Weekly Round-Up: Best Practices for Unclaimed Property


In this week’s issue of the Bloomberg BNA Weekly State Tax Report, Christa DeOliveira of Ryan LLC discusses strategies for managing unclaimed property and ensuring compliance with state law. Unclaimed property laws vary greatly among the states, and companies must constantly monitor jurisdictional changes in order to remain in compliance.

Full text of the article can be read in the 3/11/16 issue of the Weekly State Tax Report.

Other highlights from the 3/11/16 issue of the Weekly State Tax Report:

* Hearing on MTC Sourcing Rules Highlights Taxpayer Concerns

* States See Potential Impact From Federal Audit Changes

* SCOTUS Signals Interest in California Unclaimed Property Case

* Group Starts State Effort to Close Carried Interest ‘Loophole’

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

Louisiana State Legislature Amends and Reenacts Law Relating to Net Operating Loss Deduction for Corporate Income Tax

South Dakota Legislature Enacts Law to Establish Procedures for Reporting Federal Tax Changes for Purposes of the Bank Franchise Tax

Virginia General Assembly Enacts Law Relating to Research and Development Expenses and Modifies Existing Tax Credits

Massachusetts Department of Revenue Publishes Information Regarding the Tax Amnesty Program for 2016

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…  

South Dakota: Economic Nexus Sales and Use Tax Bill Passes Both Houses, by KPMG 

Connecticut: Guidance Issued on Identifying Filing Group and Calculating Corporation Business Tax Liability for Combined Reporting Purposes, by Deloitte Tax LLP

Compiled by Melissa Fernley