Although not technically taxes, unclaimed property liability and compliance have become significant and oftentimes expensive concerns for those who pay business taxes.
Delaware especially has made some recent legislative changes in the way that it treats unclaimed property.
In this week’s issue of the Bloomberg BNA Weekly State Tax Report, authors Brenda R. Mayrack, founder and owner of Mayrack Law LLC, and Matthew P. Hedstrom, a senior associate in the New York office of Alston & Bird LLP, discuss Delaware's Unclaimed Property Task Force and its impact on recently passed legislation.
The article can be read in its entirety here.
Bloomberg BNA is looking for leading edge corporate state income tax professionals to work with us prior to full product launch of our new BNA State Tax Analyzer. You would help us guide the development and shape the industry’s first generation, multi-scenario, multi-state corporate income tax solution, supporting separate, combined/unitary, and consolidated state tax planning and provision analysis. We value your ideas, and together, we can create the best product possible!
Some notable developments from the State Tax Developments Tracker – Bloomberg BNA’s new tool for monitoring important developments in all the states:
New York Publishes Memorandum on Effects of Recent Corporate Tax Reform Legislation on Transitional Filing Provisions for Tax Years 2014 and 2015
Idaho Addresses 2014 Conformity to Federal Internal Revenue Code
Washington Office of Financial Management Issues Publication on Proposed Capital Gains Tax
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…
Fiscal Year 2016 Proposed Executive Budgets, by the National Association of State Budget Officers
Texas – Reimbursed costs not included in total revenue, by PwC
Indiana Sees Distortion, Attacks Intellectual Property Arrangement, by Sutherland
Compiled by Priya D. Nair
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