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State and local tax advisor: July 2016

July 26, 2016 Article 1 min read
Authors:
Curtis Ruppal Mike Merkel Ron Cook
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 >> 

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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. ©2016 CCH. All Rights Reserved

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