State and Local Tax (SALT)

News From the SALT Minds – Nov 3, 2014

Summary. "Economic Opportunity Act Of 2014" has been approved by the New Jersey Legislature and it includes new incentives requested by Governor Christie. Overview. In addition to expending the Garden State Growth Zones by adding Atlantic City (which now qualifies the area for maximum Economic Redevelopment and Growth grants), the 2014 EOA makes several revisions to the existing GROW NJ tax credit program.

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News From the SALT Minds – Nov 3, 20142020-01-03T11:45:54-05:00

News From the SALT Minds-Mar, 20, 2014 – California Levels the Playing Field

Summary. Last Summer California enacted a new law allowing a partial sales tax exemption for certain manufacturing and research and development purchases. California is trying to level the competitive playing field with many other states that have exemptions already in place.

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News From the SALT Minds-Mar, 20, 2014 – California Levels the Playing Field2019-01-09T17:48:11-05:00

News From the Salt Minds-March 10, 2014-The Impact of California Prop 39

Summary. As accountants begin to prepare corporate income tax extensions this month, many are realizing that clients with revenue from services or intangibles may be subject to California franchise (income) tax starting in 2013. This is a result of Prop 39, which was passed back in November 2012 by California voters.

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News From the Salt Minds-March 10, 2014-The Impact of California Prop 392020-01-03T11:50:57-05:00

News From the SALT Minds-March 4, 2014

Summary. New Jersey is offering two new voluntary disclosure initiatives for partnerships with New Jersey sourced income that has not remitted the taxes due and for companies that have received income from the use of intangible assets in New Jersey. Background.

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News From the SALT Minds-March 4, 20142019-01-09T17:44:00-05:00

News From the SALT Minds-Feb 20, 2014

Summary. New York State recently released an advisory opinion relating to the substitution of tangible personal property for real property between an individual and an irrevocable trust of which the petitioner retains non fiduciary control. The issue is whether the transfer constitutes a sale and if it is subject to sales and use tax.

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News From the SALT Minds-Feb 20, 20142020-01-03T11:47:43-05:00

News From the SALT Minds-Sept. 26, 2013

Summary. Overstock.com and Amazon.com's litigation against the State of New York over sales and use tax heats up as both firms file petitions in the United States Supreme Court to review the Court of Appeals of New York's decision against both firms. Background.

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News From the SALT Minds-Sept. 26, 20132020-01-03T11:55:01-05:00