State & local tax advisor: February 2018
What’s new in state and local tax? Here are a few updates on activities within Idaho, Illinois, Indiana, and more.
- IRC conformity legislation enacted
- Sales and use tax occasional sale exemption discussed
- Sales to foreign country not subject to throwback rules
- Services for clients located outside Detroit not included in sales factor
- Personal income tax changes regarding filing of amended return discussed
- Impact of Tax Cuts and Jobs Act of 2017 on Minnesota taxpayers explained
New York City
- Receipts allocation had to reflect salespeople and independent consultants
- Impact of federal tax law changes discussed
- Net operating loss increases effective
- IRC conformity updated
- Tax amnesty runs May 1 through June 29
- Sales and use tax guidance regarding occasional sales exemption for business asset sales issued
Read the full February 2018 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.
©2018 CCH Incorporated and its affiliates. All rights reserved.