State & local tax advisor: June 2016
Here’s a look at recent tax developments in Alabama, Arizona, Arkansas, California, Connecticut, Florida, Illinois, Michigan, Mississippi, New York, North Carolina, Ohio and Oklahoma.
Plante Moran’s State & Local Tax team issues newsletters periodically to keep you apprised of important state and local tax changes.
Topics in this issue include:
Alabama
- Corporate income tax apportionment rules repealed and replaced
- Filing and payment due dates same as federal
Arizona
- IRC conformity date update and partnership return changes enacted
Arkansas
- Apportionment using market-based sourcing sustained
California
- U.S. Supreme Court asked to review Gillette decision
Connecticut
- Market-based sourcing rules enacted, sunset dates for first five projects and angel investor credits extended
Florida
- Statute that imposes sales tax on florists was valid and did not violate U.S. Constitution
- Chicago extends non-possessory computer lease transaction tax voluntary disclosure offer
- Guidance provided on calculating Net Operating Loss (NOL) deduction correctly
- Sales factor included goods delivered to warehouse in Michigan
Mississippi
- Bill to phase out franchise tax, reduce income taxes signed by governor
New York
- Regulations on MTA surcharge permanently adopted
North Carolina
- Internal Revenue Code (IRC) conformity tie-in date updated
Ohio
- Ohio Supreme Court holds state tax code section unconstitutional, as applied to nonresident
Oklahoma
- Nexus, out-of-state vendor compliance, use tax notice changes enacted
Read the full June 2016 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.
