Weekly Round-Up: Tax Reform, Pro Sports, ‘Beaver Bucks’

Highlights from the 12/11/17 through 12/15/17 issues of the Daily Tax Report: State :

  • Sales Tax Board Engaging White House on Digital Tax Issue
    The Streamlined Sales Tax Governing Board Inc. is working with the Trump Administration to garner support for legislation establishing a national framework for digital sales taxation, according to a board member.
  • Trump Backs Keeping State Income Tax Break with Cap, Cohn Says
    The White House supports tweaking final tax reform legislation to appease lawmakers who want to let constituents deduct state income taxes, according to National Economic Council Director Gary Cohn.
  • Larry Flynt's Hustler Strip Club Loses New York $2.1M Tax Battle
    Larry Flynt's Hustler Club lost another legal battle over $2.1 million in sales tax the state says it owes for in-house currency known as “Beaver Bucks.”
  • Federal Changes to State Tax Deduction May Threaten State Budgets
    State budgets could take a hit if the federal government eliminates or limits the ability of taxpayers to deduct state and local taxes, according to a representative from the National Conference of State Legislatures.
  • Former NFLer Keyshawn Johnson Scores Win in California Tax Case
    Former National Football League wide receiver Keyshawn Johnson wasn't a California resident from 2000 through 2004 when he played for the Tampa Bay Buccaneers and Dallas Cowboys, the State Board of Equalization said.
  • States, Gaming Industry Planning for Regulated Sports Betting
    The gaming industry and some state legislators are preparing for a scenario where sports betting is legal and regulated within the states while the U.S. Supreme Court mulls New Jersey's challenge to the federal Professional and Amateur Sports Protection Act of 1992.
  • Ohio AG Threatens Suit to Keep Publicly Financed Pro Soccer Team
    Ohio law has an explicit home-field advantage against sports teams looking to leave the state—if a team takes public cash, it has to stay or sell to a local buyer, the Ohio Attorney General says.
  • Tisch Says Lack of N.Y. Republicans Hurt State in Tax Debate
    The dearth of Republicans representing New York in Congress is partly to blame for the proposed eliminations of state and local tax deductions that will dramatically impact the state, said Jim Tisch, chief executive officer of Loews Corp.
  • Seattle Appeals Court Decision Invalidating ‘Rich’ Tax
    The city of Seattle is appealing to the Washington Supreme Court a state Superior Court's decision striking down the city's new municipal income tax on high-earners.
  • Brady Says State Sales Tax Break Part of Deal
    House Ways and Means Chairman Kevin Brady (R-Texas), who's overseeing the House-Senate conference committee of tax negotiators, said Dec. 14 that taxpayers will be able to deduct state income taxes or state sales taxes in addition to property levies—up to a $10,000 cap.

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

  • California Film Commission's Tax Credit Program 2.0 Gains Four New Series
  • Indiana Adopts Paid Fantasy Sports Gaming Emergency Rules
  • Illinois Proposes New Rules on Partnerships' Personal Services Income
  • Michigan Taxpayer Earns Too Much to Qualify for Poverty Exemption

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 …

Trends in State Tax Policy, 2018 by the Tax Foundation

Massachusetts - For costs of performance purposes, the income-producing activity of a cable franchise company is its functioning as a franchise licensee by PwC