CCH Tax Day Report New Hampshire has amended its credit against the business profits tax and the business enterprise tax for donations to scholarship organizations. The amendments extend the due date that a business has to submit an education tax credit application to the Department of Revenue Administration to November 15 (previously June 15). Further, […]

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CCH Tax Day Report On June 7, 2017, the Michigan Supreme Court issued an order denying an application for leave to appeal in Andersons Albion Ethanol, LLC v. Department of Treasury, Michigan Court of Appeals, No. 327855, September 13, 2016. (TAXDAY, 2016/09/15, S.4) The order states that the appeal was denied because the court was […]

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CCH Tax Day Report The Kansas Legislature has overridden Gov. Sam Brownback’s veto of a bill that makes a number of changes to personal income taxes, including repealing the exemption for non-wage business income and increasing personal income tax rates. Personal Income Tax Rates Under the legislation, personal income tax rates would be increased beginning […]

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CCH Tax Day Report The sunset date for the STAR Bond Financing Act is extended from July 1, 2017, to July 1, 2020, for Kansas sales and use tax purposes. Moreover, there is a moratorium on the approval of new STAR Bond districts for the first year of that extension, but cities or counties with […]

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CCH Tax Day Report The government’s suit to collect unpaid estate tax, interest, and penalties from the beneficiaries of the estate personally and as an executor was timely because the limitations period was suspended during the period from when the beneficiaries’ request for due process hearing was received until the date that the request was […]

The post Collection of Estate Tax Was Timely; Duty of Consistency Applied to Suspend Limitations (Holmes et al., CA-5) appeared first on Tax & Accounting Blog.

CCH Tax Day Report The Tax Court properly dismissed for lack of jurisdiction a petition challenging a notice of Final Partnership Administrative Adjustment (FPAA) because the small-partnership exception in Code Sec. 6231(a)(1)(B)(i) did not apply. An individual and his father formed an LLC, which was treated as a partnership, and held their respective interests in […]

The post Petition Challenging FPAA Not Filed by Tax Matters Partner; Tax Court Lacked Jurisdiction (Seaview Trading, LLC, CA-9) appeared first on Tax & Accounting Blog.