Current Federal Tax Developments

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2018-04-09 Focus on States

Current Federal Tax Developments for the week of April 9, 2018 - Focus on States. Current Federal Tax Developments is brought to you by the state CPA societies and Kaplan Professional Education. This week we look at the following items:

  • Supreme Court will shortly hear oral arguments in Wayfair case
  • A number of states increase pressure on out of state sellers
    • Idaho requires collection at $10,000 of sale from any seller that the Supreme Court doesn’t tell us lacks nexus in Wayfair
    • Georgia adds a $200,000/200 transaction tattletale statute
    • Oklahoma puts a $10,000 tattletale statute in place that also impacts referrers
  • New York passes two TJCA SALT limitation workaround statutes - but do they work?
  • IRS issues guidance on three TCJA topics on Monday, including 43 pages on Section 965 transition tax

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2018-04-09 Focus on States Ed Zollars, CPA