This podcast for the week of June 24, 2019 covers state and local tax developments in Louisiana, San Francisco, and Texas, as well as a Wayfair update in multiple states.
Legislation enacted in Louisiana mandated that, when operating losses were carried over from multiple tax years, they were to be applied beginning with the loss for the most recent tax year.
If approved, an annual Mental Health Gross Receipts Tax would be imposed on persons and combined groups doing business in San Francisco if their Executive Pay Ratio exceed 100:1.
A Texas appeals court held that a taxpayer that operated an aquarium was not selling tangible personal property and was not entitled to deduct costs of goods sold (COGS) in computing its Texas Margin Tax liability.
State lawmakers continue to enact legislation and issue guidance in response to the U.S. Supreme Court’s decision in South Dakota v. Wayfair. This week includes NV, LA, and NH.
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