State and local tax advisor: July 2016
What’s new in state and local tax? Here are some updates on developments in Colorado, Louisiana, Michigan, Minnesota, Pennsylvania, Tennessee and Utah.
Topics in this issue include:
Colorado
- Applicability of credit for sale of intangible interest in pass-through entity discussed
Louisiana
- Single-sales factor apportionment formula, market-based sourcing adopted
- Remote retailers must provide use tax notice to Louisiana purchasers
- Limits placed on capital gains deduction
- Due dates and transferred credit procedures amended
Michigan
- Certifying and paying the essential services assessment discussed
- Repeal of flow-through withholding addressed
- No review of decision preventing use of MTC formula
Minnesota
- Disregarded foreign subsidiary properly included in combined return
Pennsylvania
- Corporate due date, amended returns and withholding amended; new credits enacted
Tennessee
- Rule on disregarded entities adopted
Utah
- Income from installment sales flowed through to nonresident shareholder
- Income from sale of interest in LLC was apportionable business income
Read the full 2016 July 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. ©2016 CCH. All Rights Reserved
