Throughout the week, we highlight selected developments involving state tax legislative, judicial, and administrative matters. The alerts provide a brief summary of specific multistate developments relevant to taxpayers, tax professionals, and other interested persons. Read the recent alerts below or visit the archive.
Alabama proposes rule requiring pass-through entity level tax for financial institutions On Tuesday August 31, 2021 the Alabama Department of Revenue proposed a new rule addressing Alabama’s financial institution excise tax (FIET) that would significantly change longstanding administrative practice with regard to the entity classification and filing obligations of certain pass-through entities. The proposed rule would require separate entity level filings for subchapter K entities and trusts that fall within the FIET’s definition of financial institution.
This Multistate Tax Alert includes some considerations for this proposed rule. [Issued: September 16, 2021] More
Oregon Tax Court decides nexus challenge to Tobacco Products Tax In an appeal regarding issues for summary judgment, the Regular Division of the Oregon Tax Court heard constitutional and statutory challenges regarding Oregon’s Tobacco Products Tax on products other than cigarettes. The Oregon Tax Court granted partial motions for summary judgment filed by the Oregon Department of Revenue and the taxpayer.
This Multistate Tax Alert summarizes the Oregon Tax Court’s decision. [Issued: September 16, 2021] More
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