TWIST - January 14, 2019

This podcast for the week of January 14, 2019, covers state and local tax developments in New Jersey, New Mexico, and Pennsylvania, as well as a multistate update on Wayfair developments.

All of this week’s TWIST episodes

Insight

NJ: Guidance issued on treatment of GILTI and FDII; Combined group composition

The NJ Division of Taxation recently released two technical bulletins that provide guidance on GILTI and FDII.
Insight

NM: Dept. failed to establish deviation from financial institution apportionment factor was warranted

Recently, a New Mexico Hearing Officer ruled that the Department of Taxation and Revenue failed to establish that deviation from a financial institution’s apportionment factor was warranted.
Insight

PA: Corporate tax bulletin provides hedging and other receipts are excluded entirely from the sales factor

The Pennsylvania Department of Revenue recently issued a Corporation Tax Bulletin addressing the sales factor treatment of hedging related receipts.
Insight

Multistate: Wayfair-related developments

States covered include Texas, Virginia, Missouri, South Carolina, and Pennsylvania.

To view past weeks of TWIST that you may have missed, please visit our TWIST homepage.

To receive the TWIST e-mail each Monday, make sure that State and Local Tax is checked off as one of your topics of interest on the KPMG Tax subscription site.

TWIST - January 14, 2019

This podcast for the week of January 14, 2019, covers state and local tax developments in New Jersey, New Mexico, and Pennsylvania, as well as a multistate update on Wayfair developments.

All of this week’s TWIST episodes

NJ: Guidance issued on treatment of GILTI and FDII; Combined group composition

NM: Dept. failed to establish deviation from financial institution apportionment factor was warranted

PA: Corporate tax bulletin provides hedging and other receipts are excluded entirely from the sales factor

Multistate: Wayfair-related developments