Welcome to the November/December 2017 issue of the Aprio State & Local Tax (SALT) Newsletter.
With dozens of different taxes imposed by the 50 states (and thousands of local jurisdictions), we recognize how challenging it is to keep up with current issues and developments. This newsletter is designed to provide insights on developments in state and local taxes including new legislation, regulations, rulings and cases addressing issues such as corporate and personal income taxes, sales and use taxes, nexus, franchise/net worth taxes, etc.
This issue of the newsletter includes articles addressing (i) the state tax implications of federal tax reform, (ii) a review of 2017 state tax developments, (iii) the sales tax collection fight against online marketplace providers, (iv) a potential refund opportunity in Minnesota based on the application of NOL limitations, (v) New Jersey income tax nexus for limited partners, and several others.
In case you missed prior issues of this newsletter, please click here.
If you have any comments, questions or suggestions regarding current or future topics, or if you would like to learn more about Aprio's SALT Practice, please email us at jeff.glickman@aprio.com. Thank you.
Jeff Glickman, J.D., LL.M.
Partner-in-Charge, State & Local Tax Practice
State Tax Implications of Federal Tax Reform
By Jeff Glickman, SALT partner
Although there isn't a final tax reform bill yet, several provisions in the federal tax reform proposal will have a direct or indirect impact on state and local tax liabilities.
A Review of 2017 State Tax Developments and a Look Ahead to 2018
By Jess Johannesen, SALT manager
As you begin preparing to file 2017 taxes and plan for 2018, check out this quick overview of state tax developments that may impact your business moving forward.
Are Online Marketplace Providers, like Amazon, Being Targeted by States for Sales Tax?
By Jeff Glickman, SALT partner
2017 was the first year in which states enacted sales tax legislation aimed specifically at requiring "marketplace providers" to collect and remit sales tax on sales by third-party sellers.
Refund Opportunity: Minnesota Concedes Its Position on Section 382 Net Operating Loss Limitations
By Jeff Weinkle, SALT manager
Minnesota taxpayers with losses subject to the limitation and whose NOLs were limited by apportionment under the old guidance may be able to amend their returns and claim refunds.
New Jersey Rules that Out-of-State Limited Partner Has Income Tax Nexus
By Alissa Graffius, SALT senior associate
A residential real estate developer's case demonstrates that the determination of whether or not an out-of-state limited partner has nexus is dependent upon the specific facts of the situation.
Texas Rules that Combined Group Member's Gain from Stock Sale is Not Included in Sales Factor Numerator
By Tina Chunn, SALT senior manager
Texas' combined group apportionment percentage includes Texas receipts only from group members that have nexus in the state. In this case, the parent did not have nexus because it did not maintain a place of business or perform services in Texas.
New Jersey Tax Court Addresses Challenges to Audit Sample
By Jess Johannesen, SALT manager
This case highlights the importance of managing the entire audit process, as taxpayers under audit can raise concerns over how the auditor conducts the audit.
Aprio's State and Local Tax (SALT) practice advises clients on the state and local tax implications of their business operations, allowing clients to strategically minimize their liabilities and risks. Our team has over 50 years of combined SALT experience working in industry, state departments of revenue, public accounting and private law practice. We specialize in all areas of SALT, including matters related to state tax nexus, corporate and personal income taxes, sales/use tax, franchise/net worth taxes, credits and incentives, and mergers and acquisitions. In addition, we represent clients in administrative matters before state revenue departments around the country, including audit defense and settlement negotiations, pursuing voluntary disclosure agreements and obtaining letter rulings.
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