Weekly Round-Up: South Dakota Sets Eye on U.S. Supreme Court; State Budget Battles


 

Highlights from the 9/11/17 through 9/15/17 issues of the Daily Tax Report: State :

  • South Dakota Supreme Court Strikes Digital Sales Tax Statute

    The South Dakota Supreme Court Sept. 13 affirmed a decision restricting the state's ability to tax remote retailers and opened the door for potential U.S. Supreme Court reconsideration of a 25-year-old opinion (South Dakota v. Wayfair, Inc., S.D., No. 28160, 9/13/17).

  • Pennsylvania House Passes Plan to Fund Budget

    Less than two days before Pennsylvania's general fund balance is set to hit zero, the state's House passed a plan to fund the state's $32 billion spending package by transferring tens of millions of dollars out of existing state funds.

  • Wisconsin Assembly Tosses Business Tax Programs

    Wisconsin is a step closer to enacting a $76 billion budget featuring tax code changes primarily benefiting businesses, homeowners, and a small number of high net worth taxpayers after action in the Assembly Sept. 13.

  • Foxconn Tax Incentives Clear Wisconsin Senate

    Foxconn Technology Group's bid for $3 billion worth of economic development incentives crossed a major threshold Sept. 12 when the Wisconsin Senate approved a bill creating one of the largest state tax credit programs in U.S. history.

  • New Jersey Tax Hike on Rich Would Raise $1B: Group

    New Jersey would collect $1 billion more in annual income tax revenue by raising rates for the top 5 percent of the state's earners, a liberal think tank said.

  • Irma Spurs State Tax Relief, Extensions

    Florida and other states have begun announcing tax relief and deadline extensions for taxpayers affected by Irma—with more announcements likely to come.

  • Connecticut Governor Proposes Raising Sales Tax in Latest Budget

    Connecticut Governor Dannel Malloy proposed raising the state's sales tax and eliminating a diversion of sales-tax revenue to a municipal aid program in his latest budget proposal, which also scaled back a bid to shift pension costs to towns.

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

  • Virginia Governor Announces Start of Statewide Tax Amnesty

  • California Court of Appeal: Sales Tax Sourced From Where Performance Completed

  • New York Establishes Alternative Property Tax Exemptions for Veterans

  • Pennsylvania: Taxpayer's Net Loss Carryover Deduction Violated Uniformity Clause

Get a free trial to Bloomberg BNA Tax & Accounting's State Tax solution , a comprehensive research service that provides deep analysis and time-saving practice tools to help practitioners make well-informed decisions.

In other developments …  

Alabama - NOLs Generated by an Alabama Affiliated Group Member Prior to a Consolidated Election May be Used to Offset Consolidated Income by PwC

How Much Does Your State Collect in Sales Tax Per Capita? by the Tax Foundation