Press Room: Tax Releases

October 17, 2023

No Demise for Washington’s Excise

The Washington State Supreme Court in Quinn v. Washington recently upheld the state’s 7% excise tax on certain capital gains exceeding $250,000 in a calendar year. As a result, individual taxpayers in a ...

October 17, 2023

Hot Topics in Unclaimed Property

All U.S. states, the District of Columbia, Puerto Rico, and the Virgin Islands have laws requiring businesses to report and remit unclaimed property. The funds from unclaimed property compliance filings, amnesty programs, ...

October 17, 2023

More States Go With the Flow (PTET Update)

Let’s take a trip down memory lane. The year is 2017, President Trump is in office, and the Tax Cuts and Jobs Act (TCJA) is signed into law. Among a myriad of ...

October 17, 2023

More States Eye Taxes on Retail Delivery Fees

In recent years, the shift from brick-and-mortar retailers to the digital marketplace has spurred innovations but also some headaches for consumers and businesses alike. Now, more than ever, consumers are likely to shop ...

July 27, 2023

Navigating the Updated Required Minimum Distribution Rules for IRAs Inherited After 2019

This release provides further updates to Andersen’s for the Record Q2 Newsletter article available here. The Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act), signed into law on ...

March 15, 2023

Multistate Businesses Can Benefit from Reviewing Nexus With an Eye on Due Process Protections

In Online Merchants Guild v. Hassell, Secretary of Revenue (Online Merchants Guild), the Commonwealth Court of Pennsylvania found merchants selling through the Fulfillment by Amazon (FBA) program are not required to collect and ...

March 15, 2023

State Income Tax: Life After Wayfair - an ASC 740 Perspective

ASC 740 Provision for Income Taxes requires taxpayers to determine, more likely than not, if their in-state activity results in an income tax liability. This issue has become increasingly sensitive since 2018, when the United ...

March 15, 2023

M&A Sales Tax Traps for the Unwary

Sales tax consequences of mergers and acquisitions (M&A) are often overlooked. Potential sales taxes, both upon the transaction itself and historical liabilities, become material issues if not addressed during the due ...

March 15, 2023

What the L? Local Taxes Deserve Attention!

While most people are aware of the state part of state and local tax (SALT), many are less familiar with local taxes and often overlook them. Local taxes take many different forms, and ...

March 15, 2023

Wealthy Taxpayers and Telecommuters Are Prime Targets for States Looking to Fill Coffers in 2023

Over the past few years, state and local governments have received a financial boost from federal aid related to the COVID-19 pandemic and surprisingly robust tax revenues. However, some jurisdictions are still searching ...