Indiana Market Based Sourcing Rule: Changes and Impact on Apportionment
Signed May 1, 2019, Indiana Senate Bill 563, adopts market-based sourcing rules and also makes certain other changes to Indiana’s apportionment provisions, effective retroactively for tax years beginning after December 31, 2018. Physical presence is not required to establish nexus for Indiana corporate income tax purposes (effective January 1, 2019).
New Washington Law Simplifies B&O & Sales Tax Economic Nexus, Marketplace Facilitator Nexus
S.B. 5581 was signed by the Governor Jay Inslee on March 14, 2019, with the goal of improving the effectiveness and adequacy of state tax laws by clarifying and simplifying nexus provisions, by decreasing compliance and administrative burdens for taxpayers and the department of revenue, by facilitating the collection of
Ohio Opportunity Zone income tax credit legislation introduced
News from the Governors biennial budget March 13, 2019 Under the governor’s proposal, Ohio would provide a 10 percent, nonrefundable income tax credit to those who invest in the state’s Opportunity Zones. The Executive Budget proposes a nonrefundable personal income tax credit equal to 10 percent of capital gains reinvested
Online Sellers Sales Tax Compliance with South Dakota – Post Wayfair
On June 21, 2018, the U.S. Supreme Court issued a decision in South Dakota v. Wayfair, overturning the physical presence standard espoused in Quill v. North Dakota[1], holding that the respondents had established substantial nexus in this case through “extensive virtual presence.” This case stemmed from a
WA Marketplace Fairness Penalty Reduction program through June 30
For a limited time, through June 30, 2018, Washington State is offering a B&O Tax Penalty Abatement Program Economic nexus for sales tax and Washington’s 2018 collection requirement for out of state sellers. The state of Washington has a limited time opportunity for penalty abatement through the Marketplace Fairness Penalty
Kentucky Tax Reform Legislation – Sweeping Reform
The Kentucky Senate and House enacted tax reform legislation House Bill (HB) 366 into law on April 13, 2018, after overriding Governor Matt Bevin’s veto of the bill. The legislature reacted by passing House Bill 487 on the last day of the session, April 14, 2018, making changes to HB