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.
Idaho State Tax Commission adopts market-based sourcing rules Applicable for tax years beginning on or after January 1, 2022, Idaho requires taxpayers to use market-based sourcing for sales of other than sales of tangible personal property. Administrative rules regarding the market-based sourcing have been adopted by the Idaho State Tax Commission.
This Multistate Tax Alert summarizes the topics covered by the new Idaho market-based sourcing rules and where to locate the rules. [Issued: April 11, 2023] More
Kentucky amends pass-through entity tax election On March 31, 2023, Kentucky House Bill 5 (H.B. 5) was enacted into law. This bill amends the provisions of House Bill 360 (H.B. 360), which enacted a pass-through entity tax (“PTET”) in Kentucky.
This Multistate Tax Alert summarizes some of the provisions of H.B. 5 related to the PTET. [Issued: April 10, 2023] More
New Mexico enacts changes to pass-through entity tax On April 5, 2023, New Mexico House Bill 368 (H.B. 368) was enacted into law. Pursuant to the legislation, which is effective on June 16, 2023 for tax years beginning on or after January 1, 2023, certain provisions of the State’s pass-through entity tax are amended.
This Multistate Tax Alert summarizes some of the provisions of H.B. 368. [Issued: April 10, 2023] More
North Carolina enacts changes to pass-through entity tax On April 3, 2023, North Carolina Senate Bill 174 (S.B. 174) was enacted into law, which includes certain amendments to North Carolina’s pass-through entity tax.
This Multistate Tax Alert summarizes some of the provisions of S.B. 174. [Issued: April 10, 2023] More
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