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This podcast for the week of November 5, 2018 covers state and local tax developments in Ohio, South Carolina, Washington, and a Multistate update on the Wayfair decision.

All of this week’s TWIST episodes

Insight

OH: Exemption from Unclaimed Property Extended to Rewards Cards and Additional Gift Cards

On October 23, 2018, Ohio Governor John Kasich signed House Bill 353 into law.

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Insight

SC: Administrative Law Court Holds Banks Cannot Deduct NOL Carryforwards

Recently, the SC ALC addressed an issue of first impression in the state—whether a bank could deduct NOLs in computing SC bank tax.

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Insight

WA: Video Game Hardware and Software not Like-Kind Property

The Washington Court of Appeals recently addressed the scope of the so-called trade-in exclusion.

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Insight

Multistate: More State Wayfair-Related Developments

Effective November 1, 2018, NJ, NC, SC, and SD joined the list of states requiring remote sellers meeting specified economic nexus thresholds to collect and remit applicable sales and use tax.

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The following information is not intended to be “written advice concerning one or more Federal tax matters” subject to the requirements of section 10.37(a)(2) of Treasury Department Circular 230.

The information contained herein is of a general nature and based on authorities that are subject to change. Applicability of the information to specific situations should be determined through consultation with your tax adviser.