Forty-four states plus the District of Columbia impose an income tax on corporations. In response to the COVID-19 pandemic, 36 of those 45 jurisdictions have established income tax relief to corporate taxpayers in the form of tax payment extensions. Of those 36, most also extended the return filing deadline and…
SeeSALT attorneys Carley Roberts & Mike Le partnered with their Pillsbury tax colleagues Nora Burke & Hannah Hollingsworth to detail the impact of COVID-19 on the IRS and States Extended Tax Payment Deadlines. Takeaways of the recent article include: The IRS announced that individuals and businesses may defer both federal…
Nebraska’s tax department has issued guidance confirming its position that IRC 965 deemed repatriation income: 1) must be included in a taxpayer’s corporate income tax base (less the IRC 965(c) deduction); and 2) does not qualify for the state’s dividends received deduction. Nebraska Dep’t of Revenue, Gen. Info. Letter 24-19-1…
On July 23-24, members of Pillsbury SALT will lead discussions at COST’s much anticipated state and local tax technology workshop in Foster City, Calif. This one-and-a-half day event promises to deliver in-depth state and local tax content tailored to technology businesses—everything from startups to long established companies. The varied presentations…