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State Tax Matters - June 12, 2009

2009-24

Publish date:

U.S. FlagPrepared by the Deloitte Tax LLP Multistate Tax Knowledge Management Group

  • Multistate Tax Alerts
    - FTB Notice 2009-04: Processing California Limited Liability Company (LLC) fee claims for refund as a result of the Ventas decision
    - Michigan Appellate Court holds that federally disregarded single member Limited Liability Company is required to file single business tax return
    - Filing required by July 1st to claim Massachusetts FAS 109 deduction
  • Amnesty/Voluntary Disclosure Programs
    - New Jersey: New Voluntary Disclosure Agreement program (Post 2009 State Tax Amnesty) is more stringent
    - Vermont – New law enacts six-week amnesty program that allows for 100% penalty waiver
  • Income/Franchise Tax
    - Colorado: New law eliminates tax base modification for qualifying in-state capital gains
    - Missouri: New law increases threshold amount for owing franchise tax
    - Oklahoma: New law decouples from certain federal “American Recovery and Reinvestment Act” provisions
    - Vermont: New law updates state conformity to Internal Revenue Code
  • Sales/Use Tax
    - Nebraska: Assembly parts used by manufacturer qualify for exemption
    - Vermont: New law taxes the sale of electronically transferred digital products
  • Training Opportunities
    - 2009 FAS 109 Training

See attached file for details.

Visit the State Tax Matters archive for issues from the past six months.

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