KPMG reports: Alaska, Texas, Wyoming | KPMG | US

KPMG reports: Alaska, Texas, Wyoming

KPMG reports: Alaska, Texas, Wyoming

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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  • Alaska: An administrative law judge found that certain dividends received from a domestic subsidiary (excluded from the Alaska combined group under the “water’s edge” standard because its business activities were primarily outside of the United States) were subject to an 80% dividends received deduction.
  • Texas: An administrative law judge found that a taxpayer qualified as a manufacturer and was entitled to the manufacturing exemption under the sales and use tax for wrapping and packaging supplies. 
  • Wyoming: The state’s high court held that the generation of electricity does not qualify as “manufacturing,” and thus, certain chemicals used in generating electricity were not exempt from sales and use tax under the manufacturing exemption.

 

Read more at KPMG's This Week in State Tax

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