For purposes of the conditional exemption from North Carolina sales and use tax for items purchased for use in farming operations by certain persons who do not meet the definition of a “qualifying farmer” but satisfy certain criteria, a person can apply for a one-year extension of their conditional exemption certificate beyond the original three-year […]

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A bill that became law without the governor’s signature revises the provisions allowing a credit against Hawaii corporate income tax, financial institutions franchise tax, or personal income tax for a portion of the capital infrastructure costs paid or incurred by a qualified infrastructure tenant displaced and relocated by the state pursuant to the Kapalama container […]

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Congress returned to Capitol Hill after the Independence Day recess. Treasury Secretary Steven Mnuchin discussed tax reform. The Senate released a revised health care bill and Senate leadership announced a delay in its upcoming August recess. The IRS reminded tax professionals that cyberthieves are active year-round. Congress Lawmakers discussed the direction of corporate tax reform […]

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House Majority Leader Kevin McCarthy, R-Calif., said on July 14 that the House, at this time, has no plans to delay its August recess. Senate leadership announced a few days prior that it would be delaying its recess until the third week of August to tackle health care reform and other legislative matters (TAXDAY, 2017/07/12, […]

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A New York personal income tax subtraction from federal adjusted gross income has been enacted for certain distributions from an eligible retirement plan made on or after April 1, 2017, and before April 2, 2022. The subtraction will apply only if: (1) the taxpayer’s primary residence was located in the area affected by the disaster […]

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A Louisiana appellate court has affirmed a finding that a parish’s attempt to increase 2016 property tax millages was invalid due to its failure to adhere to statutory notice requirements. The court noted that the adoption of two separate ordinances by a tax recipient body to increase its millage rate in excess of the rates […]

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