KPMG reports: Idaho, Indiana, Kentucky, Texas, Vermont | KPMG | US
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KPMG reports: Idaho, Indiana, Kentucky, Texas, Vermont

KPMG reports: Idaho, Indiana, Kentucky, Texas, Vermont

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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  • Idaho: A second conformity bill, House Bill 463, has been signed into law, and other additional bills on federal tax conformity are pending consideration in the legislature.
  • Indiana: The Department of State Revenue in a “letter of findings” concluded payments received as a result of shared-loss agreements with the Federal Deposit Insurance Corporation (FDIC) were subject to the “financial institutions tax.”
  • Kentucky: A state appeals court held that a statute barring refunds of the “special fuel tax” to taxpayers that did not hold a valid refund permit at the time of the fuel purchase (a “pre-purchase refund permit”) did not violate the “Due Process Clause.”
  • Texas: The Comptroller ruled that streaming subscription services were subject to sales tax. The sales tax, thus, applied to the sale of subscriptions related to an internet-based platform for viewing real-time and on-demand streaming videos. 
  • Vermont: The Department of Taxes issued a technical bulletin summarizing the circumstances under which a foreign business entity is deemed to have Vermont corporate income tax nexus. Physical presence is not required for income tax nexus, according to the technical bulletin.

 

Read more at KPMG's This Week in State Tax

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