February 10, 2022
California Expands SALT-Cap Workaround; Eliminates NOL Suspension and $5 Million Credit Limitation
Tax legislation (S.B. 113) signed by Governor Gavin Newsom makes several important tax changes, including expanding the availability and benefit of the state’s pass-through entity (PTE) tax credit, with most provisions ...
October 08, 2021
Democrats’ House Ways and Means Committee Tax Proposals Include Hidden Exposures for U.S. Individuals With Cross-Border Income
The legislative text approved by the House Ways and Means Committee on September 15, 2021 includes several tax changes impacting individual taxpayers with increases generally applying to those with income exceeding a threshold amount. While ...
October 06, 2021
How to Leverage a Reverse Audit to Uncover Tax Refunds, Identify Areas of Exposure and Improve Compliance Systems
Businesses routinely submit to audits by state and local taxing jurisdictions aimed at identifying and collecting underpayments of sales and use taxes or gross receipts taxes. However, a more proactive approach is necessary ...
October 06, 2021
New York City Commercial Rent Tax - Is Free Rent Free?
“There’s no such thing as a free lunch,” the old adage says. But could there be such a thing as Free Rent? That is the crux of the recent ...
October 06, 2021
States End COVID-19 Tax Relief as Pandemic and Work-From-Home Arrangements Continue, Creating Liability Risks for Employers
As the COVID-19 pandemic and work-from-home arrangements continue, state and local jurisdictions are ending the temporary tax relief granted in 2020 for employees working in their jurisdiction. An employer with remote employees that ...
August 30, 2021
Understanding the Reconciliation Process - Planning for Potential Tax Law Changes
The stage is set for Democrats to attempt to advance their reconciliation legislative package (reconciliation package), which is expected to include significant corporate and individual tax changes to fund policy priorities proposed by ...
August 10, 2021
Senate Approves Bipartisan Infrastructure Legislation; Releases Budget Resolution Framework
The Infrastructure Investment and Jobs Act approved by the Senate on August 10, 2021 would provide federal funds for public transit, roads, bridges, water and other infrastructure-related items over the next several years. The legislation ...
July 19, 2021
California and Arizona Join States With SALT Cap Workarounds
In response to the federal state and local tax (SALT) deduction $10,000 cap enacted as part of the Tax Cuts and Jobs Act (TCJA), California Governor Gavin Newsom signed budget legislation (A.B. 150) that ...
July 01, 2021
The Multistate Tax Commission – the Most Influential State Tax Policymaker You May Have Never Heard Of
One of the most influential sources of policymaking in the state tax law arena is not a state legislature, court, or executive agency. It is the Multistate Tax Commission (MTC or Commission), a ...
July 01, 2021
Maryland’s New Digital Advertising Tax Draws Legal Challenges; Other States Propose Similar Measures
Maryland recently became the first state to impose a tax on gross revenue from digital advertising, which is set to take effect on January 1, 2022. Over the past year, similar legislative proposals have been ...