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State and Local Thinking -- July 2017

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State and local ThinkingSALT Alerts

California legislature passes bill transferring many of State Board of Equalization’s responsibilities to new tax agencies

California holds documentary transfer tax can apply to transfers of interests in legal entities that own real estate

Colorado enforcement of remote seller notice and reporting requirements commences

Florida enacts legislation reducing commercial rent rate

Illinois enacts budget increasing income tax rates, eliminating unitary non-combination rule

Massachusetts DOR revokes directive explaining bright-line sales tax nexus standard for remote internet vendors


Maine will impose collection and remittance duties on remote sellers beginning Oct. 1

Michigan issues guidance on ‘materials and supplies’ deduction for MBT purposes


Michigan tax tribunal finds passive holding company did not have nexus for Detroit income tax


Minnesota Tax Court holds definition of ‘resident trust’ unconstitutional as applied to inter vivos trusts


Minnesota enacts omnibus tax legislation including expansion of sales tax nexus

New Hampshire enacts legislation updating IRC conformity, decreasing tax rates

New Jersey Tax Court finds payments made by subsidiary qualify for exception to addback rule

North Carolina enacts budget legislation reducing income tax rates, providing sales tax exemptions

Ohio enacts budget including expanded sales tax nexus, municipal income tax changes, and amnesty program

Oklahoma tax legislation revises franchise tax, sales tax and voluntary disclosure agreement provisions


Oklahoma Supreme Court allows individual to take capital gain deduction for sale of S corporations’ goodwill

Pennsylvania Commonwealth Court finds township’s local business privilege tax not fairly apportioned


Texas expands ‘qualifying job’ definition for data center sales and use tax exemption


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Thought leadership from our State and Local Tax professionals

June 28: Paul Bogdanski, Director, SALT – Chicago office, is quoted in a Bloomberg BNA Daily Tax Report article, “Businesses face a patchwork of trade show tax rules” by Michael J. Bologna. Paul discusses ambiguities in various states’ trade show nexus tax regulations.

June 28: Jamie Yesnowitz, Principal, SALT – National Tax Office Leader, is quoted in a Bloomberg BNA Daily Tax Report article, “Trump tweet attack on Amazon spurs tax policy questions” by Che Odom. Paul discusses Amazon’s efforts to reach sales tax agreements with various states.

July 3: Jamie Yesnowitz, Principal, SALT – National Tax Office Leader, is quoted in a Bloomberg BNA Daily Tax Report article, “Aetna to relocate to New York after receiving tax credits” by Ryan Prete. Jamie discusses some of the tax ramifications of Aetna’s announced move from Hartford, Conn., to New York City.

July 13: Jamie Yesnowitz, Principal, SALT – National Tax Office Leader, is quoted in a Bloomberg BNA Daily Tax Report article “States primed for higher tax collections after Amazon holiday” by Ryan Prete. Jamie discusses the difficulty of predicting a long-term effect of Amazon’s July 11 Prime Day.

Tax professionals


Meet Tom Coley, a State and Local Tax partner in the Charlotte office

Tom Coley is a Partner, SALT, at Grant Thornton’s Charlotte office. Tom has more than 18 years of experience in heavy income-franchise tax and credits-incentives and is a CPA. Tom joined Grant Thornton in 2002.

Tom’s expertise is in identifying, substantiating and calculating tax credits in the Southeast. He specializes in state and local tax issues, including those involving multi-state corporate income, franchise tax planning, compliance and refund reviews and audit defense. Additionally, he assists clients in identifying and qualifying for discretionary state and local incentives.

Tom earned bachelor of science degrees both in business administration and in accounting from the University of North Carolina at Charlotte. He is a member of the American Institute of Certified Public Accountants and the North Carolina Association of Certified Public Accountants. Among his many other professional associations, Tom is the chair of the University of North Carolina at Charlotte’s Accounting Advisory Board. Tom recently was a speaker at the 2017 Institute for Professionals in Taxation annual meeting.

Contact
Mark Arrigo
SALT Income & Franchise Tax Business Line Leader
T +1 678 515 2320

Matthew Melinson
SALT Indirect Tax Business Line Leader
T +1 215 376 6050

Jamie Yesnowitz

SALT National Tax Office Principal
T +1 202 521 1504

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