In this week’s issue of the Bloomberg BNA Weekly State Tax report, Maria P. Eberle and Lindsay M. LaCava of Baker & McKenzie discuss the most significant aspects of New York’s draft nexus and apportionment regulations. The recently released draft regulations provide guidance on New York’s extensive income tax reform.
The article can be read in its entirety here.
Other highlights from the 12/18/15 issue of the Weekly State Tax Report:
* Rob Lowe’s appeal regarding the taxable gain on the sale of his $25 million home grinds on after the California State Board of Equalization rescinded its November vote
* NYU panelists say Congress will do nothing about nexus in 2016
* California State Board of Equalization tells Craigslist that market-based sourcing rules are not retroactive by upholding the Franchise Tax Board’s determination in Appeal of Craigslist, Inc.
* The Multistate Tax Commission will convene early in 2016 to takes next step with model sourcing rules
* New Jersey lawmakers seek Christie end-run by taking proposals directly to voters in the form of constitutional amendments
Some notable developments from the State Tax Developments Tracker–Bloomberg BNA’s new tool for monitoring important developments in all the states:
California Board of Equalization Announces Increase in Statewide Assessed Property Values
Illinois General Assembly Enacts Law to Make Appropriations from Various Revenue Funds
Massachusetts Governor's Office Reduces Part B Income Tax Rate Effective January 1, 2016
Utah Supreme Court Holds Pay-TV Tax Credit Survives Rational Basis Scrutiny and Dormant Commerce Scrutiny as It Does Not Discriminate on Basis of Geographic Connection
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…
Compiled by Chreasea Dickerson
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