Thorny State Digital Tax Issues Dominate Villanova Tax Forum
The Villanova University Graduate Tax Program hosted its second annual State and Local Tax Forum on Thursday, June 6, 2024. …
Connecticut Extends NOL Carryforwards, Amends Other State and Local Taxes
Connecticut Governor Ned Lamont has signed legislation extending to 30 years the net operating loss (NOL) carryforward deduction and modifying …
Maryland Provides Guidance on Home Amenity Rental Sales and Use Tax
By Saleem A. Shareef The Maryland Comptroller’s Office has provided guidance on the home amenity rental sales and use tax …
Colorado Includes Temporary Income Tax and Sales/Use Tax Rate Reductions in Revised TABOR Refund Mechanisms
By Margaret Eisler On May 14, 2024, Colorado Governor Jared Polis approved legislation that revises Taxpayer’s Bill of Rights (TABOR) refund mechanisms, …
Florida Governor Signs Omnibus Tax Bill
By Carlton Huntley On May 7, 2024, Florida Governor Ron DeSantis signed an omnibus tax bill that: adopts the current …
Alabama Amends Deadline for Making Pass-Through Entity Tax Election
By Denis Del Bene Alabama has enacted legislation amending the due date for an Alabama pass-through entity to make an …
New York’s Fiscal Budget Bill Adds a New Tax Credit, Amends the Cannabis Tax, and Makes Other Changes
by Jill C. McNally After a number of Budget Extenders, New York’s 2024-2025 Budget Bill implementing the state’s fiscal plan …
New Jersey Based Firm Permitted to Use Market Sourcing Prior to Change in Law
By David Engel The New Jersey Tax Court has ruled that facts and circumstances permitted a firm to use market …
Oregon Updates IRC Conformity
By Margaret Eisler On April 4, 2024, Oregon Governor Tina Kotek signed legislation advancing the state’s Internal Revenue Code (IRC) …
West Virginia Expands Subtraction for Social Security Benefits
By Jennifer J. Troyer On March 27, 2024, West Virginia Governor Jim Justice signed legislation expanding the subtraction from federal …