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Entries by Stephen Royster, Amy Zimmer

State & Local Tax Update: California Selectively Conforms to Federal Tax Reform

Posted 5:45 PM by
California Gov. Gavin Newsom recently signed Assembly Bill 91 into law, selectively conforming to provisions of the federal Tax Cuts and Jobs Act, a.k.a tax reform. As part of this response to tax reform, California left its static conformity date as Jan. 1, 2015, but the state identified specific sections to follow for California purposes. In some instances, an election can be made impacting the 2018 tax year.
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State & Local Tax Update: Oregon Adds Corporate Activity Tax to Tax Regime

Posted 7:30 PM by
Oregon Gov. Kate Brown recently signed H.B. 3427 into law, imposing a new gross receipts tax effective for tax years beginning on or after Jan. 1, 2020. This new Corporate Activity Tax (CAT) is imposed on any “person” with commercial activity occurring in the state, is in addition to all other Oregon taxes, and is not limited by the protections against imposition of state net income taxes by federal law (P.L. 86-272).
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State & Local Tax Update: Indiana Follows Trend, Adopts Market-Based Sourcing

Posted 8:45 PM by
Over the past five years, many states have moved from cost-of-performance methodologies to market-based sourcing, modifying sourcing of receipts (other than of tangible personal property) and creating additional tax revenue from out-of-state service providers. On May 1, 2019, Indiana followed suit when Gov. Eric Holcomb signed Senate Bill 563 into law.
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New Jersey Corporate Tax Overhaul: 2019 Planning Considerations

Posted 12:30 PM by
In 2018, New Jersey Gov. Phil Murphy signed Assembly Bill No. 4202 into law. The bill included tax provisions that respond to the Tax Cuts and Jobs Act (TCJA). Most significantly, changes were made to the Corporation Business Tax. Later that year, Gov. Murphy signed Assembly Bill No. 4495, which then made technical corrections to Assembly Bill No. 4202 and clarified effective dates. In 2018, New Jersey Gov. Phil Murphy signed Assembly Bill No. 4202 into law. The bill included tax provisions that respond to the Tax Cuts and Jobs Act (TCJA). Most significantly, changes were made to the Corporation Business Tax. Later that year, Gov. Murphy signed Assembly Bill No. 4495, which then made technical corrections to Assembly Bill No. 4202 and clarified effective dates. As your business begins to plan for 2019, the following information will be important.
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New Jersey Amnesty Program Ends Jan. 15

Posted 3:00 PM by
New Jersey is currently running an amnesty program that allows taxpayers an opportunity to become compliant with certain state tax liabilities and unfiled tax returns. The state has identified certain companies and individuals with outstanding liabilities on account and contacted them regarding this program; however, companies and individuals that were not contacted by the state are also eligible to participate.
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