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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 Wayfair.

All of this week’s TWIST episodes

Insight

Iowa: Guidance Issued on IRC section 163(j) Limitation

The Iowa Department of Revenue recently issued guidance on the IRC section 163(j) limitation.

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Insight

Maryland: Guidance Issued on Apportionment of GILTI

The Comptroller of Maryland recently issued Tax Alert 04-19, which provides guidance on the taxation and apportionment of GILTI.

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Insight

New Jersey: Guidance Issued on GILTI Treatment for Combined Reporting

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.

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Insight

Multistate: More State Responses to Wayfair

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.

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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.