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KPMG reports: Missouri, New York, Pennsylvania, Texas

KPMG reports: Missouri, New York, Pennsylvania, Texas

KPMG’s This Week in State Tax—produced weekly by KPMG’s State and Local Tax practice—focuses on recent state and local tax developments.


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  • Missouri: The governor’s tax reform plan would: (1) reduce the individual (personal) income tax rate; (2) reduce the corporate income tax rate from 6.25% to 4.25%; (3) require all corporate taxpayers to use single-sales factor apportionment; and (4) eliminate certain tax breaks and close certain loopholes including the current 2% discount that is allowed when vendors timely file their sales and use tax returns or employers timely file and pay their withholding taxes. 
  • New York: The Department of Taxation and Finance issued guidance providing that non-transplantable human tissue transferred to medical facilities and laboratories for use in medical research and training was not subject to sales tax.
  • Pennsylvania: The Secretary of Revenue issued guidance that implements a tax legislative change providing for an enhanced percentage of net operating loss (NOL) limitation for future tax years—35% for tax year 2018 and 40% for tax year 2019 and beyond. 
  • Texas: A tax amnesty program will run from May 1, 2018, through June 29, 2018.


Read more at KPMG's This Week in State Tax

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