On Thursday, June 21, the Mississippi Gaming Commission (“MGC”) took a major step toward the goal of licensed sports and race books in state casinos by adopting governing regulations. A copy of the final regulations can be accessed here. Differences between the draft regulations and the final regulations, as adopted, indicate that betting using smartphone apps while on casino properties will be permitted, as will establishing wagering accounts off-site subject to account holder identity verification at the casino property. View Full Post
On June 21, 2018, the U.S. Supreme Court in South Dakota v. Wayfair, Inc., et al., decided (5-4 although not the usual liberal/conservative split) that an online retailer does not have to maintain a physical presence in a state in order to be required to collect the state’s sales and use tax. View Full Post
Louisiana and Parishes Considering How to Realize Benefit from Scotus’ Wayfair Decision – Working to Change Effective Date of Enabling Legislation By Jason Brown, Jaye Calhoun, and Willie Kolarik The Louisiana Legislature is considering last minute legislation to change the effective date of legislation allowing the State to tax remote sellers but has not acted to make other centralized collection legislation operative.  View Full Post
Suddenly Everything Has Changed: United States Supreme Court Adopts an Undefined Uniform Substantial Nexus Standard, Overturns Quill, and Fundamentally Alters the State Tax Landscape in Historic Wayfair Decision By the Kean Miller State and Local Tax Team On June 21, 2018, the Supreme Court of the United States issued its opinion in South Dakota v. Wayfair, Inc., Dkt. No, 17-494, 585 U.S. __ (June 21, 2018).  In addition to overturning the physical presence substantial nexus standard applicable to use tax collection requirements articulated by the court in Quill[1] and Bellas Hess[2], the Court’s far reaching opinion in Wayfair creates an undefined sufficiency test for determining when a taxpayer has substantial nexus with a state for purposes of the dormant Commerce Clause.  View Full Post
Today, the Supreme Court of the United States issued perhaps the most significant and far-reaching decision affecting state sales and use tax collection since its Quill v. North Dakota decision in 1992.  The high court expressly overruled the Quill decision, stating that the decision’s “physical present rule…is unsound and incorrect.”  As a result of today’s ruling, each state is now generally free to require that online retailers having no physical presence in the state (i) register with the state for sales/use tax purposes; and (ii) collect sales/use tax on a retailer’s sales of products or services into the state. View Full Post
Louisiana Board of Tax Appeals Holds that the Individual Net Capital Gain Exclusion Applies to a Multi-Step Transaction By Jaye Calhoun, Jason Brown and Willie Kolarik In Camp v. Robinson, No. 10609D, (La. Bd. Tax App. June 13, 2018), the Louisiana Board of Tax Appeals (the “Board”) held that Louisiana’s Individual Net Capital Gain Exclusion applies to a multi-step transaction.  View Full Post