TWIST - January 6, 2020

All of this week’s TWIST episodes

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  Event

  California: S Corporation Shareholders Must Apportion Gain from S Corporation’s Sale of Goodwill

  March 20, 2020

  The California Office of Tax Appeals or OTA has concluded that shareholders in an S Corporation must apportion their pro-rata share of the gain on the S corporation’s sale of a goodwill using the S corporation’s factors.

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  Event

  Louisiana: Sales Tax Collected On Online Sales Should Have Been Remitted to Parish, not Department

  March 05, 2020

  The Louisiana Court of Appeals recently addressed a situation that arose when sales and use taxes related to online sales were remitted to the Department of Revenue, as opposed to Jefferson Parish.

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  Event

  New Jersey: REITs, RICs, and Investment Companies Not Included in Unitary Group

  March 05, 2020

  New Jersey requires combined reporting for privilege periods ending on and after July 31, 2019.

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  Event

  Multistate: Update on Wayfair-Related Developments

  March 05, 2020

  The Michigan Department of Treasury recently issued a Notice and FAQs addressing the sales and use tax obligations of marketplace facilitators.