ArticleWays And Means Committee Kicks Off New Session With Hearing On Pro-Growth ReformThe Committee on Ways and Means announced last week that its first hearing of the new year will focus on pro-growth tax policies.United StatesTaxGrant Thornton LLP
ArticleIRS Functions Remain Mostly Halted Amid Government ShutdownThe IRS and much of the federal government shut down on Oct. 1 as Congress failed to agree on how to extend government funding.United StatesTaxGrant Thornton LLP
ArticleOnline Broadcast: Benefits Of Fixing Market StructureGrant Thornton recently participated in an online broadcast. United StatesTaxGrant Thornton LLP
ArticleSelf-Compliance Check For 403(b) PlansThe IRS in 2011 sent a Section 403(b) compliance check questionnaire to a national sample of more than 300. United StatesTaxGrant Thornton LLP
ArticleTexas Comptroller Finds Insurance Tracking Services Not Taxable Data Processing ServicesThe Texas Comptroller has issued a private letter ruling holding that a taxpayer providing insurance tracking/notification services to lenders was not providing taxable services. United StatesInsuranceGrant Thornton LLP
ArticleCalifornia FTB Chief Counsel Ruling Addresses Sourcing Of Sales From Non-Marketing ServicesThe California Franchise Tax Board (FTB) recently issued a Chief Counsel Ruling clarifying the sourcing of sales from non-marketing services under the state's market-based sourcing rules. United StatesTaxGrant Thornton LLP
ArticleIllinois' Cook County Imposes Soda Tax Following Dismissal Of Legal ChallengeOn Nov. 10, 2016, the Cook County Illinois Board of Commissioners adopted the Cook County Sweetened Beverage Tax Ordinance, more commonly known as the "Soda Tax" or "SBT." United StatesTaxGrant Thornton LLP
ArticleIRS Certification Of Professional Employer Organizations To Begin July 1, 2016The IRS plans to begin accepting applications for professional employer organization (PEO) certification beginning July 1, 2016.United StatesTaxGrant Thornton LLP
ArticleIRS Issues Procedures Related To Industry Issue Resolution ProgramThe IRS issued Rev. Proc. 2016-19, which provides procedures for taxpayers who want to submit issues for consideration under the industry issue resolution (IIR) program. United StatesTaxGrant Thornton LLP
ArticleIRS Releases Draft Instructions To ACA Employer Information Reporting FormsNew to the 2015 draft instructions are procedures for obtaining a 30-day extension for filing the forms with employees and the IRS, and details on how to correct paper returns.United StatesTaxGrant Thornton LLP
ArticleIRS Releases Inflation Adjustment For Section 179The above-the-line deduction for qualified teaching expenses was also made permanent and indexed for inflation, but will remain at $250 in 2016.United StatesTaxGrant Thornton LLP
ArticleIRS Small Business Division To Shift Examination Focus To S CorporationsThe IRS Small Business/Self-Employed (SB/SE) Division will likely move toward examining more business return categories, such as subchapter S corporations, and away from Form 1040 audits, a senior IRS official said May 6 in Washington.United StatesTaxGrant Thornton LLP
ArticleMinnesota Enacts Omnibus Tax Legislation Including Expansion Of Sales Tax NexusThe Minnesota legislature was called into a special session on May 23, 2017, to complete its passage of the necessary budget bills and the omnibus tax bill. The legislature passed the omnibus tax bill...United StatesTaxGrant Thornton LLP
ArticleNew Jersey Tax Court Holds Certain Receipts Incorrectly Excluded Under Former Throw-Out RuleIn Elan Pharmaceuticals, Inc. v. Director of Taxation, the New Jersey Tax Court held that certain receipts were not subject to exclusion under New Jersey's former throw-out rule.United StatesTaxGrant Thornton LLP
ArticleNew Jersey Tax Court Holds Gains From Deemed Asset Sale Of S Corporation Constitutes Non-Operational IncomeThe New Jersey Tax Court has held that the gain from a deemed asset sale was non-operational income and therefore not subject to apportionment. United StatesTaxGrant Thornton LLP
ArticleNorth Dakota Enacts Contingent Bright-Line Sales Tax Nexus Law For Remote SellersOn April 10, 2017, North Dakota Gov. Doug Burgum signed legislation that would require certain remote sellers that do not have a physical presence in North Dakota to collect sales...United StatesTaxGrant Thornton LLP
ArticleOregon Enacts Legislation Adopting Market-Based Sourcing, Altering Unitary Group DeterminationIn Oregon's legislative session this year, several laws were enacted that will impact Oregon taxpayersUnited StatesTaxGrant Thornton LLP
ArticlePennsylvania Commonwealth Court Finds Township's Local Business Privilege Tax Not Fairly ApportionedThe Pennsylvania Commonwealth Court recently held that a local business privilege tax imposed on fees paid by Pennsylvania 7-Eleven franchise stores to 7-Eleven's regional office in Upper Moreland Township...United StatesTaxGrant Thornton LLP
ArticleTennessee Enacts Single Sales Factor Apportionment For Manufacturing Businesses, Provides Hall Income Tax Phase-Out ScheduleOn April 26, 2017, Tennessee Governor Bill Haslam signed the "Improving Manufacturing, Public Roads and Opportunities for a Vibrant Economy (IMPROVE) Act" or the "2017 Tax Cut Act"...United StatesTaxGrant Thornton LLP
ArticleVermont Legislation Enacts Prospective Notice Requirements On Noncollecting Vendors And Potential Expansion Of Remote Seller NexusThe legislation also updates the state's conformity to the Internal Revenue Code and revises provisions governing the state's fuel gross receipts tax and filing due dates.United StatesTaxGrant Thornton LLP