The Bloomberg BNA SALT Blog is a forum for practitioners and Bloomberg BNA editors to share ideas, raise issues, and network with colleagues about state and local tax topics. The ideas presented here are those of individuals and Bloomberg BNA bears no responsibility for the appropriateness or accuracy of the communications between group members.
November 25, 2014
by Rishi Agrawal
For the second year in a row, Georgia topped the list of Site Selection ’s annual ranking of state business climates. Louisiana also made huge strides, placing second on list, up from sixth place...
November 24, 2014
Taxpayers and tax practitioners
planning for 2015 should be aware that Rhode Island has overhauled its
corporate tax regime for tax years beginning on or after Jan. 1, 2015. The
November 21, 2014
In 2015, the European Union's new approach for
administration and sourcing of value-added tax on business to consumer sales of
telecommunications, broadcasting and electronic services begins,...
recent years, there has been a nationwide debate on whether to subject online
retailers to state and local sales tax. This concept has gained favor with
business group coalitions such as the ...
November 20, 2014
Texas has recently been awash in proposed changes to its
property tax system from newly-elected legislators, the newly-elected Lieutenant
Governor, local officials, and public policy...
November 18, 2014
The U.S. Supreme Court’s decision in Maryland Comp. of the Treas. v. Wynne will likely be a narrow victory for the taxpayer, predicted a former clerk to a high court justice at a Nov. 12 panel...
November 17, 2014
The limited liability company, or LLC, has become a popular
form for organizing a business. Using an
LLC generally avoids the double layer of taxation encountered with a
November 14, 2014
On Nov. 8-9, the Uniform Law
Commission's (ULC) Drafting Committee to rewrite the 1995 Uniform Unclaimed
Property Act met for a second time in Washington, D.C., to advance its
November 12, 2014
by Annabelle Gibson
Be on the
lookout for new taxes on your favorite products, as excise taxes featured
prominently in the November 2014 election and voters decided to enact new taxes
on products such as...
November 11, 2014
Voters in Louisiana, Oklahoma and Virginia overwhelmingly approved state constitutional amendments establishing or expanding homestead exemptions for veterans and their surviving spouses. [Oklahoma,...
November 10, 2014
On Wednesday, Nov. 12, the U.S. Supreme Court will hear the
oral arguments in Maryland State
Comptroller v. Wynne , in which the Maryland Comptroller is seeking to
overturn a Maryland high...
November 7, 2014
across the country took part in Nov. 4 elections to cast their votes on
questions ranging from imposing a “millionaire tax” to legalizing marijuana.
On the income tax front, in...
November 6, 2014
Tourism is the number
one industry in South Carolina, responsible for more than $17 billion in
spending and employing more than 200,000 people, approximately 10 percent of
Robert De Niro and his personal Riverside Trust are not
coming across as goodfellas to the 5,800 residents of the city of Gardiner in
upstate New York. De Niro’s trust, which owns the property, is...
November 5, 2014
by Rebecca Helmes
Yesterday Massachusetts voters repealed a 2013 law that
indexed the commonwealth’s gas tax to inflation each year. At a time when gas tax revenues have been
falling fast and policymakers are...
November 4, 2014
Although most states conform to the federal
tax treatment of severance pay, a handful of states have differing regulations.
Under the Internal Revenue Code, employer
payments to employees...
November 3, 2014
New York recently added to its Corporate Tax
Reform frequently asked questions (FAQs) portion of its website to clarify questions
created by the reform.
The new FAQs deal with combined...
October 31, 2014
The drama unfolding in state and local elections may provide
a preview of the fiscal issues states will continue to grapple with in 2015 and
beyond, Bloomberg BNA State Tax Law Editor Radha...
October 29, 2014
Law enforcement officials in at least three states have been
strictly enforcing laws on cigarette trafficking and tobacco tax evasion, prompting
the arrests of several suspected cigarette...
by Michael Kerman
Unlike those in most major cities, homeowners in Charleston,
South Carolina do not face the same property tax increases when their neighborhoods
gentrify, writes David Slade of the ...
October 28, 2014
As baseball season will soon reach its conclusion, gift-giving season awaits in the batter’s box. Before the next pitch is thrown it is worth considering what constitutes a tax-free gift versus...
October 27, 2014
For most people, the end of October means Halloween is
quickly approaching. For unclaimed property holders, it serves as a reminder
that a different, but sometimes equally scary, date is...
October 24, 2014
In recent years, there have been an increasing amount of self-service
kiosks in some of America’s largest retailers. MinuteKEY
are the makers of the world’s first ever self-service, fully...
