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In this week’s issue of the Bloomberg BNA Weekly State Tax Report, Ernst & Young’s Alex Thacher, Allan Holzer and Brian Aragon discuss Nevada's tax gamble, the Nevada Commerce Tax, and whether it will pay off. The authors explain how the people of Nevada have long been averse to direct taxation by the government, preferring to rely on gambling and tourism taxes; however, these methods are no longer enough to support the state.
The article can be read in its entirety here.
In addition,Sylvia Dion of PrietoDion Consulting discusses the Marketplace Fairness Act (MFA), the Remote Transactions Parity Act (RTPA) and the potential for remote seller legislation to finally become law. Federal remote seller legislation has historically been both popular and troubled in Congress.
The article can be read in its entirety here.
Other highlights from the 11/20/15 issue of the Tax Management Weekly State Tax Report
*An in-depth look into how cloud computing taxation is dividing statehouses and executive branches are pushing the evolution of law in this area
*A summary of latest news from the California State Board of Equalization, including a resolution in a dispute involving actor Rob Lowe
*Coverage of a new Wynne-related lawsuit in Maryland, the ongoing Pennsylvania budget stalemate and the transit crisis in New Jersey
*Perspectives on the remote seller legislation pending in Congress and Nevada’s commerce tax “gamble”
Some notable developments from the State Tax Developments Tracker–Bloomberg BNA’s new tool for monitoring important developments in all the states:
Louisiana Department of Revenue Issues Information Bulletin Regarding 2015 Louisiana Tax Delinquency Amnesty Program
Texas Comptroller of Public Accounts Publishes Information on Sin Tax
Maryland Comptroller of Treasury Releases Tax Alert Regarding Requirement to Notify Employees of Potential Earned Income Tax Credit Eligibility
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…
Illinois Proposed Regulations Governing Apportionment of Income for Transportation Companies Moving Forward, by McDermott Will & Emery LLP
Oklahoma Sales Tax Hike Proposal and the State Business Tax Climate Index, by the Tax Foundation
Compiled by Ryan C. Tuck
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