KPMG reports: Arkansas, South Carolina, Texas, Multistate

KPMG reports: Arkansas, South Carolina, 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.


Related content

  • Arkansas: An Administrative Law Judge concluded that a taxpayer that manufactured items to the specifications of its customers was not entitled to the state’s manufacturing exemption from sales and use tax. Under Arkansas law, a sales and use tax exemption applies to purchases of machinery and equipment used directly in manufacturing “articles of commerce,” but not with regard to “custom items.” Read an April 2020 report

  • South Carolina: A state administrative court held that a bank was not entitled to a net operating loss (NOL) deduction in computing the state’s bank tax liability, finding that the bank tax was not an income tax, but a franchise tax imposed on net income. Read an April 2020 report

  • Texas: The Comptroller issued a private letter ruling with regard to a service fee charged customers who purchased lottery tickets via the taxpayer’s app. The letter ruling concludes the taxpayer was engaged in taxable data processing, and thus that the service fee was subject to sales tax as data processing. Read an April 2020 report

  • Multistate: The Multistate Tax Commission is moving forward with revisions to its “Statement of Information on Public Law 86-272.” The revisions would provide guidance on “how the statute applies to modern business activities,” including selling goods over the internet. Read an April 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