Weekly Round-Up: Raising Revenue During Fiscal Uncertainty

Highlights from the 3/20/17 through 3/24/17 issues of the Daily Tax Report: State :

  • New Mexico Budget Talks Go Down to Wire
    Budget negotiators appeared near to an agreement March 17 over a $6.1 billion state spending plan for New Mexico beginning July 1. The Legislature is winding toward adjournment March 18 amid the budget discussions.
  • Massachusetts Would See $64M From Marijuana Taxes
    Massachusetts will reap $64 million in 2018 from the taxation of legalized recreational marijuana, the commissioner of revenue said. That figure is based on a 6.25 percent state sales tax, 3.75 percent state excise tax and 2 percent municipal tax included in the legalization law passed by voters in November, Michael Heffernan, commissioner of the Massachusetts Department of Revenue, said March 20 at a hearing of the Joint Committee on Marijuana Policy.
  • Louisiana Governor May Propose Gross Receipts Tax
    Louisiana's governor will likely propose taxing corporate gross receipts and pivot away from some recommendations offered by a task force co-chaired by the state's secretary of revenue. Gov. John Bel Edwards (D) plans to present a detailed plan to the Legislature on March 27. The regular session starts April 10.
  • Michigan Takes Swing at ‘Dark Store’ Property Tax Assessments
    Michigan lawmakers are taking another swipe at the so-called “dark store” property assessment loophole, introducing legislation March 21 that would limit big box retailers from using the strategy to dramatically cut their tax assessments.
  • Most States Sick Over GOP Health Bill, Impact on Budgets
    Rick Noonan said he wanted to cry when he heard the American Health Care Act was getting closer to becoming law. “It is very personal because the lives of people I care about are on the line,” the 49-year-old machinist and resident of a Philadelphia suburb told Bloomberg BNA. “No way Pennsylvania can cover the cost.” States can expect to receive billions of dollars less in federal Medicaid matching funds over the next 10 years if the Republican plan to replace the Affordable Care Act becomes law.

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

  •  Maryland Comptroller Of Treasury Releases Names Of Top Tax Evaders
  • Kentucky Legislature Enacts Law On State Tax Administration
  • Nebraska Governor Unveils New Analysis Of Agricultural Land Property Tax Reform Proposal
  • Tennessee Department Of Revenue Extends Deadline For Filing Returns Without Penalty To March 31, 2017
  • California State Board Of Equalization Releases Special Notice Regarding Sales And Use Tax Rate Changes Operative April 1, 2017

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 …  

What to Make of the West Virginia Senate’s Ambitious Tax Overhaul Legislation by the Tax Foundation 

Alabama Enacts Use Tax Notification Requirements for Remote Sellers; Amends Simplified Sellers Use Tax by PwC

Compiled by Chreasea Dickerson