Ohio and California Address Income Tax Treatment for Sales of Equity Interests in a Business

Farm land in Ohio

By: Jeff Glickman, SALT Partner At a glance The main takeaway: Ohio enacted a new law and California issued guidance that could create income tax obligations in those states for nonresidents that sell their partnership interests. Impact on your business: For individuals who are selling their businesses, these updates could potentially create multistate tax issues…

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South Carolina Issues Helpful Guidance for Determining Domicile

By: Jess Johannesen, SALT Senior Manager At a glance The main takeaway: Changing the state that you call “home” for income tax purposes isn’t as easy as getting a new driver’s license or updating your mailing address. Impact on your business: In states with limited guidance, taxpayers can use the South Carolina Department of Revenue’s…

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Cryptocurrency Miners are Now Eligible for Kentucky Tax Incentives

By: Jeff Glickman, SALT Partner At a glance The main takeaway: Kentucky recently enacted tax incentives focused specifically on cryptocurrency mining facilities. Impact on your business: Other states are offering similar types of incentives to attract large data centers, which may apply to crypto miners. Next steps: Aprio’s State and Local Tax (SALT) team can…

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New York Businesses: Call-Handling Software is Subject to Sales Tax

By: Jeff Glickman, SALT Partner-in-Charge At a glance: The main takeaway: A recent tax ruling out of New York sheds light on the distinction between taxable software and nontaxable services. Impact on your business: Depending on the type of software your business provides to customers, it could be treated as either taxable or nontaxable, which…

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News for Iowa Businesses: Study.com’s Online Learning Platform is Subject to Sales Tax as SaaS

By: Betsy Goldstein, SALT Manager At a glance The main takeaway: There has been much debate across states regarding the taxability of software and services accessed online. Impact on your business: The Iowa Department of Revenue’s ruling regarding Study.com, and the taxability of its online learning platform as SaaS, has major implications for businesses that…

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