Louisiana Gov. John Bel Edwards has signed legislation that expands eligibility for the inventory tax credit against franchise and income taxes to include tangible personal property owned by a retailer that is available for or subject to a short-term rental and that will subsequently or ultimately be sold by the retailer. A “short-term rental” is […]

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CCH Tax Day Report Louisiana Gov. John Bel Edwards has signed legislation that makes various changes to the corporate and personal income tax credit for research and development expenses. The changes apply to tax years beginning on or after January 1, 2017. The legislation reduces the credit rates from 40% to 30% of difference between […]

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CCH Tax Day Report Applicable on and after January 1, 2018, the threshold filing amounts for retailers to submit sales and use tax returns to the Kansas Department of Revenue are increased. The threshold filing amounts are increased as follows: — when the total sales and use tax for which any retailer is liable does […]

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CCH Tax Day Report Kansas Gov. Sam Brownback has signed legislation changing the due date for filing certain annual withholding tax forms from the last day of February to January 31. Changes governing property tax (TAXDAY, 2017/06/27, S.6) and sales and use taxes (TAXDAY, 2017/06/27, S.7) are covered separately. H.B. 2212, Laws 2017, effective July […]

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CCH Tax Day Report A professional hockey team, organized as an S corporation, was entitled to deduct the entire cost of pregame meals for players and personnel at away games. The meals qualified as de minimis fringe benefits. Although the contracts between the team and the hotels were not titled “leases,” the team paid consideration […]

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CCH Tax Day Report The Congressional Budget Office (CBO) and the Joint Committee on Taxation (JCT) released a cost estimate on June 26 of Senate Republicans’ Better Care Reconciliation Act of 2017 (BCRA), a measure that would repeal and replace, in part, the Patient Protection and Affordable Care Act (ACA) (P.L. 111-148) (TAXDAY, 2017/06/23, C.1). […]

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