KPMG reports: Illinois, Iowa, New York State, Texas

KPMG reports focus on recent state and local tax developments

KPMG reports focus on recent state and local tax developments

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.

  • Illinois: The Department of Revenue ruled that because neither electricity nor gas services are taxed under the Retailer’s Occupation Tax Act or the Use Tax Act, the recently expanded manufacturing exemption did not apply to purchases of gas and electricity used in the process of manufacturing zinc plating. Read a June 2021 report
  • Iowa: A comprehensive tax bill conforms the state’s tax treatment to federal bonus depreciation for qualified property placed in service on or after January 1, 2021. Read a June 2021 report
  • New York State: Legislation that would expand the state’s False Claims Act to include non-filing taxpayers is pending the governor’s signature. Specifically, a person would be liable under the False Claims Act for knowingly and illegally failing to file New York tax returns if (1) the individual or corporation had net income or sales that are equal to or greater than $1 million for any tax year, and (2) the damages in such action exceed $350,000. Read a June 2021 report
  • Texas: Senate Bill 477 requires marketplace providers to collect certain fees, and addresses the situation when a marketplace is facilitating sales of tickets or admissions. In addition, multiple bills have been enacted in Texas that address tax procedures and administration. Read a June 2021 report

 

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