KPMG reports: Florida, Virginia

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.

  • Florida: The Department of Revenue issued guidance (a tax information publication) addressing the state’s conformity to the Internal Revenue Code as in effect January 1, 2021. The guidance discusses federal changes under the “Coronavirus Aid, Relief, and Economic Security Act” (CARES Act) and the “Consolidated Appropriations Act, 2021” that Florida did not adopt and describes how taxpayers are to report the associated required adjustments on their Florida corporate income tax returns. Read an August 2021 report

  • Virginia: The Tax Commissioner issued Policy Document 21-74 in which it was concluded that a clothing retailer’s charges for easy return labels and for logo set-up fees were subject to sales and use tax because they were associated with the taxable sale of tangible personal property. Read an August 2021 report

 

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