Tax Alerts

Tax Briefing(s)

Middle Class Tax Relief and Job Creation Act of 2012

2011 Tax Year In Review

CA - Independent contractor withholding webinar announced
The California Franchise Tax Board (FTB) is holding a free webinar on December 20, 2011, at 10 a.m. PST, for those who must withhold personal income tax on California source income...

CO - Time adjustment required when using comparative sales data
The Colorado appellate court reversed an order by a county board of assessment appeals that reduced the property tax assessment of vacant land because statutory assessment provisio...

CT - DRS addresses worker misclassification problem
The Connecticut Department of Revenue Services (DRS) has issued a notice encouraging employers that have misclassified their workers (e.g., as independent contractors rath...

DE - Governor proposes credit for hiring veterans
Delaware Gov. Jack Markell proposed to expand tax credits to Delaware businesses that hire veterans in his 2012 State of the State address. The governor made no additional tax prop...

FL - Floating interest rate remains at 7% for first half of 2012
The floating interest rate on Florida underpayments (deficiencies), late payments, and overpayments for the period from January 1, 2012, through June 30, 2012, remains at 7% for, a...

GA - Corporation not devoted entirely to charitable pursuits denied exemption
An exempt nonprofit corporation that built and rented apartments to low-income persons did not qualify for a local Georgia charitable property tax exemption because the corporation...

IL - Credit not applicable to deferred property tax payments
The property tax credit against Illinois personal income tax does not apply to taxpayers who participate in the state’s senior citizens real estate tax deferral program. Unde...

IN - Extension guidance updated
The Indiana Department of Revenue has released an updated personal income tax information bulletin that outlines the procedures for obtaining an extension of time to file. Specific...

IA - Military pay exclusion rules and other provisions amended
The Iowa Department of Revenue has adopted a number of rules and rule amendments relating to personal income. The amendments reflect legislative changes made by the Iowa General As...

MD - Emergency status provided for green energy regulations
The Maryland Joint Committee on Administrative, Executive and Legislative Review (AELR) has granted emergency status for the corporate and personal income tax regulations pertainin...

MA - Conference bridging service taxable
Conference bridging service sold to Massachusetts customers by an out-of-state taxpayer is subject to Massachusetts sales and use tax because it falls within the broad definition o...

NH - Home care association entitled to charitable exemption
On remand from the New Hampshire Supreme Court, the Board of Tax and Land Appeals (BTLA) considered two underlying issues as directed by the court and ruled that a home care ...

NJ - Madoff victims entitled to refunds
Taxpayers, who were victims of the Madoff Ponzi scheme, were entitled to file amended New Jersey gross (personal) income tax returns for 2005 through 2007 to claim refunds for inte...

NY - Application for award of administrative costs denied
A taxpayer was not entitled to an award of administrative costs under Tax Law §3030 with regard to a New York sales and use tax settlement, even though the taxpayer established tha...

NC - Guidelines issued on DOR’s authority to adjust net income or require filing of combined return
The North Carolina Department of Revenue has released a corporation income tax directive that addresses the Department’s authority to require corporate taxpayers to eliminate...

OH - InvestOhio program registration period begins
The Ohio Department of Development reminds taxpayers that registration for the InvestOhio program, which provides for a personal income tax credit for eligible investors, begins No...

PA - DOR updates bulletin on restricted credits
The Pennsylvania Department of Revenue (DOR) has issued a corporate income tax bulletin addressing the application of restricted credits and requirements for selling tax credits. S...

SC - Notification requirement for agents and brokers of certain rental property explained
The South Carolina Department of Revenue has issued a sales and use tax notice to remind real estate agents, brokers, and listing services that it is their responsibility to notify...

TX - Showroom was key to proving taxpayer was a retailer
A taxpayer was eligible for the 0.5% rate when calculating its taxable margin for Texas franchise purposes because, using an SIC Code Manual analysis, 100% of its revenue was deriv...

VA - Domestic production deduction properly allocated
A taxpayer that filed a federal consolidated corporate income tax return and a separate return for Virginia corporate income tax purposes properly claimed the IRC §199 deduction on...

WA - Taxability of insurers explained
The Washington Department of Revenue has updated an industry guide on the application of sales and use tax to the insurance industry. Insurers and affiliates are responsible for pa...

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