TWIST - November 25, 2013

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Date: Nov. 25, 2013

From TaxWatch

In this edition of TWIST for the week of November 25, 2013, State and Local Tax professional Sarah McGahan, from KPMG's Washington National Tax practice, covers the topics listed below.  You can also listen to TWIST podcasts directly via iTunes.

  • New York - Recently, the New York State Reform and Fairness Commission issued a 157-page report recommending certain changes to New York’s tax regime.  Listen | Read

  • Oklahoma - On November 18, 2013, legislation (S.B. 1140) was prefiled that attempts to addresses infirmities with a statute providing a deduction for certain capital gains included in federal taxable income.  Listen | Read

  • Pennsylvania (Philadelphia) - On November 18, 2013, the Pennsylvania Commonwealth court affirmed Tax Board and trial court rulings, addressing overpayments of Philadelphia’s Business Privilege Tax (now renamed the Business Income and Receipts Tax) as a result of IRS adjustments to federal taxable income.  Listen | Read

  • Tennessee - Recently, the Tennessee Department of Revenue issued a notice addressing the franchise/excise tax treatment of single-member limited liability companies (SMLLCs).  Listen | Read



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