Aprio-R

State & Local Tax news

September 2020

Welcome to the September 2020 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 addressing:

In case you missed prior issues of this newsletter, please click here

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 me at [email protected]. Thank you.

Jeff Glickman
Jeff Glickman, J.D., LL.M.
Partner-in-Charge, State & Local Tax Practice
 
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Georgia: Summary of Significant Tax Legislation During 2020 Session

By Jeff Glickman, SALT Partner

The Georgia legislature produced several tax bills during 2020, including favorable changes to its jobs tax credits that should help companies in 2020 and 2021 that have experienced a workforce reduction due to COVID-19.    

 
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Sale of Partnership Interest is Taxable under New York City’s General Corporation Tax

By Kristen Mantilla, SALT Associate

The New York City Tax Tribunal sided with the City in ruling that the sale of a partnership interest by a corporation located outside New York should be included in income reported to the City based on the aggregate theory of partnerships, and that the City was not bound by federal principles (at that time) to the contrary.

 
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Virginia Rules That Separate Charges for Photo Booth Rentals in Party Services Contract Were Taxable

By Betsy Tuck, SALT Manager

When vendors sell property and services for a single price or pursuant to a single contract, it is important to understand the sales tax implications and how the “true object” test may or may not apply, as explained in this Virginia tax ruling.

 

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Sale of GoDaddy Interest Generated Apportionable Business Income in Minnesota

By Jess Johannesen, SALT Senior Manager

A recent Minnesota Supreme Court decision highlights the principle that when a taxpayer receives income from the sale of an equity interest or of assets in an entity with which it conducts a unitary business, it is difficult to argue successfully that the income is not apportionable business income.  

 

About Aprio's State and Local Tax Practice

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.