TWIST - January 14, 2019

All of this week’s TWIST episodes

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  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.

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  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.

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  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.

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  Insight

  Multistate: Wayfair-related developments

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