State & local tax advisor: September 2018
What’s new in state and local tax? Here are a few updates on activities within Colorado, Kentucky, North Carolina, and more.
Colorado
- Out-of-state retailers must begin collecting sales tax soon
Illinois
- Illinois sales thresholds for remote sellers addressed in emergency rules
Indiana
- Indiana ready to enforce economic nexus for sales tax
Kentucky
- Kentucky provides guidance on global intangible low-taxed income (GILTI)
Maine
- Conformity legislation enacted
Massachusetts
- Massachusetts issues draft IRC §965 guidance
North Carolina
- North Carolina provides IRC §965 reporting guidance
- North Carolina provides guidance on IRC conformity update
North Dakota
- Corporate income tax guidance issued on repatriation income, GILTI, and FDII
South Carolina
- Collection from remote sellers begins November 1
South Dakota
- Remote sellers and marketplace providers soon subject to economic nexus laws
Tennessee
- Post-Wayfair tax collection by out-of-state dealers discussed
Texas
- Company’s sourcing of subscription revenues upheld
Wisconsin
- Remote seller registration, collection dates announced
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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