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State & local tax advisor: April 2017

April 27, 2017 Article 1 min read
Authors:
Curtis Ruppal Mike Merkel Ron Cook
See the latest state and local tax changes in Arizona, California, Colorado, Connecticut, Massachusetts, Maryland, New Jersey, Ohio, and Texas.

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Topics in this issue include:

Arizona

  • Legislation specifies when change in organizational structure of entity is a nontaxable event
  • Changes to electronic filing and payment, audit provisions, others enacted

California

  • Guidance provided regarding mergers and acquisitions for apportioning taxpayers
  • S corporation’s built-in gains and losses apportioned in year of sale

Colorado

  • Electronic filing and payment provisions amended

Connecticut

  • Apportionment and market-based sourcing changes addressed, sourcing procedures established

Massachusetts

  • New federal income tax filing deadlines adopted for 2017 business tax returns

Maryland

  • Manufacturing incentive program enacted

New Jersey

  • S corporations must pay tax owed by nonconsenting shareholders

Ohio

  • Guidance issued regarding the definition of “indirect ownership”

Texas

  • Taxpayer not allowed to amend reports to change method used to calculate COGS deduction

Read the full 2017 April 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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