State & local tax advisor: July 2015
Plante Moran’s State and Local Tax team issues periodic newsletters to keep you apprised of important state and local tax changes.
Read the full July 2015 SALT Advisor>>
Topics in this issue include:
Connecticut
- Governor signs budget that includes mandatory combined reporting and other tax changes
Indiana
- Tax amnesty to be continued in Fall 2015
- Electricity used by restaurants was exempt
Michigan
- Same-sex marriage recognized for filing
- State essential services assessment and alternative assessment provisions modified
- Certain personal property exemption provisions modified
- Industrial facility exemption extended
Minnesota
- Taxpayer not permitted to use MTC three-factor apportionment formula
New York
- Taxation of nonresidents' gain from asset sale constitutional
- Retroactive application of installment obligation sourcing provision upheld
Ohio
- Budget bill reduces personal income tax rates, extends small business tax exemption
- Budget bill enacts click-through nexus provision, creates new exemptions, and authorizes local taxes
- Guidance issued for returns of same-gender married couples
- Withholding guidance issued for employers of same-gender married employees
Read the full July 2015 State and Local Tax Advisor>>
The information provided in this alert is only a general summary and is being distributed with the understanding that Plante & Moran, PLLC is not rendering legal, tax, accounting, or other professional advice, position, or opinions on specific facts or matters and, accordingly, assumes no liability whatsoever in connection with its use.
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