CCH Tax Day Report While House and Senate counterparts continue their efforts toward tax reform, a number of discrepancies must be reconciled before a unified plan emerges. What makes an already complicated process more difficult is the lack of agreement among the taxwriters, according to Eric Solomon, Ernst & Young (EY), who spoke at the […]

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CCH Tax Day Report The Trump administration has been criticized by some lawmakers for seeming to focus more on tax cuts than true tax reform after release of its one-page tax plan outline (TAXDAY, 2017/04/21, W.1). Despite the varying rhetoric among lawmakers, however, the administration’s top tax official maintains that true tax reform is the […]

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CCH Tax Day Report Effective September 7, 2017, a chief Texas property tax appraiser may accept a late filing for a residence homestead exemption if it is filed not later than 2 years (currently, 1 year) after the taxes became delinquent. Also, a chief property tax appraiser is required to accept and approve or deny […]

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CCH Tax Day Report Effective May 31, 2017, the small claims jurisdiction limit for Minnesota state tax claims is increased from $5,000 to $15,000. Ch. 95 (H.F. 470), Laws 2017, effective as noted

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CCH Tax Day Report Colorado Gov. John Hickenlooper has signed legislation repealing the business personal property tax credit available against corporate income tax after tax year 2018 and replacing it with a credit for business personal property taxes paid on up to $18,000 of the total actual value of a taxpayer’s business personal property. The […]

The post Colorado ~ Multiple Taxes: Business Personal Property Tax Credit Repealed and Replaced, TABOR Refund Mechanisms Amended appeared first on Tax & Accounting Blog.

CCH Tax Day Report Effective July 1, 2017, the rate of the retail marijuana sales tax will increase to 15%. The rate is currently 10%, and it was previously scheduled to decrease to 8% on July 1, 2017. This increase was granted by voter approval. Additionally, on July 1, 2017, retail sales of marijuana subject […]

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