KPMG reports: Nebraska, Oregon, Rhode Island, Texas | KPMG | US
close
Share with your friends

KPMG reports: Nebraska, Oregon, Rhode Island, Texas

KPMG reports: Nebraska, Oregon, Rhode Island, Texas

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

  • Nebraska: The state’s conformity to the Internal Revenue Code was updated to the Internal Revenue Code of 1986 as it existed on the date of enactment of the state conformity bill (April 11, 2018) and except as otherwise provided under Nebraska law. Unlike certain other states, Nebraska’s conformity bill did not address any aspect of the new federal tax law.
  • Oregon: Senate Bill 1529 was signed into law, and updates Oregon’s conformity to the Internal Revenue Code. The legislation also requires taxpayers to add back amounts deducted from federal income for income repatriated, deemed or otherwise, under the new tax law (Pub. L. No. 115-97).
  • Rhode Island: The Division of Taxation issued an advisory to address the reporting of deferred foreign income under the “transition tax” of IRC section 965. The advisory document explains the state tax treatment for individuals and passthrough entities, but states that guidance for corporate taxpayers is “coming.”
  • Texas: The Comptroller announced a tax amnesty program will run from May 1, 2018, through June 29, 2018.

 

Read more at KPMG's This Week in State Tax

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