State and Local Taxes

State and Local Taxes newsletter

State and Local Tax Update – June

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Indiana Enacts Economic Sales Tax Nexus Provisions In an effort to curb a seriously eroding tax base and address the state’s inability to effectively collect sales tax from remote sellers, Indiana Gov. Eric Holcomb signed House Bill 1129, requiring remote sellers with no physical presence in Indiana to collect, remit and comply with all applicable

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State and Local Tax Update – January

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States Continue Push towards Economic Nexus for Sales and Use Tax Looking to join Alabama, Louisiana, Oklahoma, South Dakota, and Vermont; 17 states (including Indiana) have introduced legislation in 2017 aimed at enacting economic nexus for out of state sellers. Details Economic nexus is the concept that a minimum amount of activity within or with

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2017 Indiana Tax Rates

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Effective January 1, 2017, Indiana has reduced their tax rates to the following: Individual:  3.23% Corporate:  6.5% Also note that effective January 1, 2017, the local income tax rate imposed by a county is identical for residents and nonresidents subject to a local income tax. This applies to those persons who reside out of state

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Indiana Eliminates “Reverse Credit” Agreement with California

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The Indiana Department of Revenue recently released Indiana Information Bulletin No. IT28 that, among other things, states that California is no longer a “reverse-credit” state effective for the 2017 tax year. In the past, Indiana has had reverse credit agreements with the following states:  Arizona, California, Oregon and Washington D.C.  Indiana residents who earn income

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State and Local Tax Update – December 2016

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Major “Due Date” Changes for 2016 Tax Returns Legislation enacted in 2015 changed the tax return filing dates for corporate, partnership and certain other returns filed for tax years beginning after December 31, 2015. Federal partnership returns (Form 1065) are now due on March 15 for calendar year filers and the 15th day of the third

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State and Local Tax Alert for TN and OH

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Tennessee Department of Revenue Adopts Sales and Use Tax Economic Nexus Rule Summary On October 3, 2016, the Tennessee Department of Revenue adopted Rule 1320-05-01-.129, which establishes a sales and use tax economic nexus standard in the state effective January 1, 2017. Details Sales and Use Tax Economic Nexus: Under Rule 1320-05-01-.129, an out-of-state dealer who

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State and Local Tax Update – Fall 2016

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Indiana Back-to-School Credits and Deductions It’s that time again — school is back in session! As students prepare to return to classrooms and universities across the state, don’t forget that Indiana offers several education related credits and deductions. Check out these ways to maximize the money you’re already spending on education. Save for college —

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State and Local Tax Update – Spring 2016

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The Tangled Web of State Taxes A recent comprehensive state survey by Bloomberg BNA overwhelmingly demonstrates that uniformity and consistency does not exist in state income tax laws, determination of nexus, sales and use tax laws and sourcing of receipts. Perhaps the only consistency is in the complexity, uncertainty and confusion caused by the states’

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State and Local Tax Update – Winter 2016

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Do You Know When You Need State Tax Advice? Just like people, companies often experience life events during the course of their existence. Often times these events can trigger multi-state filings and registration requirements. The following list is a sample of possible business transactions that could trigger the need for additional state filings. Buying, leasing

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State and Local Tax Update – Fall 2015

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INDIANA PERSONAL PROPERTY TAX DATE CHANGE Each year businesses are required to report the cost of their tangible personal property to the local assessor’s office based on the property they have in their possession.  Effective July 1, 2014, the state of Indiana has changed the assessment date for Business Personal Property from March 1 to

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