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.
Georgia and Indiana enact legislation relating to IRC section 174 Georgia and Indiana recently enacted legislation decoupling or providing modifications from the Tax Cuts and Jobs Act (TCJA) amendments to Internal Revenue Code section 174, joining six other states in decoupling or providing modifications from the TCJA amendments to section 174 for corporate income tax purposes.
This Multistate Tax Alert summarizes this legislation in Georgia and Indiana and provides considerations for those six other states. [Issued: June 1, 2023] More
Hawaii enacts pass-through entity tax election On June 1, 2023, Hawaii Senate Bill 1437 (S.B. 1437) was enacted into law. Under the legislation, qualifying pass-through entities may make an annual election to pay an entity level state tax. The bill is effective on January 1, 2024 and applies to taxable years beginning after December 31, 2022.
This Multistate Tax Alert summarizes some of the provisions of S.B. 1437. [Issued: June 5, 2023] More
Minnesota enacts several changes to its income and franchise tax laws On May 24, 2023, Minnesota House File 1938 (H.F. 1938), Minnesota’s omnibus tax bill, was enacted into law. This legislation includes changes to Minnesota corporate franchise, pass-through entity tax, individual income, sales and use, and property tax laws.
This Multistate Tax Alert summarizes some of the significant provisions of H.F. 1938 impacting the Minnesota corporate franchise tax, pass-through entity tax, and individual income tax laws. [Issued: May 30, 2023] More
Minnesota enacts retail delivery fee and other sales and use tax law changes On May 15, 2023, Minnesota House File 2335 (H.F. 2335) was enacted into law, and on May 24, 2023, Minnesota House File 2887 (H.F. 2887) and House File 1938 (H.F. 1938) were enacted. All three bills included changes to Minnesota’s sales and use tax laws.
This Multistate Tax Alert summarizes some of the sales and use tax provisions in H.F. 2335, H.F. 2887, and H.F. 1938. [Issued: May 31, 2023] More
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