Tri-State Tax Update

From our offices in Boston, Portland, and Portsmouth, Pierce Atwood's State and Local Tax ("SALT") Group provides litigation, planning, transaction, regulatory, and legislative services to business, associations, and individuals on all Massachusetts, Maine, and New Hampshire tax issues and development incentives. 

State and local tax laws are continually changing, either through legislative action, administrative interpretation, or judicial decisions.  Pierce Atwood's SALT Group carefully monitors these changes.  We also like to periodically provide Alerts, such as this one, to inform our clients and friends about the changes that may be most relevant to them.  Please click on the appropriate link for more information on each topic.

Massachusetts

• Amazon to Open Massachusetts Office.
• The Department of Revenue issues guidance on receiving and retaining "security corporation" classification.

Maine

• The Legislative Session wraps up with several new tax laws, including changes to the appeals process, a possible reduction of income tax rates, a "use tax amnesty" program, and expansion of the New Markets Capital Investment Program.
• Another aircraft owner successfully challenged the imposition of use tax on its airplane.

New Hampshire

• The NOL carryforward limit was increased for purposes of the business profits tax.
• Victims of investment fraud are provided a method for recovering tax overpayments.
• A Constitutional amendment banning the imposition of an individual income tax will be on November's ballot.
• The business enterprise tax return thresholds will be increased.
• Internet access is not subject to the communications service tax; any assessments of such tax must be withdrawn.

Pierce Atwood SALT Group News

• Pierce Atwood hosted U.S. Tax Court Special Trial Judge Lewis Carluzzo at its Portland Office earlier this month.  Judge Carluzzo gave an illuminating overview on the role of the Tax Court and current trends.  In particular, Judge Carluzzo focused on the relationship between the Court and the Courts of Appeals, and on areas in which the Court is seeing increased activity, such as whistleblower claims.
• On August 6, Kathy Parker will be speaking at the Georgetown Advanced State and Local Tax Institute. 
• Jon Block will be attending the 42^nd Annual Wichita Program for Appraisal for Ad Valorem Taxation of Communications, Energy and Transportation Properties later this month.
• Jon Block will speak on Maine and New Hampshire Tax Developments at the NYU Institute on State and Local Tax in New York City in November.
• Jon Block and Kris Eimicke spoke to the Maine Society of CPAs in Bangor and Portland on State and Federal Tax Developments earlier this year.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.