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KPMG reports: Alabama, Florida, New York, South Carolina, Texas

Alabama, Florida, New York, South Carolina, 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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  • Alabama: The Department of Revenue issued guidance on the state’s treatment of amounts required to be included in income under IRC section 965. 
  • Florida: The Department of Revenue issued guidance on the state’s corporate income tax treatment of repatriation income under IRC section 965.
  • New York: The Department of Taxation and Finance and the New York City Department of Finance issued guidance offering a limited opportunity and providing a procedure for withdrawing a commonly owned group election made on a 2015 or 2016 general business corporation combined franchise tax return. 
  • South Carolina: A state administrative law judge ruled a taxpayer who offered a package consisting of bartending services and alcohol at customer events was selling tangible personal property at retail and therefore was required to collect and remit sales tax.
  • Texas: The Comptroller of Public Accounts issued a private letter ruling that found single-member LLCs wholly owned by a tax-exempt IRC section 401(a) pension trust (i.e., a federally disregarded LLC) must file franchise tax reports.


Read more at KPMG's This Week in State Tax

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