State & local tax advisor: April 2017
See the latest state and local tax changes in Arizona, California, Colorado, Connecticut, Massachusetts, Maryland, New Jersey, Ohio, and Texas.
Topics in this issue include:
- Legislation specifies when change in organizational structure of entity is a nontaxable event
- Changes to electronic filing and payment, audit provisions, others enacted
- Guidance provided regarding mergers and acquisitions for apportioning taxpayers
- S corporation’s built-in gains and losses apportioned in year of sale
- Electronic filing and payment provisions amended
- Apportionment and market-based sourcing changes addressed, sourcing procedures established
- New federal income tax filing deadlines adopted for 2017 business tax returns
- Manufacturing incentive program enacted
- S corporations must pay tax owed by nonconsenting shareholders
- Guidance issued regarding the definition of “indirect ownership”
- Taxpayer not allowed to amend reports to change method used to calculate COGS deduction
Read the full 2017 April 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.