CCH Tax Day Report The House approved a bipartisan nuclear production tax credit bill on June 20 by voice vote. HR 1551 was approved by the House Ways and Means Committee on June 15 (TAXDAY, 2017/06/16, C.1). HR 1551 would amend Code Sec. 45J to modify the credit for production from advanced nuclear power facilities. […]

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CCH Tax Day Report House Speaker Paul Ryan, R-Wis., delivered what he called his “first major speech on tax reform” at the National Association of Manufacturers (NAM) 2017 Manufacturing Summit on June 20 in Washington, D.C. Ryan discussed both the timeline of reform and some details that will be seen in a yet-unveiled tax reform […]

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CCH Tax Day Report A Wisconsin Department of Revenue news release notes that the Wisconsin sales and use tax exemption for prescription drugs has not changed, and prescription drugs remain exempt. Some Wisconsin residents have been receiving letters from insurance companies or pharmacies indicating that sales of prescription drugs will now be subject to sales […]

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CCH Tax Day Report The State of Washington has asked the U.S. Supreme Court whether an 1855 treaty with an Indian Tribal Nation creates a right for tribal members to avoid state motor fuel taxes on off-reservation commercial activities that make use of public highways. The Court was asked to review a decision of the […]

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CCH Tax Day Report The Virginia Tax Commissioner ruled that an on-line business located outside Virginia has sufficient nexus with Virginia to require it to register for the collection and remittance of the Virginia retail sales and use tax. The taxpayer represents that it maintains no employees, offices, business locations, or warehouses in Virginia. The […]

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CCH Tax Day Report A joint session of the Massachusetts General Assembly approved a proposed amendment to the state constitution that would impose an additional income tax of 4% on resident individuals who report annual taxable income over $1 million. If approved by voters, the tax would apply to tax years beginning on or after […]

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