SALT Update - July 2015

August 05, 2015

By Gary Bingel, CPA and David Venanzi

Connecticut Governor Signs Budget Mandating Combined Reporting, NOL Limits, and Other Provisions  

On June 30, 2015, Connecticut Governor Daniel Malloy signed into legislature the biennium budget.  This budget contains major tax changes.  In addition to various personal income tax changes, changes were made to corporate business taxation which now mandates combined reporting and limiting of corporate NOL carry forwards. Click here for more details. 

Massachusetts Governor Enacts 2016 Budget Bill 

On July 17, 2015, Governor Charlie Baker signed the fiscal year 2016 budget bill.  This bill, in addition to various personal tax changes, authorizes a tax amnesty program to start sometime in the 2016 fiscal year.  Click here for more details. 

Ohio Budget Bill Enacts Click-Through Nexus

With the signing of the fiscal year 2016-2017 budget by Ohio Governor John R. Kasich comes click-through nexus provisions.  These provisions are effective July 1, 2015. A presumption is provided that a seller will have substantial nexus in Ohio if the seller enters into an agreement with an instate resident, who for a commission or other consideration, refers potential customers by a link on a website, in-person oral presentation, etc., to the seller.  Click here for more details. 

Washington Enacts Economic Nexus Provisions and Click-Through Nexus Provisions 

Effective September 1, 2015, an out-of-state seller will be presumed to have substantial nexus in Washington if the seller enters into an agreement with a resident wherein the resident will refer customer via link on an internet website or other method for a commission or other consideration.  Click here for more details.

Delaware Makes Changes to Unclaimed Property Laws 

Delaware recently enacted legislature amending its laws regarding unclaimed property.  These changes include changes to its voluntary disclosure program and imposing interest on late-filed unclaimed property.  Click here for more details. 

Kansas Announces Tax Amnesty 

The Kansas Department of Revenue has announced that, beginning September 1, 2015, it will start accepting applications for tax amnesty.  The program will run from September 1, 2015 through October 15, 2015.  Click here for more details. 

Indiana Announces Tax Amnesty 

The Indiana Department of Revenue has announced that it will conduct a tax amnesty program starting September 15, 2015 and running through November 16, 2015.  Click here for more details. 

Vermont Mandates E-Filing

Beginning with the 2015 tax year, effective January 1, 2016, the Vermont Commissioner of Taxes has mandated electronic filing of Vermont Corporate Income, Business Income, and Fiduciary Income Taxes.  This mandate applies to tax practitioners who prepare more than 25 tax returns per year.  Click here for the announcement. 

About Gary Bingel

Gary Bingel's expertise focuses on state and local income taxation, and sales and use tax consulting. He has significant experience serving clients in the manufacturing, retail, pharmaceutical, biotechnology, technology and service industries.

About David R. Venanzi, Jr.

David R. Venanzi, Jr. is a senior accountant in the State and Local Tax Group, providing income tax and sales and use tax consulting.

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