Skip to Content

State & local tax advisor: May 2018

May 25, 2018 Article 30 min read
Authors:
Curtis Ruppal Mike Merkel Ron Cook Julie Corrigan
What’s new in state and local tax? Here are a few updates on activities within Alabama, Florida, Kentucky, Michigan, and more.

Image of people sitting in meeting room during video conference.

Alabama

  • Guidance provided on IRC §965 repatriation income

Arizona

  • Repatriation income adjustment required for fiduciary return filers

California

  • Return adjustments required for IRC §965 amounts

Florida

  • Corporate income tax guidance provided on repatriation income

Indiana

  • IRC conformity bill enacted
  • Remote retailers encouraged to file taxes; limited time voluntary disclosure program

Kentucky

  • Kentucky requires IRC §199A addback, restores credits
  • Kentucky enacts combined reporting

Maryland

  • Phase-in of single-sales factor formula enacted

Michigan

  • Small business exemption for industrial and commercial personal property amended
  • Withholding reporting deadline changed, e-filing requirement enacted

New York

  • Nonresident partner’s treatment of gain or loss on certain sales or transfers of interest discussed

New York City

  • Guidance issued on IRC §965 deemed repatriation income

Ohio

  • Stock options properly subject to municipal income tax

Oklahoma

  • Oklahoma allows transition tax installment payment election

Rhode Island

  • Treatment of IRC §965 income for fiduciaries discussed

Wisconsin

  • Wisconsin issues chart of TCJA provisions adopted by state

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.

Related Thinking

Parent and child walking up steps towards U.S. Capitol.
April 15, 2024

Bipartisan tax package may require amended returns

Article 6 min read
View of U.S. Capitol against the sunset.
March 26, 2024

State and local tax advisor: March 2024

Article 20 min read
Close up photo of an EV car charging station and a green SUV car
March 25, 2024

Financing EV capital projects: IRA credits, grants, & loans

Article 10 min read