SeeSALT BlogThe SALT team briefs the outcomes of the first meeting of the Multistate Tax Commission (MTC).
Read More: Model Receipts Sourcing Regulations Work Group’s Curious First Meeting(pillsburylaw.com)
Articles Posted in Issues
2022 Annual Meeting of the California Tax Bar and California Tax Policy Conference
Posted
Pillsbury SALT partner Carley Roberts will be presenting at the Annual Meeting of the California Tax Bar and California Tax Policy Conference on November 3.
Industry Trade Association Sues California Franchise Tax Board Over “Radical” New Interpretation on Scope of Public Law 86-272 Post-Wayfair
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The American Catalog Mailers Association (ACMA), which describes itself as the nation’s leading industry trade association advocating for catalog, online, direct mail, and other remote-selling merchants and their suppliers, has filed suit against the California Franchise Tax Board (FTB) in the San Francisco County Superior Court of California.
ACMA’s complaint seeks a judicial declaration that the FTB’s 2022 publicly-issued guidance related to Public Law 86-272 (PL 86-272) – specifically, Technical Advice Memorandum (TAM) 2022-01 and FTB Publication 1050 – are invalid because (1) they contradict PL 86-272 and the U.S. Constitution; and (2) the FTB did not properly follow the California Administrative Procedure Act’s required rulemaking process before publishing such guidance. In the alternative, ACMA seeks a judicial declaration that the FTB’s new guidance applies on a prospective basis only. ACMA also seeks attorney’s fees and costs of suit for bringing the action to enforce an important right affecting the public interest.
Pennsylvania Legislation Provides Updates to Corporate Income Tax Law
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The Pennsylvania Governor signed H.B. 1342 to enact changes to the state’s corporate income tax.[1] 
The legislation modifies the corporate income tax in three ways: (1) adopts a bright-line economic nexus standard; (2) adopts market sourcing for receipts from intangibles; and (3) reduces the corporate tax rate and gradually continues to reduce the rate over the next eight years. Continue Reading ›
Inflation Reduction Act of 2022 Includes New Corporate Tax Provisions
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Our federal tax colleagues analyzed the corporate tax provisions in the Inflation Reduction Act, including the 15-percent minimum tax on corporations and the excise tax on stock buybacks.
Read More: Inflation Reduction Act of 2022 Includes New Corporate Tax Provisions (pillsburylaw.com)
Wichita Property Tax Conference
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Pillsbury partners Breann Robowski and Jorge Medina will be participating in the Wichita Property Tax Conference taking place on July 24-28.
Continue Reading ›
California Court Holds Nonresidents’ Pass-through Income from Intangibles Is Taxable if It Is Classified as Business Income at the Entity Level.
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The California Court of Appeal held a nonresident S corporation shareholder’s pro rata share of gain on the sale of goodwill classified as business income by the S corporation has a California source and is subject to tax for personal income tax purposes to the extent of the S corporation’s California apportionment formula and is not sourced 100 percent to the nonresident shareholder’s domicile. Continue Reading ›
2022 Summer Tax Institute
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Pillsbury SALT partner Robert P. Merten III will be participating as an instructor in the 2022 Summer Tax Institute put on by the UC Davis School of Law.
2022 CalTax Foundation Webinar Series
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Pillsbury SALT partner Breann Robowski will participate in the CalTax webinar series on June 7.
CalTax’s 96th Annual Meeting
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Pillsbury SALT partner Carley Roberts will be participating in a panel discussion on income tax at the CalTax Annual Meeting on June 2. 