On March 27, President Trump signed the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act), legislation intended to help Americans and businesses survive a public health and economic crisis due to COVID-19. This article provides a summary of key
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Akerman Perspectives on the State of Taxation
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Federal Government Responds to Coronavirus with Tax Measures
The federal government has enacted two tax measures to combat the financial downturn resulting from the coronavirus pandemic. The President signed into law a bill that includes a 100 percent payroll tax credit for certain employers providing COVID-19 related sick…
SALT Response to COVID-19
As we practice social distancing during the COVID-19 (“coronavirus”) outbreak, our state and local governments, like the federal government, are working through their response to the outbreak. The most common response by state and local governments has been the extension…
SCOTUS to decide who gets a consolidated group’s tax refund when a bankruptcy intervenes?
The U.S. Supreme Court heard oral arguments on December 3, 2019 in Simon E. Rodriguez v. Federal Deposit Insurance Corp., 18-1269 (Sup. Ct.). At dispute in the case is whether a $4.1 million tax refund belongs to a failed bank…
Kansas Surprises By Removing Nexus Thresholds and Seeks to Create Rebirth of “Slightest Presence” Nexus
The Kansas Department of Revenue recently released Notice 19-04 (the “Notice”) which provides that all remote sellers making sales into the state are required to register for and begin collecting and remitting sales and use tax effective October 1, 2019,…
New Hampshire Passes Anti-Wayfair Remote Tax Legislation
Most states impose sales or use tax on tangible personal property sold or consumed in the state. However, five states – Alaska, Delaware Montana, New Hampshire, and Oregon – do not impose such a tax. In its landmark South Dakota…
Arizona v. California: A Clear Case of “Passive Aggressiveness” in the State Taxation of Nonresidents
The State of Arizona has asked the Supreme Court of the United States to hear a challenge to the State of California’s taxation of nonresident members of California LLCs and nonresident shareholders of California corporations. The crux of the dispute…
Nothing to See Here? – Kaestner Trust Decision Leaves Many Unanswered Questions
The U.S. Supreme Court recently issued its decision in North Carolina Department of Revenue v. Kimberley Rice Kaestner 1992 Trust. The Court unanimously determined that the residency of in-state beneficiaries alone is an insufficient basis for a State’s taxation of…
Notable Changes to Florida Tax Law
The Florida legislature recently wrapped up its 2019 session. Of particular note, the following tax law changes were enacted.
Documentary Stamp Tax – Deeds between Spouses
Florida imposes a surtax – referred to as the “documentary stamp tax” – on…
A Case of History Repeating Itself: State Taxation of Transportation Related Companies
During the Great Depression, the taxi industry boomed in the United States. This growth was fueled, in part, by the fact that the industry was largely unregulated. With many unemployed and underemployed individuals in need of extra money at the…