The Internal Revenue Service issued proposed regulations on May 31, 2023, for the Low-Income Communities Bonus Credit Program under Section 48(e) of the Internal Revenue Code. The proposed regulations provide more details on the procedures and criteria of the application
Gov. DeSantis has signed House Bill 7063, which includes a reduction in the sales tax rate on leases of real property (other than short-term residential rentals).
Florida imposes its sales tax on the lease of or license to use real
On March 16, 2023, California Assembly Bill 52 (AB 52) was amended to provide a manufacturing equipment tax credit. If signed into law, taxpayers would be authorized to take an income tax credit for the portion of local sales or use tax
In Polselli v. IRS, the Supreme Court was tasked with determining whether the IRS, pursuant to powers granted in Internal Revenue Code (IRC) section 7609(c)(2)(D)(i), is entitled to issue third-party summonses, without notice, for bank account records in which the
On May 9, 2023, just four days after oral argument before the circuit court, the Supreme Court of Maryland issued a Mandate, vacating the circuit court’s order granting the taxpayers’ motion for summary judgment, stating that “the Circuit Court
In California, spring flowers may bring tax dollars as state Senate Democrats propose increasing the corporate tax rate along with other changes and the California Supreme Court agreed with the Court of Appeal that the California Department of Tax and
In this episode of GeTtin’ SALTy, host Nikki Dobay is joined by Jeff Newgard, principal at Peak Policy, to discuss the Oregon legislative session as well as a bill that is being considered that would require alignment to the state
On April 4, the Internal Revenue Service issued Notice 2023-29 (the Notice), which describes certain rules the IRS intends to include in proposed regulations for qualifying for the energy community bonus production tax credit (PTC) rate and investment tax credit
In the third episode of GT’s state and local tax podcast – GeTtin’ SALTy – host Nikki Dobay talks to Brad Marsh, Co-chair of GT’s U.S. State and Local Tax Practice. They discuss the history of California’s State Board of
On April 7, 2023, the Second District of the California Court of Appeal published a landmark opinion on California property tax law that expands the tax-exempt status of intangible assets, holding that transient occupancy tax reimbursements and key money payments
