TWIST - June 21, 2021

Summary of state tax developments in Illinois, Iowa, New York and Texas.

Weekly TWIST Podcast Overview

This Week's Developments

Welcome to TWIST for the week of June 21st, featuring Sarah McGahan from the Washington National Tax State and Local Tax practice.

This week, we are covering a number of legislative developments. In New York, legislation is pending signature that would expand the state’s False Claims Act to include non-filing taxpayers.  In Texas, Senate Bill 477 requires marketplace providers to collect certain fees and addresses the situation when a marketplace is facilitating sales of tickets or admissions. In addition, multiple bills have been enacted in Texas that address tax procedures and administration. In Iowa, a comprehensive tax bill conforms the state to federal bonus depreciation for qualified property placed in service on or after January 1, 2021.

Finally, in Illinois, the Department of Revenue ruled that because neither electricity nor gas services are taxed under the Retailer’s Occupation Tax Act or the Use Tax Act, the recently-expanded manufacturing exemption did not apply to purchases of gas and electricity used in the process of manufacturing zinc plating. 

Thank you for listening to TWIST and stay well.


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Featured Speaker

Sarah McGahan

Sarah McGahan

Managing Director, State & Local Tax, KPMG US