Business Tax Quarterly Suggested Readings - Fall 2018

Wayfair

State of Wayfair: Bill Before Congress Sets Limits on Collection

In the aftermath of the Wayfair ruling, few are expecting Congress to wade back into the waters of absolutely allowing states to compel remote sellers to collect and remit states sales and use taxes—or to definitively prevent them from doing so. But refining how they do it might be another matter.

Don’t Look Now, but States Already Are Requiring Online Sellers to Collect Sales Tax

Seven states are imposing the new rules on out-of-state online and catalog sellers, and ten will start Oct. 1. Two others will require collections or reporting later this year, and four more will do so starting Jan. 1, 2019.

State of Wayfair: Massachusetts Looking Back

Massachusetts appears to be the only remaining state that intends to pursue retroactive enforcement of its collect-and-remit tax requirement on remote sellers in the wake of the groundbreaking U.S. Supreme Court ruling in South Dakota v. Wayfair Inc.

State Response to TCJA

New York, Connecticut Taxpayers Have Plan B Options to Beat SALT

The back-up plans are still risky—each with their downsides—and it’s possible the IRS could ultimately block them, too. For some taxpayers, though, the tax pain is too great not to at least try.

Tax Cut 2.0 Bill Unveiled by House GOP Ahead of Election Push

GOP leaders decided to proceed with the legislation even though it puts their members in high-tax states in the tricky spot of either supporting a new cap on state and local tax deductions, or voting against tax cuts backed by their party.

Some Small-Business Owners Could Avoid Cap on State and Local Tax Deduction After IRS Clarifies New Rules

Small-business owners might be able to avoid a new federal limit on state and local tax deductions after the Internal Revenue Service said rules it recently released to prevent efforts in California and other states to circumvent the cap apply only to individuals.

A Massive Survey Ranked All 50 States by How ‘Friendly’ They Are to Small Business (There Are Some Big Surprises)

Among the categories used in the rankings: how easy it is to start a business and hire people, along with taxes, training, licensing, labor regulations, and government websites. The survey also ranked the top 57 cities in the U.S.

Business Tax Quarterly - Fall 2018

• Business Tax Quarterly Executive Summary
• The Wayfair Sales Tax Ruling -- Surprises and How to Cope
• Are You Prepared to Respond to Varying State Tax Changes?
• Business Tax Quarterly Suggested Readings