LexisNexis® Legal Newsroom
California Taxpayers Whipsawed!

QSBS Exclusion, Deferral Statutes Unconstitutional In August 2012, California's Second District Court of Appeal determined that the "qualified small business stock" (QSBS) exclusion and deferral statutes were unconstitutional. See Cal. Rev. & Tax. Code Sections 18038.5 and 18152...

Multistate Tax Compact: Is the End Near?

On March 8, 2013, South Dakota Governor Dennis Daugaard signed Senate Bill 239, which repealed all provisions of the Multistate Tax Compact from South Dakota law. While South Dakota does not have an income tax and didn't participate in the Multistate Tax Compact's Audit Program, the move to repeal...