WEEKLY ROUND-UP: ANTICIPATED CHANGES IN STATE TAX POLICY

Weekly Round-Up: Anticipated Changes in State Tax Policy 

Highlights from the 8/12/16 issue of the Weekly State Tax Report :

  • Sweeping Tax Trends Across States Not Slowing Down
    Tax policies designed to raise more revenue, such as sales tax notification laws, single-sales factor apportionment and market-based sourcing requirements, are expected to pop up in more states.
  • What’s Old Is New: State Tax Laws at Tension With New Tech
    As states continue to target new technology, it is becoming apparent that tax laws need to be updated in order to provide clarity for taxpayers.
  • Wooing Amazon: Mississippi Mulls Relocation v. Remote Taxes
    A Mississippi tax policy panel will focus on ways to increase revenue by attracting businesses to the state instead of looking at ways to tax internet sales. 
  • Gross Receipts Tax and Idea Past Its Prime: Tax Foundation
    Oregon’s gross receipts tax ballot measure, which would impose a 2.5 percent tax on sales of more than 25 million within the state, faces opposition. 
  • Final Sourcing Rules Lurch Ahead at Multistate Tax Group
    The Multistate tax Commission is one step closer to finalizing proposed market-based sourcing regulations. However, the Section 18 work group continues to address the impact of excluding interest and dividends. 
  • Amazon Leads Flock to Follow New Alabama Sales Tax System
  • Fifty-two remote sellers, include Amazon.com Inc. and Overstock.Com Inc., have joined Alabama’s voluntary remittance program according to Alabama Revenue Commissioner Julie Magee.  

Some notable developments from the State Tax Developments Tracker –Bloomberg BNA’s tool for monitoring important developments in all the states:

  • Indiana Department of Revenue Releases Information on Indiana’s Unique Approach to Taxation
  • New jersey Economic Development Authority Board Approves Grow NJ Tax Jobs Credit, Encouraging Allergen, LLC to remain in New Jersey
  • Pennsylvania: Philadelphia Tax Review Board Abates Penalty Against Real Estate Taxes as Taxpayer Promises to Pay 36-Year Tax Delinquency
  • Connecticut Department of Revenue Services Releases Information Regarding Tax-Free Week, Beginning August 21 - August 27, 2016
  • Kansas Department of Revenue Announces Closure of Business for Nonpayment of State Sales, Corporate and Withholding Taxes

For more information about this and other state tax issues, sign up for a free trial of the Bloomberg BNA Premier State Tax Library.

In other developments…  

Louisiana - Significant corporate income and franchise tax changes implemented in several recent legislative sessions by PricewaterhouseCoopers LLP

South Carolina: Department of Revenue Finalizes Corporate Income Tax Nexus Guidance  by KPMG LLP

     

Compiled by Chreasea Dickerson