Weekly Round-Up: Implications of TEFRA Repeal on State and Local Taxes


 

Weekly Round-Up: Implications of TEFRA Repeal on State and Local Taxes 

In this week’s issue of the Bloomberg BNA Weekly State Tax report, Alysse McLoughlin, Richard Call and Nicole Ford of McDermott Will & Emory discuss the repeal of the Tax Equity and Fiscal Responsibility Act of 1982 (TEFRA) and the resulting tax implications for partnerships. 

The article can be read in its entirety here.

Other highlights from the 3/25/16 issue of the Weekly State Tax Report:            

* Gillette Plaintiffs Request Extension To File for Certiorari With The U.S. Supreme Court

* Incentive Programs Fluctuate As Global Competition for Hollywood Grows 

* Efforts to Ban Tampon Tax Are Gaining Traction 

* State Tax Policy May Impact Small Businesses Disproportionately 

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

Florida Court of Appeals Affirms Decision Denying Taxpayer’s Homestead Exemption  

Utah Legislature Amends Law Relating to Corporate and Individual Tax Credits 

Colorado Legislature Enacts Bill to Allow an Adult to Produce Beer or Wine for Personal Use Without Obtaining a License 

California State Board of Equalization Proposes to Amend Regulation Concerning Interest and Penalties 

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 - Special Session Adjourns, Numerous Corporate Franchise Tax, Corporate Income Tax, and Sales Tax Changes Enacted, by PWC

Quill Part Deux: North Dakota Lost the Nexus Battle. Will South Dakota Win the War?, by Sutherland 

Compiled by Chreasea Dickerson