CCH Tax Day Report Legislation has been enacted that updates the Internal Revenue Code (IRC) tie-in date for purposes of computing Florida corporate income tax liability from January 1, 2016, to January 1, 2017. The amendment applies retroactively to January 1, 2017. The legislation also pushes up the due date for estimated tax payments that […]

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CCH Tax Day Report Enacted Colorado legislation amends provisions governing the calculation of excise taxes on the sale of retail marijuana. The enacted law requires the Department of Revenue to determine the average market rate on a quarterly basis, rather than on a biannual basis. The average market rate must include one or more rates […]

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CCH Tax Day Report For California property tax purposes beginning June 5, 2017, a claim of nonownership of nonexempt assessed property, by itself, will not provide a sufficient basis for invoking the nullity exception and thereby avoiding the assessment appeal process when a taxpayer seeks a reduction in an assessment on the local roll. However, […]

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CCH Tax Day Report The Alabama Department of Revenue has revised a chart that reflects the latest information concerning the counties and municipalities that have notified the department regarding their participation in the “back-to-school” sales tax holiday being held from July 21 through July 23, 2017. The updated chart reflects the participation by Brewton, Clayhatchee, […]

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CCH Tax Day Report A corporate and personal income tax credit is established for the rehabilitation, preservation, and development of historic structures. The amount of tax credit is equal to 25% of the qualified rehabilitation expenditures for certified historic structures, not to exceed $5 million for a non-residential structure or $50,000 for a residential structure. […]

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CCH Tax Day Report IRS Large Business & International (LB&I) Division executives continued their webcast series on their division’s compliance campaigns on June 6. The series focuses on the initial rollout of 13 LB&I compliance campaigns aimed at redefining large business compliance work and establishing a supportive internal infrastructure for the examination process (TAXDAY, 2017/03/08-I.3). […]

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