In the 2022 Louisiana Regular Legislative Session, the Louisiana Legislature enacted Act 410, modifying the deadlines for filing partnership, fiduciary, and corporate income tax returns. Specifically the Act obsoleted the process by which most taxpayers obtained extensions of time to file. These changes were then implemented by the Louisiana Department of Revenue (the Department) in final
The New York Budget Bill, SB.4009/A.B.3009, introduced on Sunday includes a provision allowing the NYS Department of Taxation and Finance (“Department”) to appeal determinations of the Tax Appeals Tribunal to the New York State Appellate Division under certain circumstances. Currently, the Tax Law allows only the taxpayer to appeal determinations of the Tax
Governor Tate Reeves this week signed into law H.B. 549 to enact a new sales tax exemption for items manufactured in the state and exported for first use in another state, regardless of the party or means by which those goods are delivered. While Mississippi already offered a broad 48-hour vehicle export exemption and also
The Mississippi House of Representatives yesterday amended S.B. 2449 to adopt comprehensive provisions regarding the sales and use taxation of remote software and related services.
This amendment codifies the Department of Revenue’s existing regulation that “computer software maintained on a server located outside the state and accessible for use only via the Internet is not
The Mississippi Legislature has taken up two bills this session [HB 1668 / SB 3102] intended to correct several technical issues contained in last-year’s pass-through entity (“PTE”) election legislation. See our prior coverage of the original PTE legislation here and here, as well as concerns about estimate payment penalties here.
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At the Supreme Court early with my great friend Pat Reynolds of COST. Following National Pork Producers case, will it be a sleeper SALT case? Will Pike balancing test be toast? Is the dormant Commerce Clause really a “dead letter”? Looking forward to watching my first oral arguments.
Addendum – Estimated Tax Payments: Just after our article went to press, we received some informal guidance from the DOR regarding estimated tax payments that presents a bit of a conundrum for those considering the PTE election. As explained below, it may be necessary to make duplicate estimated payments at both the entity
This year, a number of state legislatures considered and passed legislation that creates a pass-through entity (PTE) tax as a workaround to the $10,000 cap on the state and local tax (SALT) itemized deduction. Nearly 30 states have enacted a PTE tax. Mississippi is one of the more recent states to join the ranks.
Beginning
For anyone interested in Louisiana property tax issues, the Louisiana Tax Commission has given notice of the dates for its annual Rules and Regulations hearings. Any interested party can submit a proposal to amend the current regulations to the Commission during this process. The Commission accepts written proposals that are presented in an open Commission
Mississippi recently passed a SALT cap workaround in the form of a flow-through entity election. Consistent with the roughly 26 other states having adopted similar schemes, the Mississippi bill presents several grey areas and questions that will need to be addressed through Department of Revenue guidance or possible technical corrections.
H.B. 1691, signed into