Military retirees and surviving spouses may experience a larger tax deduction from their military retirement funds this individual income tax season due to a 2019 Indiana tax law. On February 1, the Indiana Department of Revenue (DOR) issued information
While more than 20 states automatically conform (also known as “rolling conformity”) to federal law changes, the remaining states have either “selective” conformity or “static” conformity where legislation is required to conform to Federal law changes. While the CARES
There is no uniformity among states regarding state conformity to the CARES Act, which was passed on March 27, 2020. Currently, Indiana does not conform. Indiana is a static conformity state, which means Indiana doesn’t automatically follow changes to the Internal Revenue Code
In a welcome notice released on November 9, 2020, the IRS announced that proposed regulations will be issued to clarify that state and local income taxes imposed on and paid by a partnership or an S corporation (i.e., pass-through entities
All states that administer individual income tax have made adjustments to their filing or payment deadlines with returns being due July 15 or later EXCEPT three states: Virginia: Corporate Tax due April 15, 2020 Individual Tax due May 1, 2020
The Indiana Department of Revenue (DOR) on May 15 issued a blog advising individual income taxpayers to do a withholding check-up, especially if they owed taxes this year. The DOR explains withholding starts with Form W-4, which is filled
A new law signed by the governor on May 1, 2019 revised Indiana’s sourcing rules for apportionment of services and intangible products moving from a “Cost of Performance” sourcing method to a “Market-Based” sourcing method. With regard to corporations (including
Retailers who make sales into other states, but do NOT collect and remit sales tax due to lack of nexus, are now required to comply with reporting requirements in numerous states. Not only are states attempting to increase sales
The Multistate Tax Commission (MTC) recently announced its Online Marketplace Seller Voluntary Disclosure Initiative. This is a special limited-time sales/use tax and income/franchise tax amnesty program for online sellers which will run from August 17 to October 17, 2017. During
Efforts to simplify Ohio’s burdensome municipal tax filings continue as Governor John Kasich recently signed legislation which will give businesses the option of electing to have the State administer their municipal income tax filings, rather than filing with each municipality.
In early July, the Illinois Senate and House overrode Governor Rauner’s veto and passed its first state budget since fiscal year 2015. This bill included a large increase in the individual and corporate income tax rates retroactive to July
An often overlooked filing obligation by out-of-state companies who are unaware of Ohio’s tax structure and how it may apply to their business, is the Ohio Commercial Activity Tax (CAT). This is a tax imposed on business entities for
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