Author Archives: Mary Jo Dolson, CPA

Ohio Adopts New Rule for State Electronic Filing

A new state e-filing requirement will affect the upcoming tax filing season in Ohio. Under the “10 Business Day Rule,” users and customers of software tax preparation products will be required to download and apply software updates if they e-file 10 or more days after the product release.

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IRS Issues Proposed Regulations on Charitable Contributions and SALT Credits

The IRS has issued its long-awaited proposed regulations addressing the issue of whether taxpayers can make charitable deductions in exchange for a tax credit.

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Prospects for SALT Deduction Lawsuit Filed by States are Unclear

As part of the Tax Cuts and Jobs Act (the Act), a limitation was imposed on the state and local tax (SALT) deduction. According to four states – Connecticut, New Jersey, New York and Maryland – that limitation is unconstitutional.

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Ohio and Florida Among States with 2018 Sales Tax Holidays

At a time when many new, complex federal tax laws are still being digested by businesses and individuals alike, it’s nice to know that some things remain the same—all of the states that offered sales tax holidays last year will again offer them in 2018, with the addition of Wisconsin.

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Supreme Court Overturns Longstanding Physical Presence Standard

In its highly anticipated South Dakota v. Wayfair decision issued June 21, 2018, the U.S. Supreme Court overturned a physical nexus standard that has existed for over 50 years and has prevented states from requiring out-of-state businesses to collect sales tax for transactions originating from their states.

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Is the U.S. Sales Tax Landscape on the Verge of Change?

By the end of June, the U.S. Supreme Court will render its decision in the South Dakota v. Wayfair, Inc. case. This decision could completely change the state sales tax landscape—is your company prepared for the potential outcome?

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IRS to Issue Guidance Concerning States Responses to New SALT Limitations

The IRS will be issuing regulations and guidance to clarify the treatment of state income taxes recharacterized by states as a charitable deduction to work around new state and local tax (SALT) limitations.

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InvestOhio Update: What to Do If You Receive a Denial Letter

Now that the state of Ohio is catching up on InvestOhio applications from the first round of funding, agency officials are issuing letters to applicants, notifying them that their application for credit has been denied. Skoda Minotti can help if you receive a “final denial.”

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Tax Cuts and Jobs Act: State Income Tax IRC Conformity Tracker

Recent federal reform changes have already had many effects on state income taxation. As states scramble to measure the impact on their bottom line, we can expect many states to begin making changes accordingly.

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Summer Update – State and Local Tax News

It has been a busy time in the state and local tax arena. See what’s new at the Skoda Minotti Blog

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