CCH Tax Day Report New Hampshire taxpayers were entitled to a property tax abatement on their fire-ravaged property because the taxpayers were not statutorily precluded from applying for an abatement and had shown good cause for one. The property was struck by lightning in July 14 and burned to the ground, following which the taxpayers […]

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CCH Tax Day Report The U.S. Supreme Court has denied requests from a number of taxpayers to review Michigan appellate court decisions that rejected challenges to the retroactive repeal of the Multistate Tax Compact and its apportionment formula. Among the specific questions presented in the taxpayers’ petitions were the following: — whether the Compact has […]

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CCH Tax Day Report In advance of a May 23 House Ways and Means hearing on tax reform and a proposed border adjustment tax, the Joint Committee on Taxation has prepared a report. The report presents an overview of a border adjustment tax. Background House Republicans unveiled their “Better Way Tax Reform Blueprint” in June […]

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CCH Tax Day Report The Virginia Department of Taxation has announced that they have sent letters to taxpayers who may be impacted by the recently enacted electronic payment requirement for certain personal income tax payments, effective with their estimated payment due June 15, 2017 (TAXDAY, 2017/05/17, S.20). Effective for tax years beginning on or after […]

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CCH Tax Day Report The Oregon House of Representatives has passed a bill that would, if enacted, amend the determination of whether two or more corporate affiliates that are included in the same consolidated federal return are engaged in a unitary business by allowing the Department of Revenue to consider the role of foreign affiliates. […]

The post Oregon ~ Corporate Income Tax: Changes Regarding Determination of Corporations in a Unitary Group Passes House appeared first on Tax & Accounting Blog.

CCH Tax Day Report Oregon has enacted legislation that for purposes of corporate excise (income) tax apportionment replaces the term “business income” with “apportionable income” in order to align Oregon statutes with the Multistate Tax Commission (MTC) Model. The change is applicable to tax years beginning on or after January 1, 2018. H.B. 2275, Laws […]

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