CCH Tax Day Report The Hawaii Department of Taxation (DOT) has announced changes to certain taxpayers’ mandatory general excise tax; transient accommodations tax; and rental motor vehicle, tour vehicle, and car-sharing vehicle surcharge tax filing and payment frequency to require more frequent filings. Monthly filing and payment of the taxes is the default frequency for […]

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CCH Tax Day Report Colorado Gov. John Hickenlooper has signed legislation authorizing the Colorado Economic Development Commission (EDC) to allow certain business that make a strategic capital investment in the state to treat several existing corporate income tax credits as transferable, beginning July 1, 2017, and lasting through June 30, 2020. Once the income tax […]

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CCH Tax Day Report An IRS settlement officer (SO) did not abuse her discretion when she determined to proceed with a levy to collect a nursing home’s unpaid employment tax obligations. Since the taxpayer was a corporation, it could not qualify for relief due to economic hardship because the hardship relief provision was limited to […]

The post Levy for Nursing Home’s Employment Tax Proper; Impartial SO Denied Hardship Relief, Installment Agreement (Crescent Manor, Inc.; Western Hills Residential Care Center, Inc.; Hennessey Manor Nursing Home, Inc., Silvercrest Manor Nursing Home, Inc., TCM) appeared first on Tax & Accounting Blog.

CCH Tax Day Report Enacted Montana corporate income tax legislation increases the net operating loss (NOL) carryforward period from 7 years to 10 years, applicable to tax years beginning after December 31, 2017. In addition, the legislation provides that an NOL carryback may not exceed $500,000 per tax period. Ch. 409 (H.B. 550), effective October […]

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CCH Tax Day Report The total amount of research and development tax credits available against Maryland corporate and personal income tax liabilities that may be approved by the Department of Commerce for any calendar year has been increased from $4.5 million to (1) $5.5 million per calendar year beginning in calendar year 2017 for the […]

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CCH Tax Day Report Legislation regarding a number of Florida sales and use tax provisions is enacted. Tax Rate on Rental of Commercial Real Estate Effective January 1, 2018, the sales tax on the total rent or license fee charged under a commercial lease of real property (i.e., business rent tax) is reduced from 6% […]

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