KPMG reports: North Carolina, South Carolina, Wisconsin

KPMG reports: North Carolina, South Carolina, Wisconsin

KPMG’s This Week in State Tax—produced weekly by KPMG’s State and Local Tax practice—focuses on recent state and local tax developments.

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  • North Carolina: Because tax collections have exceeded a threshold amount, the corporate income tax rate will be reduced from 4.0% to 3.0% beginning January 1, 2017.
  • South Carolina: The Department of Revenue finalized guidance to be used in determining nexus for corporate income tax purposes, with the guidance providing 12 categories of activities—including activities of unrelated parties, financial activities and transactions, and computer and internet-based activities. 
  • Wisconsin: The Department of Revenue concluded that fees charged by a restaurant for tablets—electronic devices—used by customers to order food and to access “premium content” (e.g., games, news, sports, social media) were subject to sales and use tax. Further, commissions paid by the restaurant to the tablets’ vendor, based on the amount of premium content sold to restaurant customers, were subject to sales and use tax. Also, because the restaurant used the devices in its business, it could not provide the vendor with a resale certificate. 

 

Read more at KPMG’s This Week in State Tax

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