Abraham Lincoln reportedly asked, “If you call a dog's tail a leg, how
many legs does a dog have?” His answer was, “Four. Calling a dog's tail a leg
does not make it a leg.” This is...
In recent years, states have become increasingly critical of the business
model used by online travel companies (“OTCs”), specifically in relation to
collecting tax on the discounted price of...
October 22, 2014
When the nation goes to the polls on Nov. 4, in addition to
voting for Congressional representatives, state legislators, and others, Nevada
voters will be asked to vote yea or nay to a 2...
October 21, 2014
Same-sex marriage became legal in 13
states in October, after the U.S. Supreme Court's Oct. 6 refusal to hear
several states' same-sex marriage ban petitions. The court let stand decisions
From the New York Philharmonic to the now-closed punk rock club CBGB, New York’s impact on music history is undeniable, and now some lawmakers want to ensure the future is also bright for New York’s...
October 20, 2014
BBNA Software will release the beta version of its State Corporate
Income Tax Planning and Provision system on November 3 rd. The beta version of the State Tax Planning and...
October 19, 2014
Figuring out how to prepare the
federal tax returns for people whose fiscal lives cross international borders
can be vexing and time consuming, Mary Beth Lougen, EA, the founder and
October 16, 2014
Property tax reform in Pennsylvania should be narrowly
tailored to provide relief to specific high tax districts instead of focusing
on broader approaches such as eliminating the tax entirely, the...
October 15, 2014
Marijuana legalization has spread across the country this
year, as Colorado and Washington began the retail sale of marijuana for
recreational use, three states enacted medical marijuana...
Paddleboards, the long, narrow
buoyant boards used to paddle across water, may now be exempt from sales and
use tax in Rhode Island, according to the Division of Taxation’s latest newsletter . ...
October 14, 2014
Recent legislation from California disallows deductions for fines paid by owners of professional
sports franchises imposed by those leagues on both personal and corporate
income tax returns for...
October 10, 2014
In the past 10 years, there has been a surge in corporate inversions,
with 47 companies engaging in these transactions between 2004 and 2014,
Bloomberg BNA State Tax Law Editor Radha Mohan...
October 9, 2014
The public perception of bitcoin is quickly
changing. Once regarded as the coin of the realm for cyber thieves, the virtual
currency is now accepted by big name retailers such as Overstock.com.
October 8, 2014
Big Brother may already be listening in on your phone calls and
scanning your emails and texts—will he also soon track and tax your mileage as
a state gas tax replacement?
October 7, 2014
Most people stand to gain as the
U.S. economy slowly returns to pre-recession levels, with one notable
exception—farmers. Because the formula used to determine property taxes on
Double taxation of trust income is a very real problem. The issue arises because trusts are subject to state income taxes on their entire income when they are classified as resident trusts under a...
October 6, 2014
Virginia granted a refund claim more than 13 years after the
original tax return was due in Ruling of the Commissioner PD 14-168 on Sept. 12 th .
While this result might seem surprising, it...
October 3, 2014
Amici supporting both taxpayer Brian Wynne and
the Comptroller of Maryland each envision a doomsday scenario, but each side
sees a different type of doom. In this week’s issue of the Bloomberg...
October 2, 2014
Last week, AZ
Central reported that approximately 30,000 Arizona smokers are facing fines
and penalties from unpaid use and luxury taxes stemming from their online
October 1, 2014
Taxes imposed on live adult entertainment such as nude
dancing have withstood First Amendment challenges in Nevada and Texas. Opponents
of the tax argue that it unfairly discriminates against...
drought-plagued western states, the idea of repealing property taxes that flow
to water districts has been catching on, as illustrated by a recent report by the Utah Foundation, titled...
September 30, 2014
Determining whether a worker is an employee or an
independent contractor can be a tricky landscape for employers to navigate, and
recent federal court rulings regarding FedEx’s independent...
September 29, 2014
The results are in. Montana, Oregon and
South Carolina garnered high marks for the fairness of their state and local
tax systems, according to the results of a WalletHub study reported by
September 25, 2014
“Tax-free” shopping on Amazon.com will come to
an end in just a few days for Minnesota and Maryland residents, as the online
retailer will begin collecting sales tax on purchases made in both states
starting Oct. 1, 2014.
The MTC is very valuable, both from
a tax structure and a tax compliance point of view, R. Bruce Johnson, Outgoing Chair
of the Utah State Tax Commission, said in response to a question about...
September 24, 2014
At the San Gennaro Feast festival
held in Las Vegas in early September, uniformed revenue officers from the
Nevada Department of Taxation approached participating vendors and informed
New York City Mayor Bill de Blasio is considering a property
tax proposal that would impose a surcharge of up to 4 percent on “pied-a-terre”
residences owned by foreign owners, according to...
