State & Local Tax advisor - November 2015
Here are the latest and greatest state and local tax updates, including IL, LA, MI, MO, NC, OH, TN and VT.
Plante Moran’s State & Local Tax team issues periodic newsletters to keep you apprised of important state and local tax changes. Topics in this issue include:
Illinois
- Sourcing of Employee Compensation and Credit for Taxes Paid Discussed
- Governor Reinstates Approval Procedures for Film and EDGE Tax Credits
- Chicago Lease Tax on Nonpossessory Computer Leases and Cloud Products Discussed
Kansas - Exclusion of Guaranteed Payments from Substraction Modification, IRC Sec. 1231 Gains and Losses Discussed
Louisiana
- Amnesty Program to Run for 30 Days Beginning November 16
Michigan
- Cloud Computing Transactions Were Not Taxable
- Investment Tax, Compensation Credits Had "Super-Priority"
- Personal Income Tax Rate Reduction Bill Enacted
Missouri
- Taxpayers Reminded of Franchise Tax Phaseout
North Carolina
- Sales and Use Tax Bad Debt Deduction Inapplicable to Accounts Held by Third Party
Ohio
- Certain Business Income Tax Rates Modified, CAT Exclusion Expanded and Other Changes Adopted
Tennessee
- Irish Private Limited Company Subject to Tax
Vermont
- Click-Through Nexus Law Takes Effect; Collection Obligations Begin December 1, 2015
Read the full November SALT 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. ©2015 CCH. All Rights Reserved
