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.
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.
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.
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.