State & local tax advisor: August 2017
What’s new in state and local tax? Here are a few updates on activities within Colorado, Massachusetts, Michigan, Oregon, and more.
All states
- MTC offers voluntary disclosure initiative for online marketplace sellers
Colorado
- Notice and reporting requirements for non-collecting retailers clarified
Massachusetts
- Assessment of taxpayer’s drop shipment transactions sustained
Michigan
- Good Jobs for Michigan program allows authorized businesses to retain withholding taxes
Minnesota
- Inclusion of foreign disregarded entity’s income tans apportionment factors in combined report affirmed
North Carolina
- “Apportionable income” definition amended; interest expense deduction modified
Oklahoma
- Taxpayer’s sale of assets in pass-through entities qualified for capital gains deduction
Oregon
- Functional test removed for apportionment purposes
Rhode Island
- Tax amnesty enacted
- Out-of-state retailers using in-state software, seeds & plants, criminal penalties, and more
Read the full August 2017 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.
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