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KPMG reports: Georgia, Idaho, New York, Oregon

KPMG reports: Georgia, Idaho, New York, Oregon

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: The Department of Revenue issued a letter ruling concluding that while a Canadian company had no U.S. federal income tax because it was exempt from tax under the income tax treaty between Canada and the United States, the company nevertheless could still be subject to Georgia corporate income tax by reason of having positive taxable net income (as a result of any additional modifications required under Georgia law).
  • Idaho: Legislation was recently enacted that retroactively revises the state’s treatment of IRC section 965 income and “global intangible low-taxed income” (GILTI) and that also conforms to the “foreign-derived intangible income” (FDII) measures.
  • New York: Bills presented to the governor contain corporate income tax measures that reflect certain aspects of federal tax reform. The top individual income tax rate of 8.82% would be extended through 2024.
  • Oregon: The Oregon Tax Court held that wholesalers accepting returns “on behalf of” the taxpayer were not protected from Oregon taxation pursuant to Pub. L. No. 86-272.


Read more at KPMG's This Week in State Tax

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