Weekly Round-Up: Feds, McDonald's, 7-Eleven Aim to Pop Illinois Soda Tax; Mixed Reviews on States’ Escalating Efforts to Tax Services


Highlights from the 8/7/17 through 8/11/17 issues of the Daily Tax Report: State :

  • Casinos Settle Atlantic City Property Tax Claims
    Caesars Entertainment Corp., two former casinos owned by President Donald Trump, and two other Atlantic City casinos have settled their property tax appeals with the city under an agreement announced Aug. 2 by New Jersey Gov. Chris Christie (R).
  • States Find Back-to-School Sales Tax Holidays Pricey
    Back-to-school sales tax holidays are popular with consumers, but cash-strapped states often find them hard to justify.
  • AT&T, Verizon Back States on Digital Goods, Services Tax Bill
    AT&T and Verizon tax policy analysts voiced their support for a federal proposal prohibiting states from charging different rates on goods or services delivered electronically compared to their tangible counterparts.
  • Tax Reform Uncertainty to Hurt State Revenue Growth in FY ’18
    The uncertainty over federal tax reform and increasing costs of healthcare and Medicaid threaten to dampen states’ slow tax revenue growth for fiscal year 2018, according to preliminary findings from the National Conference of State Legislatures.
  • Mixed Reviews on States’ Escalating Efforts to Tax Services
    States aren't retreating from potential revenue-boosting measures that would tax services, but state and local practitioners are divided over whether such an expanded tax base is sound tax policy.
  • Michigan's Value-Added Tax: A Cautionary Tale for Feds, States
    The U.S. has been among a small number of developed countries for most of the last century in resisting an academically revered economic policy—the value-added tax. Michigan's failed VAT may help explain why.
  • Feds, McDonald's, 7-Eleven Aim to Pop Illinois Soda Tax
    Cook County's controversial tax on sweetened beverages continues to provoke controversy, this time with the U.S. Department of Agriculture.

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

  • Arkansas Finds Functional Test for Credit Sales Proceeds Persuasive
  • California Legislature Modifies Certain Penalty Provisions in State Income Tax Law
  • Maryland Adopts Previously Proposed Amendments to Collection of Taxes, Fees, Penalties for Casinos
  • Arizona: Expanded Electronic Filing, Payment of Business Taxes Effective August 9

Get a free trial to Bloomberg BNA Tax & Accounting's State Tax solution , a comprehensive research service that provides deep analysis and time-saving practice tools to help practitioners make well-informed decisions.

In other developments …  

Which States Benefit Most from the Home Mortgage Interest Deduction? by the Tax Foundation

New York State provides guidance on broker-dealer receipts sourcing by PwC