This podcast for the week of April 29, 2019 covers state and local tax developments in Iowa, Maryland, New Jersey, and a Multistate update on the Wayfair decision.
The Iowa Department of Revenue recently issued guidance on the IRC section 163(j) limitation.
The Comptroller of Maryland recently issued Tax Alert 04-19, which provides guidance on the taxation and apportionment of GILTI.
The New Jersey Division of Taxation recently issued TB-88, which provides guidance on the treatment of IRC section 951A (GILTI) and the 250(a) deduction for businesses filing on a combined basis.
State lawmakers continue to enact economic nexus legislation to take advantage of the authorization contained in the U.S. Supreme Court’s decision in South Dakota v. Wayfair. Colorado and California are covered this week.
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.