CCH Tax Day Report For corporate and personal income tax purposes, Colorado Gov. John Hickenlooper has signed legislation extending the advanced industry investment tax credit by allowing qualified investments made before January 1, 2023 (previously, January 1, 2018), to qualify for the credit. Additionally, beginning with the 2018 calendar year, if the Colorado Office of […]

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CCH Tax Day Report For purposes of taxes and the unclaimed property law it administers, the Alaska Department of Revenue (DOR) has issued a release detailing the effects of a possible government shutdown on July 1, 2017, in the event the Legislature’s special session (see TAXDAY, 2017/05/19, S.1) fails to produce a budget. According to […]

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CCH Tax Day Report The White House predicted tax reform this Fall. House and Senate tax counsel discussed tax reform. The Treasury Inspector General for Tax Administration (TIGTA) reviewed the IRS’s handling of tax-related identity theft cases. White House The White House predicted tax reform this fall (TAXDAY, 2017/06/07, W.1). Congress House and Senate tax […]

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CCH Tax Day Report The IRS has issued a simplified procedure for estates requesting an extension of time to make a portability election under Code Sec. 2010(c)(5)(A). If the portability election is made, a decedent’s unused exclusion amount (the deceased spousal unused exclusion (DSUE) amount) is available to a surviving spouse to apply to transfers […]

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CCH Tax Day Report Oregon has enacted legislation for purposes of the corporate excise (income) tax that allows the Department of Revenue to consider the role of foreign affiliates when making the determination of whether two or more corporate affiliates included in the same consolidated federal return are engaged in a unitary business. Previously, whether […]

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CCH Tax Day Report New Hampshire has amended its credit against the business profits tax and the business enterprise tax for donations to scholarship organizations. The amendments extend the due date that a business has to submit an education tax credit application to the Department of Revenue Administration to November 15 (previously June 15). Further, […]

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