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KPMG reports: Kentucky, Louisiana, Maine, Oregon

KPMG reports: Kentucky, Louisiana, Maine, 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.

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  • Kentucky: A state appeals court affirmed a lower court decision holding that “optional liability fees” charged by rent-to-own companies to cover potential damage by customers to the rental property were not subject to sales tax. The court concluded that the optional liability waivers were not sales of tangible personal property but that they simply granted an intangible right to the purchaser
  • Louisiana: Under Louisiana law, corporations can deduct federal income taxes paid. The Department of Revenue clarified its position that the federal “base erosion and anti-abuse tax” (BEAT) is not included in the calculation of the Louisiana federal income tax deduction.
  • Maine: The governor signed legislation (Senate Bill 481) that repealed the existing Maine unclaimed property law and replaces it with a modified version of the 2016 Uniform Unclaimed Property Act. The new law revamps how “gift obligations” and “stored value cards” are defined. The change will first affect a business’s unclaimed property due diligence and reporting obligations in the fall 2020.  
  • Oregon: Opponents of House Bill 3427—the legislation that adopted a new corporate activity tax (CAT) (effective January 1, 2020)—have ceased pursuing a referendum to repeal the CAT regime.


Read more at KPMG's This Week in State Tax

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