SALT Alert - State Reactions to COVID-19 Alert | Apr 06, 2020 More About | Tax | State & Local Tax | COVID-19 As the Federal government continues to take action regarding the due date of Federal returns and tax payments, states are also reacting. While it seems evident that for Federal purposes many taxpayers will have until July 15, 2020 to file and pay their 2019 taxes, it is not yet known if or how certain states will follow suit. Many states base income tax due dates off of the Federal due date. These states include Alabama, Connecticut (individuals), Florida, Maine, Mississippi, Nebraska, New Mexico, Oregon, Pennsylvania, Rhode Island, Utah (individuals), and Vermont. Once it is certain the manner in which the Federal due date has changed (i.e. a statutory change through the CARES act or through an Executive Order / Treasury Proclamation), it will be important to examine the specific state statutes in order to determine if they follow the nature of the Federal change. From a practical perspective in traditional income tax states, each state’s due date should occur on or after the Federal due date. However, confirming the due date under the laws of each state will be necessary in order to protect taxpayers from unnecessary late filing penalties. Read More
Oregon Commercial Activities Tax On Gross Receipts Effective In 2020 Alert | Jan 31, 2020 More About | Tax | State & Local Tax | Risk & Regulatory On May 16, 2019, Oregon Governor Kate Brown signed House Bill 3427 into law, enacting a new Corporate Activity Tax (CAT) on entities doing business in the state beginning Jan. 1, 2020. The tax is in addition to the state’s current income tax obligation as revenue generated from the CAT will be used for education spending. The CAT applies to a “person” with commercial activity in excess of $1 million and has an annual calendar year return due April 15. The term “person” includes C corporations, S corporations, partnerships and entities that are disregarded for federal income tax purposes. Businesses otherwise operating on an alternate fiscal year are still required to file a return on a calendar year basis. Entities may be required to make estimated payments throughout the calendar year. Read More
Maryland Court Further Defines Activities Availed P.L. 86-272 Immunity Alert | Jan 31, 2020 More About | Baltimore, MD | Gaithersburg, MD | Tax | State & Local Tax | Risk & Regulatory The Maryland Court of Special Appeals held that gathering information on market opportunities and competitor activities at Maryland retail locations through periodic routine reports compiled by sales and account manager employees of an out-of-state business exceeded U.S. Public Law (P.L.) 86-272 (5 U.S.C. § 381(a)) protection in Blue Buffalo Company, Ltd. v. Comptroller of Treasury (Dec. 20, 2019). Read More
Wayfair’s Impact on States’ View of Nexus & Potential Sales Tax Burden on Technology Companies Webinar Recording | Virtual - Webinar More About | Atlanta, GA | Technology & Life Sciences | State & Local Tax | SALT Nexus The South Dakota vs Wayfair ruling leaves many companies with a greater sales tax compliance burden and can impact both sales and purchases. With each state’s requirements varying widely, technology companies will need to dedicate more time and resources to meet states’ taxability and reporting requirements. Read More
Wayfair – The Impact on Manufacturers Webinar Recording | Webinar More About | Manufacturing & Distribution | Tax | State & Local Tax | SALT Nexus The recent South Dakota vs Wayfair ruling will leave companies with a greater sales tax compliance burden and can impact both sales and purchases. Read More
Year End Tax Planning for Private or Small Businesses and Individuals Webinar Webinar Recording | Webinar More About | Generational Wealth Planning | Estate Tax Credits | Mergers & Acquisitions | Tax | Federal Corporate Tax | Tax Accounting | International Tax | Real Estate Tax | State & Local Tax | Cost Segregation | Sales and Use Tax | Research & Development Tax Credits | Transfer Pricing | Accounting Methods | Executive Compensation | Performance & Growth Year End Tax Planning for Private or Small Businesses and Individuals Webinar Read More