Weekly Round-Up: States React to Federal Tax Reform; Weinstein Scandal Tax Implications Continue

Highlights from the 10/30/17 through 11/3/17 issues of the Daily Tax Report: State :

  • N.Y., California Governors Fault GOP Congress Tax Plan
    Congressional Republicans are poised to ram through a flawed tax overhaul before most Americans have time to understand how harmful it is, New York Gov. Andrew Cuomo (D) and California Gov. Jerry Brown (D) said.
  • Supreme Court Won't Hear Hustler Strip Club Currency Tax Case
    The U.S. Supreme Court won't entertain the argument by Larry Flynt's Hustler Club that the New York City nude dancing establishment doesn't owe $2.1 million in tax on $24 million in sales of “Beaver Bucks.”
  • Weinstein Scandal Puts Heat on New York Film Tax Credits
    The Harvey Weinstein sexual harassment scandal continues to put the spotlight on New York's $420 million film tax credit program.
  • Is Alaska's Tax System Strengthening Oil Production?
    The state of Alaska expects a third straight annual boost in oil production, prompting supporters of the state's current oil tax system to say it's working and needs to be left alone.
  • California Competes Tax Credit Should Expire: Legislative Analyst
    A California tax credit designed to attract or keep businesses in the state probably isn't meeting its goals and should be scrapped, the Legislature's nonpartisan fiscal and policy analyst said.
  • Pennsylvania Unlikely to Join Digital Tax Tiff: Revenue Secretary
    Pennsylvania isn't likely to join South Dakota and other states in their legal fight to reverse a 25-year-old federal rule that prevents states from levying sales tax on remote sellers, the state's Secretary of Revenue told Bloomberg Tax Nov. 1.
  • House GOP Tax Plan Draws Protests Over State Impact
    Federal lawmakers and groups representing state and local governments are pushing back against a key deduction contained in the House Republican tax reform plan released Nov. 2.
  • House GOP Tax Plan Echoes Failed Kansas Experiment: Democrats
    The Republicans’ tax reform plan is following in the footsteps of the controversial Kansas tax cut experiment that ultimately faltered, several federal and state lawmakers warned during a Nov. 2 press conference at the Capitol.

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

  • Pennsylvania Enacts Omnibus Bill Amending Multiple Tax Reform Code Law
  • Rhode Island Announces Launch of Tax Amnesty Websit
  • Washington Finds Assessment of Business, Occupation Tax Correc
  • New Mexico Higher Education Department Adopts Tax Refund Intercept Program Rule
  • Maine Revises Registration Instructions for Out of State Sellers, Other Persons

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In other developments …  

Five Implications of Retaining the Property Tax Deduction Under Federal Tax Reform by the Tax Foundation

SMLLCs qualify for partnership exemption, federal classification rules apply by PwC