State & local tax advisor: November 2018
What’s new in state and local tax? Here are a few updates on activities within Colorado, Kentucky, Michigan, and more.
All states
- Income tax nexus legislation introduced in Congress
California
- Ruling on business entity members of multiple-member LLCs modified
Colorado
- Sales and use tax destination sourcing for local taxes will begin soon
Indiana
- Sales of cloud services not taxable in Indiana
Idaho
- Idaho issues temporary rule on pass-through entity treatment of IRC §965 deemed repatriation income
Iowa
- IRC §965 guidance issued
Kentucky
- Kentucky issues guidance on business inventory credit
- Issues guidance on deduction for state taxes
Massachusetts
- Massachusetts creates addbacks for TCJA deductions
- Addresses GILTI and Subpart F income treatment
Michigan
- Assessments for unpaid state real estate transfer taxes and interest upheld
New Jersey
- Additional guidance issued for reporting IRC §965 income
- Information provided on sales through marketplaces
Ohio
- Statement issued on Wayfair nexus decision
Oklahoma
- Oklahoma addresses treatment of IRC §965 and §951(A) income
Oregon
- Guidance on factor representation and IRC §965 issued
Pennsylvania
- Airfreight-forwarding company apportionment adopted
South Dakota
- Wayfair settlement reached
Texas
- Guidance on Wayfair decision provided
Wyoming
- Remote seller nexus guidelines 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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