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November 30, 2015 Article 1 min read
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 >>

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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