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Mar 25, 2024 | 
lexology.com | Elizabeth S. Cha |Madison Ball
The Missouri Administrative Hearing Commission held that real-estate investment trust (REIT) dividends from sources within Missouri are deductible from Missouri income. The decision involved a REIT that generates income from mortgages secured by real property. The REIT made distributions of profits derived from sources within Missouri to its controlling interest holder.
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Mar 7, 2024 | 
lexology.com | Todd Betor |Michele Borens |Elizabeth S. Cha |Jonathan Feldman |Jeffrey Friedman |Ted Friedman | +6 more
This year’s Georgia’s legislative session is quickly progressing, with some major tax legislation moving towards passage. Last Thursday, February 29, 2024 was “Crossover Day”—the 28th legislative day of 40 total legislative days—the day by which all bills must have passed one legislative chamber to cross over for consideration by the other chamber.
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Feb 26, 2024 | 
lexology.com | Todd Betor |Michele Borens |Elizabeth S. Cha |Jonathan Feldman |Jeffrey Friedman |Ted Friedman | +6 more
On February 14, 2024, the California Office of Tax Appeals (OTA) denied the California Franchise Tax Board’s (FTB) request for rehearing in the Appeal of Microsoft Corporation and Subsidiaries (OTA Case No. 21037336). Microsoft is allowed to include 100 percent of its foreign dividend income in its sales factor denominator. This is a huge opportunity for similarly situated California water’s-edge taxpayers.
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Dec 27, 2023 | 
lexology.com | Elizabeth S. Cha
The Tennessee Chancery Court for the Twentieth Judicial District held that software licenses are intangible property and thus the gross receipts from their sale are not subject to tax under Tennessee’s Business Tax Act. The taxpayer is a software company engaged in the business of selling and licensing software used for various corporate and back office tasks.
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Dec 27, 2023 | 
lexology.com | Todd Betor |Elizabeth S. Cha |Ted Friedman |Cyavash Ahmadi |Madison Ball |Jeremy Gove | +1 more
On December 27, 2023, the New York State Department of Taxation and Finance (Department) officially adopted the business corporation franchise tax regulations it submitted to the State Register on August 9, 2023 – marking the final step in the State Administrative Procedure Act (SAPA) process to implement regulations regarding the state’s corporate tax reform that was enacted nearly a decade ago.
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Nov 2, 2023 | 
lexology.com | Todd Betor |Michele Borens |Elizabeth S. Cha |Jonathan Feldman |Jeffrey Friedman |Ted Friedman | +22 more
This is the third edition of the Eversheds Sutherland SALT Scoreboard for 2023. Since 2016, we have tallied the results of what we deem to be significant taxpayer wins and losses and analyzed those results. Our entire SALT team hopes that you have found the SALT Scoreboard’s content useful. This edition includes discussions of forced combined reporting and a state False Claims Act, as well as a spotlight on Ohio cases.
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Aug 10, 2023 | 
lexology.com | Todd Betor |Michele Borens |Elizabeth S. Cha |Jonathan Feldman |Jeffrey Friedman |Ted Friedman | +20 more
On August 9, 2023, the New York State Department of Taxation and Finance (Department) submitted its draft corporate franchise tax regulations for publication in the State Register – a significant and necessary step in the State Administrative Procedure Act (SAPA) process to formally adopt regulations related to the sweeping reform of the state’s Corporation Franchise Tax that was enacted nearly a decade ago.
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Aug 9, 2023 | 
lexology.com | Todd Betor |Michele Borens |Elizabeth S. Cha |Jonathan Feldman |Jeffrey Friedman |Ted Friedman | +19 more
This is the second edition of the Eversheds Sutherland SALT Scoreboard for 2023. Since 2016, we have tallied the results of what we deem to be significant taxpayer wins and losses and analyzed those results. Our entire SALT team hopes that you have found the SALT Scoreboard’s content useful. This edition includes discussions of retroactive laws and manufacturer-specific apportionment formulas, as well as a spotlight on digital services cases.
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Aug 2, 2023 | 
lexology.com | Elizabeth S. Cha |Jeremy Gove
The Colorado Department of Revenue issued a private letter ruling concluding that a taxpayer’s income arising from the sale of Colorado real property is apportionable income because the property was used in the taxpayer property rental business. However, the proceeds from such sales are not “receipts” and thus not included in its Colorado apportionment factor calculation because the sale of the property did not occur in the regular course of the taxpayer’s business.
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May 9, 2023 | 
lexology.com | Todd Betor |Michele Borens |Elizabeth S. Cha |Jonathan Feldman |Jeffrey Friedman |Ted Friedman | +21 more
This is the first edition of the Eversheds Sutherland SALT Scoreboard for 2023. Since 2016, we have tallied the results of what we deem to be significant taxpayer wins and losses and analyzed those results. Our entire SALT team hopes that you have found the SALT Scoreboard’s content useful. This edition includes discussions on costs of performance sourcing and credit utilization, as well as a spotlight on sales and use tax cases.
