Weekly Round-Up: “Captivating” Article Outlines Benefits of Captive Insurance Companies


In this week’s issue of the Bloomberg BNA Weekly State Tax Report, Jeffrey D. Katz, Christopher L. Young and Dean Harris of JDKatz, P.C. review the benefits and risks associated with forming a captive insurance company. Captive insurance companies can be an incredibly useful tool for companies that are either unable to find insurance coverage, find coverage mispriced, want easier access to the reinsurance market, or want to supplement their commercial insurance.

Full text of the article can be read here.

Other highlights from the 2/19/16 issue of the Weekly State Tax Report:

* South Dakota Panel Votes to Tax Remote Sellers

* What Will Future of State Tax Law Look Like Without Scalia?

* Airbnb Agrees to Collect Alabama Lodging Tax

* Duke Energy Loses $126 Million Tax Refund Bid in South Carolina

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

Nevada Tax Commission Proposes Amendments to Streamlined Sales and Use Tax Regulation

South Carolina Supreme Court Denies Refund Request Finding Principal Recovered from the Sale of Short-Term Securities Is Not Includible in the Sales Factor of the Multi-Factor Apportionment Formula

Wisconsin Department of Revenue Publishes 2015 Tax Practitioner Questions and Answers

Ohio Legislature Amends Law to Incorporate Post April 15, 2015 Internal Revenue Code Changes Into Ohio Law

South Dakota Legislature Amends Certain Provisions Regarding References to the Internal Revenue Code

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…  

Map: Which Places Benefit Most from State and Local Tax Deductions?, by Tax Foundation

New York: Department of Finance Issues Updated FAQs to Further Clarify Corporate Tax Reform Changes Within 2014-2015 and 2015-2016 New York State Budgets, by Deloitte Tax LLP

Compiled by Melissa Fernley