dine Brands v. Eubanks and Walt Disney v. Eubanks, currently working their way through the Michigan courts, are likely to affect how statutes of limitations in unclaimed property audits are calculated nationwide as well as within the state, given the widespread adoption of similar model provisions by many other states, say attorneys at McDermott.
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Wash. Fallout And New York Pets: SALT In Review
From the early fallout of Washington state's capital gains ruling to a proposed tax credit for adopting pets in New York, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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Inside Calif.'s New Unclaimed Property Compliance Program
As California gears up to launch its voluntary compliance program for taxpayers with unreported property owed to the state, eligible holders should be aware of kinks that may initially arise and of potential audit risks, say attorneys at Alston & Bird.
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Missouri's Big Idea And NY's Online Thought: SALT In Review
From a Missouri bill that could eventually end the state's corporate income tax to a proposed tax on online deliveries in New York City, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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9th Circ. Ruling Legitimizes Classwide Injury In Predominance
The Ninth Circuit's recent ruling that vacated class certification in Van v. LLR makes clear that the question of injury is highly relevant to the predominance analysis, and underscores the importance of making a persuasive argument that injury is individualized within the class, say attorneys at Skadden.
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Ohio Tax Talk: Tax Amendments In Operating Budget Proposal
Starting in 2023, the Ohio House of Representatives' budget bill would amend sales and use, income, and commercial activity tax provisions, so individuals and businesses must monitor its progression, considering the revisions could carry consequences or liability for taxpayers, say Raghav Agnihotri and Rachael Chamberlain at Frost Brown.
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A Tale Of 2 State Tax Sourcing Decisions: The Pa. Court's Path
The Pennsylvania Supreme Court’s recent decision in Synthes v. Commonwealth appropriately effectuated the Legislature's intent that ambiguous provisions in Section 17 of the Uniform Division of Income for Tax Purposes Act be construed to reflect the marketplace for the taxpayer's services, says Bruce Fort at the Multistate Tax Commission.
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A Tale Of 2 State Tax Sourcing Decisions: The Va. Court's Path
The Virginia Supreme Court's textualist approach in Department of Taxation v. R.J. Reynolds diverges from a recent Pennsylvania Supreme Court analysis and mistakenly precludes consideration of the goals and history underlying provisions of the Uniform Division of Income for Tax Purposes Act, says Bruce Fort at the Multistate Tax Commission.
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Digital Ads And Electric Vehicles: SALT In Review
From the latest move toward a tax on digital advertising to a proposed tax on the charging of electric vehicles, RSM's David Brunori offers his thoughts on noteworthy state and local tax news.
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Could The Supreme Court Legalize Marijuana Federally?
Amid slow legislative and executive movement on cannabis reform, it’s worth examining whether the U.S. Supreme Court could provide a pathway to federal cannabis legalization — a decision that would surely require strange bedfellows given the court’s current ideological makeup, say Whitt Steineker and Mason Kruse at Bradley Arant.