August 01, 2017
After months of closed-door meetings on tax reform, the Big Six—a working group of Republican leaders that includes Secretary of Treasury Steven Mnuchin, National Economic Council Director Gary Cohn, Speaker of ...
October 19, 2018
Treasury and IRS have released the first set of proposed regulations on the new Qualified Opportunity Zone (QOZ) tax incentives created by the Tax Cuts and Jobs Act (TCJA). The proposed regulations clarify ...
January 28, 2019
On July 1, 2018, New Jersey enacted legislation (Assembly Bill A4202) requiring the combined reporting for members of an affiliated group. The combined group is defined as a group of companies (1) with common ownership, (2) engaged ...
January 28, 2019
The current version of the Texas franchise tax was enacted effective for reports filed beginning in 2008. Although the tax base was changed dramatically for 2008, the method of apportioning the tax base was left ...
March 07, 2019
The U.S. Supreme Court has decided to hear a significant case regarding the limits on the state income taxation of trusts. The controversy stems from a state seeking to impose income tax ...
April 24, 2019
On April 17, 2019, Treasury and IRS released a second set of proposed regulations (the New Proposed Regulations) with respect to Qualified Opportunity Zones (QOZs). The New Proposed Regulations clarify a number of requirements for ...
June 19, 2019
IRS and Treasury have released final and proposed regulations regarding the new global intangible low-taxed income (GILTI) regime. Both sets of regulations provide guidance on determining the amount of GILTI included in the ...
June 21, 2019
North Carolina was prohibited under the U.S. Constitution from taxing trust income based solely on the trust beneficiary’s residence, the U.S. Supreme Court ruled in a unanimous decision. States ...
June 27, 2019
California Senate Bill 378 (S.B. 378), a proposal to revive California’s gift, estate and generation-skipping transfer tax, will not likely pass this year. The bill included a 40% tax on California estates above ...
June 28, 2019
The Multistate Tax Commission (MTC) continues to expand its state audit capacity. Taxpayers may manage increasing audit exposure by taking steps to assess their current level of compliance and then participating in voluntary ...
