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State and Local Tax

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New York Formally Extends Tax Deadlines; New York City Offers Penalty Relief

Posted 5:00 PM by
The New York State Department of Taxation and Finance (DOTF) has announced important income tax filing and payment extensions related to upcoming deadlines. The April 15 deadline for returns and estimated payments has been extended to July 15, 2020, for individuals, estates, trusts, and corporations. Although the DOTF has not specified, this presumably includes any estimated payments made by partnerships or S corporations on behalf of nonresident individuals or corporations. KSM will continue monitoring this issue and provide updates as they are issued.
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Indiana Formally Extends Tax Filing and Payment Deadlines, Offers Penalty Relief

Posted 4:01 PM by
Yesterday, the Indiana Department of Revenue announced important income tax filing and payment extensions related to upcoming deadlines. The April 15 deadline for returns and estimated payments has been extended to July 15, 2020. In addition, Gov. Holcomb signed a number of executive orders geared towards providing economic relief, including late payment penalty waivers for the spring property tax installment payments.
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Indiana Attorney General Launches Unclaimed Property Self-Audit Program

Posted 8:00 PM by
Like all states, Indiana requires companies holding unclaimed property to report that property on an annual basis. Unclaimed property includes outstanding liabilities on a company’s books and records, such as uncashed payroll checks and customer credits.
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Christie and Royster Named Two of Indy’s Best and Brightest

Posted 9:00 PM by
Katz, Sapper & Miller’s Ashley Christie and Stephen Royster have been recognized as two of Indy’s 2020 Best and Brightest by Junior Achievement of Central Indiana. The award honors 100 of central Indiana’s outstanding young professionals, ages 40 and under across 10 different industries, who are making their mark as up-and-coming talent and the next generation of leaders in our community.
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Niesen Named Indiana Chamber Volunteer of the Year

Posted 9:00 PM by
Donna Niesen has been named by the Indiana Chamber of Commerce as a 2019 Samuel C. Schlosser Volunteer of the Year. The award honors community leaders who give their time and expertise to the Chamber for the benefit of all Hoosier businesses.
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State & Local Tax Update: Oregon Amends Recently Enacted Corporate Activity Tax

Posted 3:18 PM by
Oregon’s recently established Corporate Activity Tax (CAT) was amended July 23 when Gov. Kate Brown signed H.B. 2164 into law. The CAT, effective for tax years beginning on or after January 1, 2020, is based on Oregon gross receipts and provides taxpayers a 35% subtraction based on the greater of compensation or cost inputs.
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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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2019 Indiana Legislative Update

Posted 3:50 PM by
Hello, and welcome to KSM’s annual Legislative Update. You’ll find detail after detail about what legislative actions the 2019 Indiana General Assembly took in the world of tax and economic development.
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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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