Stephen Kranz is quoted in a press release from STAR Partnership regarding state-level action on the Tax Cuts and Jobs Act’s GILTI provisions.
Read the full real press release.
Inside SALT
In-Depth Coverage of Issues Surrounding State and Local Tax
Inside SALT, published by McDermott Will & Emery, focuses on state and local tax (SALT) developments, legislation, and enforcement trends. The blog covers topics such as tax policy changes, false claims acts related to tax enforcement, tax privacy and confidentiality issues, state tax litigation, and the impact of tax laws on businesses and financial institutions. It also addresses tax controversies, tax credits, surtaxes, and budgetary tax measures at the state level. The content includes analysis of legislative proposals, court rulings, and regulatory actions affecting state and local taxation, with an emphasis on practical implications for taxpayers and tax practitioners.
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Illinois Fiscal Year 2020 Income and Franchise Tax Changes
The Illinois General Assembly enacted a number of new tax measures in a flurry of activity at the end of its legislative session. Some of the changes are taxpayer friendly and others are not. Unlike the no-deal chaos of past…
Kentucky to Begin Taxing Video Streaming Services under Telecom Tax
Legislators in Frankfort added a new “video streaming service” tax to the omnibus tax bill (HB 354) as part of a closed-door conference committee process before the bill was hastily passed in the House and Senate. Notably, the new video…
Tennessee Joins Other States in Excluding GILTI and 965 Income from the Tax Base
On May 8, Governor Bill Lee (R) signed SB 558, which provides for the exclusion of 95% of Global Intangible Low-Taxed Income (GILTI) and foreign earnings deemed repatriated under IRC section 965 (965 Income) from the tax base for tax…
An Uneven Playing Field: Judicial Deference to State Tax Administrator Interpretations
Judicial deference to state tax agencies puts taxpayers at a steep disadvantage and wastes time and resources on costly tax disputes. A united advocacy effort can help promote passage of state-level legislation that takes the tax administrator’s thumb off the…
California Bill Would Remove Tax Bar to False Claims Act
California legislators have recently introduced a bill, AB 1270, that would amend the False Claims Act (Act) to strike the tax bar. As introduced, the bill would amend the existing false claims statute in the state of California to…
Nevada Bill Proposes Broad New Excise Tax on Sales of Digital Goods and Services
A bill (AB 447) was introduced on March 25th in the Nevada Assembly that would create a broad new excise tax on the retail sale of “specified digital products” to Nevada customers. Instead of expanding the scope of…
QHTC You Later: DC Bids Farewell to Historic QHTC Certification Process
The District of Columbia (DC) Office of Tax & Revenue (OTR) implemented sweeping changes to the Qualified High Technology Company (QHTC) certification process this year. As you may remember, beginning last year, OTR implemented a new online QHTC self-certification process…
A Big Thank You to Our Readers
We greatly appreciate our readers over the past year and are pleased to share that we were recently recognized by Law360 as the Tax Group of the Year.
In 2018, McDermott’s tax practice made headlines with its various high-profile…
Delaware Starts Unclaimed Property “Compliance Reviews” (Different from Audits)
If the Delaware Office of Unclaimed Property believes that a person may have filed an “inaccurate, incomplete, or false report,” the State Escheator may authorize a “compliance review” under Del. Code Ann. tit. 12, § 1170(b). This is not a…