As states compete to attract data infrastructure investment, Minnesota has used its sales tax exemption for data centers as a key incentive tool. The exemption was enacted in 2011 and codified in Minn. Stat. §297A.68, subd. 42, offering a 20-year refund-based exemption for purchases of qualifying IT equipment and software used in certified data
To fuel the market for IRA credits, proposed Treasury regulations provide that the purchaser will not recognize gain on its use of the credit for federal income tax purposes (which is not
The Mississippi Legislature recently enacted SB 2449 (effective July 1, 2023) to address longstanding issues related to how the state taxes remote software and computer services. What began in 2021 with an effort by the Mississippi Department of Revenue to update and modernize its sales tax regulations (albeit with a significant expansion of the tax
As the usage of Bitcoin, Ether, and other cryptocurrencies proliferates throughout the US economy, it may seem inevitable that a comprehensive regulatory regime will sprout up around these novel assets. Thus far, the regulation has been piecemeal, primarily limited to pronouncements from the Internal Revenue Service (IRS), the Securities and Exchange Commission, and the Office
In anticipation of the upcoming public hearing on Mississippi’s proposed amendments to its sales tax regulation on Computer Equipment, Software and Services, Jones Walker recently submitted a letter to the Mississippi Department of Revenue summarizing a wide range of questions and issues raised by the proposal. These questions were compiled as a result of discussions
UPDATE: In response to widespread interest in these changes, the Mississippi Department of Revenue this afternoon scheduled a public hearing on the proposed amendments. The hearing is set for Wednesday, November 3 at 1:30. Interested parties are encouraged to identify specific questions and issues to present to the Department at the hearing. Jones Walker
On September 24, the Mississippi Department of Revenue filed a proposed amendment to its sales tax regulation on Computer Equipment, Software and Services. This amendment appears to reverse longstanding sales and use tax policy with respect to remote internet-based computer services, and could result in a significant non-legislative tax increase on Mississippi businesses. The notice
The Louisiana Department of Revenue has now issued two new proposed regulations regarding:
Consolidated Sales Tax Returns – Electronic Filing and Payment Requirements:
The
Property Tax Relief for Louisiana Business Property
by Jay Adams and Joe Landry
Reprinted from Tax Notes State, April 27, 2020, p. 537
Volume 96, Number 4 April 27, 2020
Through multiple proclamations, Louisiana Gov. John Bel Edwards (D) ordered that nonessential businesses close their doors or limit their operations, including restaurants, hotels, casinos, retail
In response to increasing pressures on businesses caused by the COVID-19 pandemic, the Louisiana Department of Revenue has issued several Revenue Rulings and Revenue Information Bulletins to extend specific filing and payment deadlines for certain state taxes. On March 19, 2020, the Louisiana Department of Revenue issued Revenue Information Bulletin No. 20-008 to provide guidance