KPMG reports: Alabama, Alaska, Oregon, Pennsylvania | KPMG | US

KPMG reports: Alabama, Alaska, Oregon, Pennsylvania

KPMG reports: Alabama, Alaska, Oregon, Pennsylvania

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.

1000

Related content

  • Alabama: The Alabama Tax Tribunal rejected a taxpayer’s attempt to base its domestic production activities deduction limitation on Alabama taxable income, but concluded the domestic production activities deduction limitation was to be based on federal taxable income.
  • Alaska: The Office of Administrative Hearings determined that federal “look-back” interest applies—i.e., interest that needs to be paid by a taxpayer or refunded to a taxpayer as the result of income from a long-term contract that has been reported on prior year tax returns using the percentage of completion method—but at a rate of interest under Alaska law.
  • Oregon: The governor’s fiscal year 2017-2019 executive budget includes certain revenue and tax proposals to address the state’s estimated $1.7 billion shortfall. Separately, the City of Portland approved a new pay-ratio surtax.
  • Pennsylvania: The Commonwealth Court concluded that purifying and distilling water was not manufacturing for purposes of the exemption from the sales and use tax.

 

Read more at KPMG's This Week in State Tax

© 2017 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us

 

Request for proposal

 

Submit

KPMG's new digital platform

KPMG International has created a state of the art digital platform that enhances your experience, optimized to discover new and related content.