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What was new in October for state sales and use taxes

TaxConnex

The plaintiffs have reportedly said that Louisiana’s patchwork sales tax compliance system is a labyrinth filled with audit traps and now say the case belongs in federal court because Wayfair was ultimately decided in the U.S. The five worst states for business based on sales tax are Alabama, Washington, Louisiana, California and Tennessee.

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What’s Hot on Checkpoint for Federal & State Tax Professionals?

ThomsonReuters

In this edition, we take a look at the recently enacted corporate alternative (book) minimum tax; new elections to convert credits to cash or tax payments; changes to the electric vehicle credit; recent legislation in Kansas, Kentucky, and Missouri; and state taxation of forgiven student loans. Not yet a subscriber?

Kansas 64
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Why Idaho Senator Mike Crapo Largely Controls Bipartisan Tax Bill’s Fate

CPA Practice

Senate GOP Leader Mitch McConnell of Kentucky told NBC he would defer to Crapo on the bill, which would need to advance through the Finance Committee before a vote on the Senate floor, where it would need at least 60 votes to defeat a filibuster. In a statement when Wyden and Smith unveiled their deal on Jan.

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Bipartisan Tax Bill with Child Tax Credit and Business Provisions Fails in Senate

CPA Practice

The bill would revive a trio of business tax breaks, including the full upfront deduction of research and development expenses, and expand the child tax credit to make it more generous to low-income families. In a statement, Sanders, a self-described democratic socialist, said the tax bill was too tilted towards business breaks.

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