close
Share with your friends

KPMG reports: Arkansas, Massachusetts, New York

KPMG reports: Arkansas, Massachusetts, New York

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.

1000

Related content

  • Arkansas: The Office of Hearings and Appeals upheld the imposition of use tax on the original purchase price of a trailer. The trailer was purchased and used outside Arkansas for seven years before the taxpayer brought it to Arkansas. However, because the taxpayer did not prove that tax was paid earlier, the assessment was upheld. Read a January 2020 report

  • Massachusetts: The governor’s proposed budget would require retailers that collect more than $100,000 in sales tax annually to begin remitting taxes from the first three weeks of the month in the final week of the same month. Remittances for the final week and reconciliation of the monthly filing would continue to occur in the following month. Moreover, the second phase of the proposal would require retailers and credit card processors to capture sales tax at the moment of purchase and remit taxes on credit card and other electronic transactions on a daily basis. This real-time remittance would begin in 2023. The governor has previously advocated for similar changes. Read a January 2020 report

  • New York: Proposed legislation introduced in the state legislative Assembly, if enacted, would impose a 5% tax on the gross income of “every corporation that derives income from the data that New York individuals share with the corporation.” The bill provides few details on how to compute the tax, but does specify that revenues raised by the measure would be deposited into a newly created “New York data fund,” with a portion of the funds to be disbursed back to New York taxpayers. There is a similar bill pending in the state Senate. Read a January 2020 report

The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained 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