Weekly Round-Up: Key Tax Issues Likely to Be Shaped by New Vision and Leadership in the 2015 Texas Legislative Session

The 84th Regular Session of the Texas Legislature recently commenced, and it's already clear that changes in the leadership—Governor and Comptroller—are making a difference in decision making.

In this week’s issue of the Bloomberg BNA Weekly State Tax Report, Kirk Lyda, a partner at Jones Day, discusses some of those decisions, such as public education funding and cutting taxes for homeowners and businesses.

Lyda’s article can be read in its entirety here.

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

New York State Department of Taxation and Finance Issues Memorandum on Supplemental Summary of Personal Income Tax Legislation Enacted in 2014

Wisconsin Department of Revenue Provides Guidance on Reporting Basis of Asset Modification for Pass-Through Entities and Their Members

California State Board of Equalization Updates Publication Regarding Interest, Penalties, and Fees

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…

Tennessee – Proposal to adopt economic nexus, market-based sourcing, by PwC

ALJ: New York NOL Deduction Does Not Apply When Tax Is Not Paid on Income Base, by Inside SALT, a blog by McDermott Will & Emery

Myths and Considerations Regarding Market Based Sourcing, by Horwood Marcus & Berk

Compiled by Priya D. Nair

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