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State and Local Tax

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Indiana Implements Heavy Equipment Excise Tax

Posted 8:00 PM by
Effective Jan. 1, 2019, Indiana implemented a new excise tax on the rental of heavy equipment from a location in Indiana. The rental excise tax is 2.25 percent of the gross retail rental income. The renter is liable for the tax, and it will be collected by the retail merchant and sourced to the location from which the equipment is rented. The tax may be reported in the same manner used to report the retail merchant’s Indiana sales and use tax (INTax).
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Katz, Sapper & Miller Introduces New Partners in 2019

Posted 1:00 PM by
Katz, Sapper & Miller is pleased to announce our two newest partners, Randy Hooper and Stephen Royster. These individuals embody KSM’s values as they provide innovative solutions and superior service to help their clients achieve the great things they want to accomplish. We congratulate them on this outstanding achievement.
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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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Living in a Post-Wayfair World: How Failure to Comply Can Hurt Your Business

Posted 6:30 PM by
The Supreme Court’s recent South Dakota v. Wayfair decision allows states to require sellers to collect and remit sales tax based on the establishment of economic nexus. Though many businesses have taken note, they’re still asking, “Does this really affect me?” For many businesses, doing the same things this year that you did last year could mean new state tax obligations. Beyond upholding many states’ existing laws, Wayfair has inspired others to propose similar statutes or enforce existing ones more vigorously. In fact, more than 30 states have enacted or proposed economic nexus standards.
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New York State & Local Tax Update: October 2018

Posted 2:30 PM by
New York lawmakers enacted a program to potentially circumvent the Tax Cuts and Jobs Act (TCJA), which imposes a $10,000 cap on the state and local tax (“SALT”) deduction for individuals who itemize their deductions. This Employer Compensation Expense Program (“ECEP”)created an elective Employer Compensation Expense Tax (“ECET”) that employers can elect to pay if they have employees that earn over $40,000 annually in wages and compensation in New York state.
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What the Wayfair Decision Means for Out-of-State Sellers

Posted 4:30 PM by
The Supreme Court of the United States made headlines this summer when it announced a decision that would dramatically affect how states impose sales tax collection responsibilities. The court’s ruling in South Dakota v. Wayfair allowed states to require that sellers collect and remit sales tax based on the establishment of an “economic nexus,” doing away with the previous “physical presence” test. The ruling has significantly expanded the states’ authority in the sales tax arena, and businesses in every state will likely be impacted.
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New York State & Local Tax Update: July 2018

Posted 6:00 PM by
Businesses subject to New York City’s Commercial Rent Tax (CRT) will now be able to claim the new CRT credit on their June 1, 2018–May 31, 2019 tax return.
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State & Local Tax Update: Connecticut’s Response to Tax Reform

Posted 5:40 PM by
The Connecticut General Assembly recently passed legislation which made changes to the state’s taxing system effective for tax years beginning on or after Jan. 1, 2018. Most significant is the imposition of tax on pass-through entities that are doing business in Connecticut.
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Supreme Court Rules States Can Collect Online Sales Tax

Posted 6:01 PM by
In a 5-4 decision today, the Supreme Court turned the sales tax world on its head by overturning South Dakota v. Wayfair. The decision reverses decades of history related to sales tax nexus and a retailer’s obligation to collect and remit tax when it sold its products across state lines. Disavowing the old physical presence standard established by Quill, the high court’s ruling now opens the door for states to impose an economic nexus standard when it comes to sales tax collection responsibilities.
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2018 Indiana Legislative Update: Take 2

Posted 1:00 PM by
As the clock struck midnight Wednesday, March 14, chaos ensued at the Indiana Statehouse. Having not addressed several important topics – such as school safety, school finance, and tax reform – during the 2018 Indiana legislative session, Gov. Holcomb called the Indiana General Assembly back for a one-day special legislative session. This special session ended May 14 with the passage of only five bills. These bills included several tax implications for Indiana taxpayers, the most important of which are the tax provisions relevant to the recent federal tax overhaul under the Tax Cuts and Jobs Act.
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