Welcome to the April 2018 issue of the Aprio State & Local Tax (SALT) Newsletter
With dozens of different taxes imposed by the 50 states (and thousands of local jurisdictions), we recognize how challenging it is to keep up with current issues and developments. This newsletter is designed to provide insights on developments in state and local taxes including new legislation, regulations, rulings and cases addressing issues such as corporate and personal income taxes, sales and use taxes, nexus, franchise/net worth taxes, etc.
This issue of the newsletter contains articles concerning (i) significant Georgia legislation passed during the last days of the legislative session, (ii) a Massachusetts letter ruling addressing the impact of a 338(h)(10) election on state tax credit recapture provisions, (iii) an Indiana ruling denying interest deductions by reclassifying intercompany debt as equity, (iv) an Idaho tax commission decision holding that the sale of an LLC membership interest gives rise to apportionable business income, and (v) a Georgia ruling regarding the eligibility of prop purchases/rentals for purposes of the film tax credit.
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If you have any comments, questions or suggestions regarding current or future topics, or if you would like to learn more about Aprio's SALT Practice, please email us at firstname.lastname@example.org. Thank you.
Jeff Glickman, J.D., LL.M.
Partner-in-Charge, State & Local Tax Practice
Georgia Legislature Passes Several Tax Bills During Final Days of 2018 Session
By Jeff Glickman, SALT partner
In the final days of the legislative session, the General Assembly passed significant tax legislation, including sales tax economic nexus and an expansion of the Rural Hospital Tax Credit.
Georgia Issues Film Tax Credit Guidance Addressing Georgia Vendor Requirements
By Tina M. Chunn, SALT senior manager
Production companies in Georgia who purchase or rent property from vendors located in Georgia may not be able to get film tax credits for the cost of obtaining that property if the vendor is really a conduit.
Aprio's State and Local Tax (SALT) practice advises clients on the state and local tax implications of their business operations, allowing clients to strategically minimize their liabilities and risks. Our team has over 50 years of combined SALT experience working in industry, state departments of revenue, public accounting and private law practice. We specialize in all areas of SALT, including matters related to state tax nexus, corporate and personal income taxes, sales/use tax, franchise/net worth taxes, credits and incentives, and mergers and acquisitions. In addition, we represent clients in administrative matters before state revenue departments around the country, including audit defense and settlement negotiations, pursuing voluntary disclosure agreements and obtaining letter rulings.
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