September 23, 2014
Last week, in the shadow of the historic TCL Chinese Theatre in Hollywood, Gov. Jerry Brown signed legislation to increase California’s film tax credits to $330 million per year. California, which...
September 22, 2014
New Link New Jersey is offering a tax amnesty
program (though N.J. refuses to call it as such) running Sept. 17 through
Nov. 17, 2014. But this program is not called an amnesty because it...
September 19, 2014
San Francisco has been known as
“the city that knows how” because of its ability to rebuild and rebrand in the
wake of the devastation caused by the earthquake and fire of 1906, Alex
On September 11, Nevada and Tesla Motors entered into a multi-billion
dollar agreement that has potentially significant economic implications for the
state as well as manufacturing industries in...
September 18, 2014
Hong Kong merited the highest grade (an A-) of all the
countries and sub national jurisdictions evaluated in a scorecard
recently released by the Council On State Taxation (COST) and...
September 17, 2014
States’ use of health care-related taxes has
been on the rise in recent years, as states look to satisfy the rising costs of
Medicaid programs and capitalize on matching federal funds. But...
September 16, 2014
solved some of the disparity same-sex married couples face with taxes at the
federal level, particularly with joint tax filings and the federal estate tax,
problems remain. ...
September 15, 2014
July the Michigan Supreme Court handed down one of the more controversial
recent rulings in state corporate income tax in IBM v. Dept. of Treasury. The Court ruled that IBM was...
September 11, 2014
In sales tax circles, a “Gotcha” is an unexpected outcome usually
from an audit that seems illogical and counterintuitive, Katherine Gauntt, an
Engagement Manager in the SALT Center of...
It’s that time of year again… the
time when California’s most delinquent sales and use tax offenders are publicly
outed by the California State Board of Equalization. On Sept. 5th, the board released...
September 10, 2014
Several years ago, the California Legislature approved a
cap-and-trade program aimed at cutting greenhouse gas emissions to 1990 levels
by 2020. It already applies to some industries, but in...
Detroit missed the mark on its projected property tax
collections for the fourth quarter of FY 2014, ending in June 2014, by nearly
90 percent. The city collected only $6.7 million of an...
September 9, 2014
Education and taxes have historically been
interlocked. Traditionally, taxes were collected to help fund public school
systems. However, states that offer scholarship tax credits are turning the...
September 8, 2014
There has been a noted upsurge mergers and
acquisitions in 2014 both worldwide and in the U.S. In terms of structuring these deals for U.S. federal tax purposes, one of the
most common forms...
September 5, 2014
Many states using a form of
modified fair market value in their property tax calculations have enacted
property tax cap laws, Bloomberg BNA State Tax Law Editor Michael Kerman writes
Many states have wrestled with defining what types of services are
protected by the Internet Tax Freedom Act’s (IFTA) prohibition against taxes on
Internet access. This month, Virginia issued...
September 3, 2014
The difference between a tax and a fee generally turns on
the use of the revenue. Is the revenue
meant to raise money that can be used to defray the general costs of
government? It’s a tax. Is...
Do you want to save money for growing
tomatoes in the city? Or for reducing urban blight? Reducing transportation
emissions? Next week you can do just that if you live in San Francisco.
floods, hurricanes, earthquakes and other natural disasters, the last thing on
people’s minds may be payroll or tax issues, but employers affected by
disasters and those responding to...
September 2, 2014
In this interview, Suzanne Brown Walsh, chairwoman for the ULC committee that drafted the Uniform Fiduciary Access to Digital Assets Act (UFADAA) offers an inside look into the development of the...
August 29, 2014
Taxpayers with significant
operations in Texas may benefit from new research and development incentives
put into place by the state, Giles B.
Sutton, a partner at McGuireWoods LLP in...
August 28, 2014
Tax amnesty programs, offered occasionally
by state revenue departments, are often a big relief to taxpayers. They are beneficial to taxpayers because for a
short period of time, most tax amnesty...
August 27, 2014
In an effort to provide marijuana businesses with some tax
relief, last year Washington state decoupled from I.R.C. § 280E—a federal tax statute that has been the thorn
in the side of marijuana...
“The center of the Boardwalk. The heart of the action.” Not
anymore. By mid-September, three Atlantic City casinos will close, clearing a
whopping $2 billion from the city’s already shrinking tax...
August 26, 2014
Although most people do not connect crime to tax credits, the fact is that tax credits can be worth millions of dollars. And when that much money is involved, it shouldn’t surprise us that the...