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State & local tax advisor: May 2017

May 31, 2017 Article 1 min read
Curtis Ruppal Mike Merkel Julie Corrigan Ron Cook
What’s new in state and local tax? Here are a few updates on activities within Colorado, Indiana, Michigan, Montana, and more. 

Image of man in front of corporate building


  • Colorado-source income regulation amended


  • Certain remote merchants required to collect Indiana sales tax


  • U.S. Supreme Court declines to review retroactive repeal of multistate tax compact
  • HMOs remain subject to corporate income tax


  • Market-based sourcing enacted

New York City

  • Basis adjustments under IRC §734 and §743 discussed


  • Manufacturing corporation’s purchase of natural gas taxable


  • Oil and gas royalty payments exempt from withholding requirements


  • Crediting of overpayments as estimated tax addressed


  • DOR reminds taxpayers that amnesty has begun


  • Phase-out of hall income rates enacted; apportionment method election permitted for manufactures
  • Streamlined sales tax effective dates delayed


  • Amnesty program enacted and guidance issued


  • Taxability of property temporarily used in state for business purposes explained


  • Composite return e-filing, partnership apportionment, other topics discussed

Read the full May 2017 SALT advisor >>

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