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Indiana to Implement Heavy Equipment Excise Tax in 2019

Posted 6:40 PM by
Effective Jan. 1, 2019, Indiana will implement 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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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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State & Local Tax Update: New York’s Response to Tax Reform

Posted 5:29 PM by
The 2018 New York State legislative session is well underway. The New York State Assembly’s biggest accomplishment thus far is the March 30 passage of the state’s 2018-19 budget bill (S07509C), which was then signed into law April 12, 2018, by Gov. Cuomo. While this budget bill provides some guidance on New York’s stance relating to the changes made by the Tax Cuts and Jobs Act (TCJA) (Public Law 115-97, 12/22/2017), the assembly’s budget bill ultimately came short in responding to several TCJA issues.
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State & Local Tax Update: 5/25/18

Posted 4:00 AM by
The Kentucky legislature recently passed significant tax law changes with House Bill 366 and House Bill 487, including an overhaul to much of Kentucky’s corporate tax system and addressing the state’s conformity to the Tax Cuts and Jobs Act. These bills broaden Kentucky’s tax base through various income and sales tax provisions and introduce a flat income tax rate.
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2018 Indiana Legislative Update

Posted 5:56 PM by
(Legislative) season’s greetings as we present our annual Indiana legislative update. As 2018 was a “short” session, the number of bills that ultimately passed was far fewer than those likely to be signed into law during the 2019 budget year. That said, there was still plenty of activity worthy of attention.
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Indiana Adopts Sales Tax Exemption for SaaS

Posted 7:00 PM by
Making good on his State of the State promise to provide clarity on the previously murky topic of software-as-a-service (SaaS) and its sales tax status, today Governor Holcomb signed Senate Bill 257 into law.
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Tennessee Issues Nexus Guidance for Transportation Companies

Posted 5:00 AM by
Tennessee issued the Revenue Ruling #17-08, which details nexus for transportation companies. Below is a summary of this ruling and key points to be aware of as transportation activity nexus is contemplated for the 2017 tax year.
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New York State & Local Tax Update: January 2018

Posted 5:00 AM by
Small businesses renting commercial property in downtown Manhattan are getting a break on their Commercial Rent Tax (CRT) under new legislation signed by Mayor Bill de Blasio in late December. Effective for tax years after July 1, 2018, the law provides a new tax credit for businesses that have income of less than $10 million and rent of less than $550,000.
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