New York should source hedge fund services to investors' locations instead of to where a contract is managed to better align its regulations with the state's market-based sourcing tax rules, the New York State Bar Association's Tax Section said. SeptemNY Bar's Tax Section Suggests Hedge Fund Sourcing Change.The Michigan Supreme Court declined to hear a fuel company's claims that it is entitled to a gross receipts tax deduction for delivery charges that weren't specifically stated in contracts for the company's coal purchases. Justices Won't Hear Co.'s Plea To Deduct Delivery Costs New York would exclude from taxation the forgiveness of certain federal student loan amounts under a bill introduced in the state Senate. SeptemNY Bill Seeks To Exclude Some Forgiven Loans From Taxation.SeptemEversheds Sutherland Recruits Transfer Pricing Tax CounselĮversheds Sutherland added to its tax practice group a senior counsel with more than 30 years of experience in transfer pricing, the firm announced.The Internal Revenue Service on Friday released corrections to final rules for states seeking return information about tax-exempt organizations from the agency to manage state-level laws about those groups. SeptemIRS Corrects Rules For Disclosing Nonprofit Info To States.Ohio would automatically extend filing deadlines to match federal extensions granted to pass-through entities that elect to be taxed at the entity level under a rule amendment filed by the state tax department for review by a state panel. Court Nixes Underpayment Interest On Nonresident SaleĪn Oregon nonresident is not liable for interest on the underpayment of estimated tax on a home sale because she was not required to make estimated tax payments, a tax court magistrate said.
SeptemNM's Proposed Digital Ad Regs Burdensome, Biz Group SaysĪ proposed change to New Mexico's gross receipts tax that would clarify that digital advertising services are subject to the tax threatens to add another layer of complexity to already burdensome tax laws, the Council on State Taxation said.
Tax Commission Denies Trust's Bid To Cut Property ValueĪ residential property in Missouri that was transferred to a revocable living trust was properly valued at $630,000, the state tax commission ruled Friday, affirming a county equalization board's decision and rejecting the trust's appeal to lower the value.
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