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KPMG reports: Louisiana, Massachusetts, Pennsylvania

KPMG reports: Louisiana, Massachusetts, 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.

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  • Louisiana: Newly enacted legislation extends until June 30, 2025, an additional state sales and use tax levy that was first adopted during the state’s 2016 budget crisis. This temporary one-cent sales tax was set to expire June 30, 2018. The new legislation, however, continues the additional levy, but reduces the rate from 1.0% to 0.45% effective July 1, 2018. Thus, Louisiana’s overall state sales and use tax rate will be 4.45% (i.e., separate tax levies of 2.0%, 1.0%, 0.97%, 0.03, and 0.45%).  
  • Massachusetts: The Appellate Tax Board ruled that on out-of-state taxpayer was a “manufacturing corporation” required to use single-sales factor apportionment for the tax years at issue.
  • Pennsylvania: The Department of Revenue issued guidance stating that it would not allow 100% bonus depreciation under IRC section 168(k) for assets placed in service after September 27, 2017, and that a taxpayer would not be allowed any additional depreciation deduction on those assets until the entity either sold or otherwise disposed of the assets. Newly enacted Senate Bill 1056 provides a depreciation deduction for such assets. 

 

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