Ohio Will Cut Income Tax Withholding Rates – Tax & Accounting Blog
Ohio will reduce withholding rates used by employers to calculate payroll deductions for the state income tax. The rate reduction will begin January 1, 2019.…
Individuals May Owe Michigan Tax on IRC Sec. 965 Income – Tax & Accounting Blog
Individuals and trusts may owe Michigan income tax on IRC Sec. 965 income either as: – dividend income attributed to the state of residence; or…
Illinois Reduces Premiums Tax Rate on Industrial Insureds – Tax & Accounting Blog
Illinois lawmakers voted to override Gov. Bruce Rauner’s veto of legislation that: – reduces the premiums tax rate on industrial insureds; and – establishes new…
Georgia Expands Hurricane Tax Amnesty to Two More Counties – Tax & Accounting Blog
The Georgia Department of Revenue has expanded the tax amnesty granted to Georgia victims of Hurricane Michael to include additional counties. Details of the amnesty,…
Massachusetts Grants Another Tax Extension for Explosions – Tax & Accounting Blog
Taxpayers affected by the September gas explosions have been granted additional filing and payment extensions for Massachusetts state tax purposes. Payment and Filing Extension Dates…
Texas Issues Wayfair Sales Tax Guidance – Tax & Accounting Blog
Remote sellers may have to begin collecting sales tax on their sales into Texas in late 2019. This change would be in response to the…
Rhode Island Discusses Treatment of IRC Sec. 965 Income – Tax & Accounting Blog
Rhode Island provided guidance on its tax treatment of IRC Sec. 965 income for individuals and pass-through entities. Federal Treatment Under the federal Tax Cuts…
South Dakota v. Wayfair: Will the Court do Anything with Quill? – Tax & Accounting Blog
The U.S. Supreme Court heard oral arguments in South Dakota v. Wayfair, Inc., Docket No. 17-494, on April 17, 2018. In the course of the arguments,…
Wisconsin Enacts Back-to-School Sales Tax Holiday, Rebate – Tax & Accounting Blog
Wisconsin will a back-to-school sales tax holiday from August 1 through 5, 2018. In addition, taxpayers may qualify for a one-time sales and use tax…
Oregon Enacts Qualified Business Income Addition, Grant Credit – Tax & Accounting Blog
Oregon has enacted income tax legislation creating: an addition to federal taxable income for the amount of deductions allowed under IRC Sec. 199A(a); and a…