60th Anniversary of P.L. 86-272
San Jose State University Blogs
Latest from San Jose State University
Two States Using Wayfair Economic Nexus Standard More Broadly
As we know, the June 2018 U.S. Supreme Court decision in South Dakota v. Wayfair, Inc., et al, allows for an economic nexus threshold for all types of taxes. Many states already had an economic nexus threshold for income taxes. Many states have adopted the South Dakota threshold for nexus. This standard generally starts use tax obligations when a vendor has over $100,000 of sales in the prior calendar year or the current year…
Does TCJA Make C Corps Better?
Does TCJA Make C Corps Better? Generally no when you factor in double taxation of C corporations. I’ve got an article looking at this question but only looking at domestic tax rules. Certainly, lots of international activity might make the C corporation look better. Here is the article, published this week in the Wealth Strategies Journal – https://wealthstrategiesjournal.com/2019/08/08/is-a-c-corporation-preferred-after-tax-reform/
What do you think?…
Two New Sales Tax Exemptions in California “makes the system more complex, less equitable”
California SB 92 (Chapter 34, 6/27/19) adds two new sales tax exemptions starting 1/1/20 and ending 12/31/21:
“diapers designed, manufactured, processed, fabricated, or packaged for use by infants, toddlers, and children” [R&T 6363.9]
“menstrual hygiene products” shall only include the following: (1) Tampons. (2) Sanitary napkins primarily designed and labeled for menstrual hygiene use. (3) Menstrual sponges. (4) Menstrual cups.” [R&T 6363.10]
For these new temporary sales tax exemptions, the legislature applies R&T §41 dealing…
Moving Backwards – New Form 1040-SR for 2019
Fixing the SALT $10,000 Cap
Latest Guidance on SALT Cap and Donations + Notice 2019-12 Safe Harbor
Growing U.S. Gig Workforce Exposes Outdated Tax System
For the past several years I’ve spent a lot of time on tax issues – federal, state and local, for the gig economy. While at the ABA Tax Section meeting in DC this month, I co-presented on this topic and participated in a podcast on the topic for Bloomberg Tax. Here is the link.
A few reform suggestions I have:
Remove the de minimis filing threshold for From 1099-K for third-party settlement organizations such…
TCJA Guidance Report from TIGTA
On May 14, TIGTA released a report, Status of the Office of Chief Counsel’s Issuance of TCJA Guidance. It reviewed the process for issuing guidance on the 100+ provisions of the Tax Cuts and Jobs Act (P.L. 115-97; 12/22/17). It also lists the guidance issued through the end of March (83 items) and what is expected from that date (95 items). A good amount of this includes Treasury Decisions, meaning final regs…
12th Anniversary of This Blog
