Colorado, Illinois, Indiana, Washington State | KPMG | US

KPMG reports: Colorado, Illinois, Indiana, Washington State

Colorado, Illinois, Indiana, Washington State

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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  • Colorado: The Department of Revenue published an emergency rule addressing the state’s use tax notice and reporting requirements that became effective July 1, 2017.
  • Illinois: A hearing on the Cook County (Chicago) sweetened beverage tax restraining order has been extended until July 21, 2017.
  • Indiana: The state’s tax court addressed a number of issues stemming from a taxpayer’s corporate income tax audit, including liability that arose as a result of the Department of Revenue reclassifying the taxpayer’s gain from the sale on a subsidiary as business income.
  • Washington State: House Bill 2163 extends the state’s business and occupation (B&O) tax economic nexus provisions to taxpayers engaged in making retail sales.
  • Washington State: The Seattle City Council approved a measure that would impose an income tax at a rate of 2.25% on total income of city residents in excess of: (1) $250,000 for individuals with a single / head of household / qualifying widow with dependent child filing status; or (2) $500,000 for individuals with a “married filing jointly” filing status.

 

Read more at KPMG's This Week in State Tax

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