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Insight

Florida: Guidance Issued on GILTI Subtraction and Bonus Depreciation

The Florida Department of Revenue recently issued guidance on certain tax reform related items.

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Insight

Louisiana: Medical Devices Exempt Under the Constitutional Exemption for Prescription Drugs

The Louisiana Court of Appeals recently held that the constitutional prohibition against imposing sales and use taxes on “prescription drugs” extended to medical devices.

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Insight

New York: Litigation Support Services Receipts were Other Business Receipts

The NY Tax Appeals Tribunal recently determined that a taxpayer’s receipts from web-based litigation support services were other business receipts, rather than service receipts.

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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.