Share with your friends

KPMG reports: Georgia, Idaho, New York, Oregon

KPMG reports: Georgia, Idaho, New York, Oregon

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.


Related content

  • Georgia: The Department of Revenue issued a letter ruling concluding that while a Canadian company had no U.S. federal income tax because it was exempt from tax under the income tax treaty between Canada and the United States, the company nevertheless could still be subject to Georgia corporate income tax by reason of having positive taxable net income (as a result of any additional modifications required under Georgia law).
  • Idaho: Legislation was recently enacted that retroactively revises the state’s treatment of IRC section 965 income and “global intangible low-taxed income” (GILTI) and that also conforms to the “foreign-derived intangible income” (FDII) measures.
  • New York: Bills presented to the governor contain corporate income tax measures that reflect certain aspects of federal tax reform. The top individual income tax rate of 8.82% would be extended through 2024.
  • Oregon: The Oregon Tax Court held that wholesalers accepting returns “on behalf of” the taxpayer were not protected from Oregon taxation pursuant to Pub. L. No. 86-272.

Read more at KPMG's This Week in State Tax

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Want to do business with KPMG?


loading image Request for proposal