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KPMG reports: Louisiana, San Francisco, Texas

KPMG reports: Louisiana, San Francisco, 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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  • Louisiana: Newly enacted legislation in June 2019 provides that concerning net operating losses (NOLs) carried over from multiple tax years, the carryover NOLs are to be applied beginning with the loss for the earliest tax year first. 
  • San Francisco: A ballot measure that would increase taxes on certain persons and combined groups engaging in business in the city would, if approved, impose an additional tax (known as the mental health gross receipts tax) on persons and combined groups doing business in the city if their executive pay ratio exceeds 100:1.
  • Texas: A state appeals court held that a taxpayer operating an aquarium was not selling tangible personal property and was not entitled to deduct costs of goods sold (COGS) in computing its Texas margin tax liability. The court rejected the taxpayer’s claim that the “sensory immersion experience” offered to its customers in exchange for their payment of admissions and membership fees constituted the sale of “tangible personal property.”

Read more at KPMG's This Week in State Tax

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