State & local tax advisor: March 2018
What’s new in state and local tax? Here are a few updates on activities within Alabama, Colorado, Georgia, and more.
Alabama
- Tax amnesty program enactedConsumers/purchasers now allowed to directly petition for refunds of certain taxes
Colorado
- Treatment of gain from sale of interest in LLC discussed
Georgia
- Governor signs IRC conformity update, rate cut
Idaho
- Loss, credit carryovers available to offset certain income increases
- Tax reform legislation enacted
Illinois
- Impact of the Tax Cuts and Jobs Act explained
- Guidance on using blended rate or schedule SA with schedule K-1-P or K-1-T issued
Michigan
- Personal exemptions continued, IRC conformity update
- Sales and use tax apportionment of industrial processing exemption for electricity and natural gas providers explained
- Health maintenance organizations exempt from premiums tax
Oregon
- Section 965 personal income guidance issued
Virginia
- IRC conformity legislation enactedFiling guidance provided for conformity legislation
West Virginia
- IRC conformity tie-in date updated
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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