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Welcome to the July 2015 issue of the HA&W 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 on an update to a Georgia Tax Tribunal case addressing income tax adjustments for resident taxpayers with ownership interest in pass-through entities, legislation in Nevada establishing a new tax on businesses and new sales tax nexus standards, and the state tax implications of the U.S. Supreme Court’s same-sex marriage ruling.
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 HA&W’s SALT Practice, please email us at jeff.glickman@hawcpa.com. Thank you.
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Jeff Glickman, J.D., LL.M.
Partner-in-Charge, State & Local Tax Practice. |
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UPDATE: Georgia Tax Tribunal Issues Consent Order on Pass-through Tax Adjustment Computation Method
By Jeff Weinkle, SALT manager
An outstanding issue from the Georgia Tax Tribunal’s ruling on the Texas Franchise Tax was how the adjustment should be calculated. Read More
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Nevada Enacts New “Commerce Tax” on Businesses and New Sales and Use Tax Nexus Standards
By Jeff Weinkle, SALT manager
Effective July 1, 2015, Nevada has enacted a new “Commerce Tax” on business gross receipts that will affect thousands of Nevada businesses. Read More
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Same-Sex Marriage Ruling: State Tax Implications
by Jeff Glickman, SALT partner
On June 26, the Supreme Court ruled that same-sex couples have a right to marry under the 14th Amendment. While this decision will have impacts on society that are outside the scope of this newsletter, there are several state tax implications. Read More
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Expanding Sales Tax Nexus Rules: Tennessee Says “Yes” and Louisiana Says “No”
By Jess Johannesen, SALT senior associate
States have taken an increasingly expansive view of what constitutes physical presence, looking beyond the actual physical presence of the taxpayer to the physical presence of others who may be acting on the taxpayer’s behalf. Read More
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Sales Tax Treatment of a Single Offering Containing Multiple Products/Services
By Tina Chunn, SALT senior manager
As traditional products such as software move to a more service-based approach through hosted environments, it is increasingly difficult to answer the basic question of whether a sales transaction is a product or service offering. Read More
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New York Rules That a Nonresident’s Sale of
S-Corporation Stock Constituted New York
Source Income
By Jeff Glickman, SALT partner
Some states are moving away from the historical rule that sales of ownership interests in flow-through entities are taxed by the individual's state of residence only. Read More
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About HA&W's State & Local Tax Practice
HA&W’s State & 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 in industry, state government, public accounting, and private law practice. We specialize in all areas of SALT, including matters related to corporate and personal income taxes, sales/use tax, nexus, franchise/net worth taxes, credits and incentives, and mergers & 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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