Posts by Jess Johannesen
Georgia Tax Credits Fuel Booming Esports Industry
For four days in January, about 3,000 people descended on the Cobb Energy Performing Arts Centre just north of Atlanta. Most traveled from outside Georgia to watch professional video-game players compete for prestige, bragging rights and prize money in games designed by Hi-Rez Studios, a firm headquartered in the Atlanta suburbs that designs multiplayer video…
Read MoreMassachusetts Rules that Credit Recapture Applies in a §338(h)(10) Transaction
When purchasing or selling a business, don’t ignore the potential state income tax impacts of a 338(h)(10) election. By Jess Johannesen, SALT manager In the context of business acquisitions, a corporation can purchase either the stock of another corporation (i.e., the target) or the assets of that corporation. From an income tax perspective, the buyer…
Read MoreTexas Rules That Reseller of Voice and Data Services Is Not Selling an Intangible Asset for Apportionment Purposes
Ruling highlights the importance of properly characterizing revenue streams for apportionment purposes, since different revenue streams get sourced differently By Jess Johannesen, SALT manager In an article from our January 2018 SALT Newsletter, we addressed a Texas private letter ruling that provided guidance when sourcing wireless voice and data services for sales and use tax…
Read MoreColorado Issues Guidance on Application of Factor Presence Nexus Rules
A taxpayer may have nexus in Colorado if more than $500,000 of its sales are sourced to the state, even if the taxpayer does not have a physical presence there. By Jess Johannesen, SALT manager Several states, including Colorado, have enacted laws in which out-of-state companies can establish income tax nexus without any physical presence…
Read More