Tax Law

Recent Posts

New Jersey Governor Signs Corporation Surtax Increase Bill, A. 4721
Posted on 2 Oct 2020 by Eversheds Sutherland LLP

On September 29, 2020, Governor Philip Murphy signed A. 4721, the bill extending and retroactively increasing New Jersey’s Corporation Business Tax (“CBT”) surtax. Instead of eliminating the surtax after December 31, 2021, as was previously scheduled... Read More

Taxpayer Privacy Rights Prevail: California Governor Vetoes Controversial California Corporate Tax Disclosure Bill, S.B. 972
Posted on 30 Sep 2020 by Eversheds Sutherland LLP

On September 29, 2020, Democratic Governor Gavin Newsom vetoed S.B. 972 , the controversial taxpayer disclosure bill that would have required the California Franchise Tax Board (FTB) to provide the Legislature annually with the names, tax liabilities... Read More

The Ink is Finally Dry: New York Tax Preparers No Longer Need “Wet Signatures” for E-filing
Posted on 3 Sep 2020 by Eversheds Sutherland LLP

On August 24, 2020, New York Governor Andrew Cuomo signed New York S.8832, a bill authorizing tax return preparers to accept electronic signatures on e-file authorizations for purposes of filing tax documents electronically with the New York Department... Read More

Ohio Updates Sourcing Guidance for Marketplace Facilitators
Posted on 7 Aug 2020 by Eversheds Sutherland LLP

Late last month, the Ohio Department of Taxation updated its existing sourcing bulletin to provide that marketplace facilitator sales into the state are sourced for sales and use tax purposes at the location where a consumer receives an order or service... Read More

Hearing Held on Controversial California Corporate Tax Disclosure Bill
Posted on 13 Aug 2020 by Eversheds Sutherland LLP

On Aug. 11, the California Assembly Appropriations Committee held a hearing on S.B. 972 , a controversial bill that authorizes the disclosure of otherwise confidential taxpayer information. S.B. 972 requires the Franchise Tax Board (FTB) to compile... Read More

Maryland Digital Advertising Tax Hearing Scheduled – January 29, 2020 at 1 p.m. Eastern
Posted on 28 Jan 2020 by Eversheds Sutherland LLP

Earlier this month, Maryland State Senators Miller and Ferguson introduced Senate Bill 2 , which would tax Maryland digital advertising service gross revenues at up to a 10% rate. Earlier today, the Department of Legislative Services issued the Fiscal... Read More

Videocast: Consolidated complexities – state corporate income tax implications of IRC § 163(j)
Posted on 18 Dec 2018 by Eversheds Sutherland LLP

The November 26, 2018, release by the Internal Revenue Service of proposed regulations (REG-106089-18) related to IRC § 163(j) has provided some clarity for federal income taxpayers. But the regulations’ treatment of federal consolidated groups gives... Read More

Legal Alert: Overlooked opportunities? State tax considerations relating to investments in federal qualified opportunity zones
Posted on 2 Nov 2018 by Eversheds Sutherland LLP

The federal Tax Cuts and Jobs Act (TCJA) created a new economic development program designed to spur investment in certain low-income communities designated as “Opportunity Zones.” The new federal tax provisions offer significant opportunities to defer... Read More

Can’t Hardly Wait — Cryptocurrency and State Tax Legislation
Posted on 27 Aug 2018 by Eversheds Sutherland LLP

In this article in the Journal of Multistate Taxation and Incentives , Charlie Kearns and Dennis Jansen provide an overview of those recent state and local tax legislative developments affecting cryptocurrency, including attempts to protect miners or... Read More

House Judiciary Committee Considers Ramifications of Wayfair Decision
Posted on 25 Jul 2018 by Eversheds Sutherland LLP

On Tuesday, June 24, the Judiciary Committee of the US House of Representatives held a hearing on “Examining the Wayfair decision and its Ramifications for Consumers and Small Businesses.” The hearing was scheduled at the direction of Rep... Read More

Top New Jersey Tax Changes in the 2018 Budget Deal
Posted on 6 Jul 2018 by Eversheds Sutherland LLP

In a last-minute deal to avert a government shutdown, New Jersey Governor Phil Murphy and the New Jersey Legislature cobbled together a budget with numerous amendments to New Jersey’s tax law. View the full legal alert. Read More

New Jersey Legislature Passes Corporate Tax Increases, Still Negotiating with Governor
Posted on 28 Jun 2018 by Eversheds Sutherland LLP

In the midst of a budget showdown between New Jersey’s Legislature and Governor Murphy, on June 25, 2018, the Legislature passed a replacement bill that seeks to raise revenue with a temporary Corporation Business Tax “surtax” on corporations meeting... Read More

The Sales Taxation of Virtual Currency
Posted on 14 Jun 2018 by Eversheds Sutherland LLP

Bitcoin and other virtual currencies may be the most controversial financial assets on the market right now and are certainly the most discussed. In their article for  Bloomberg BNA , Eversheds Sutherland attorneys Jonathan Feldman and Christopher Beaudro... Read More

Temporary Storage, Long-Term Exemption: Illinois Department of Revenue Releases Ruling on Temporary Storage Exemption
Posted on 29 Mar 2016 by Eversheds Sutherland LLP

By Charles Capouet and Eric Coffill In Private Letter Ruling ST 15-0016-PLR, the Illinois Department of Revenue explained the application of the temporary storage exemption to the imposition of use tax on the in-state storage of equipment. Illinois’... Read More

Cell Phone Insurance Not Subject to South Carolina Sales Tax
Posted on 16 Dec 2015 by Eversheds Sutherland LLP

By Samantha Trencs and Andrew Appleby A South Carolina administrative law judge (ALJ) determined that cell phone insurance is not subject to South Carolina sales tax even though the wireless provider sells it with taxable communication services. Alltel... Read More