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KPMG reports: Georgia, Maryland, Michigan

KPMG reports: Georgia, Maryland, Michigan

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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  • Georgia: A state appellate court affirmed a trial court’s decision granting a taxpayer a so-called “freeport property tax exemption” on parts stored in the state before being shipped to out-of-state locations. Under Georgia law, so-called “freeport” exemptions apply to several types of property, including an inventory of finished goods that were stored in a warehouse and destined for shipment to a final destination outside” Georgia. Read a March 2020 report

  • Maryland:  In the legislative session that ended earlier than usual due to the coronavirus—certain tax bills passed both houses of the legislature and are pending consideration by the governor. House Bill 732 [PDF 559 KB] includes provisions that would impose a tax on digital advertising gross revenues. If enacted, effective for tax years beginning on or after December 31, 2020, a new tax would be imposed on annual gross revenues derived from digital advertising services in Maryland.  Another bill, House Bill 932 [PDF 331 KB], would redefine the term “retail sale” to include the sale of certain digital products effective July 1, 2020. Senate Bill 523 [PDF 238 KB]was amended to include a new election for passthrough entities to pay tax at the entity level with respect to resident owners. Read a March 2020 report

  • Michigan: A state appeals court held that the statutory apportionment formula under the former Michigan business tax did not fairly reflect a taxpayer’s income earned in the state on the sale of an out-of-state business. The case was remanded back to the Michigan Department of Treasury to determine an appropriate alternative apportionment method. Read a March 2020 report

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