KPMG reports: Colorado, Oregon, Texas, Vermont | KPMG | US
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KPMG reports: Colorado, Oregon, Texas, Vermont

KPMG reports: Colorado, Oregon, 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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  • Colorado: The Department of Revenue ruled that a restaurant’s purchase of pre-packaged dressing that was mixed with other food products to produce a condiment that, in turn, was then sold to customers was not exempt as a wholesale purchase for resale, but was a purchase subject to sales tax. 
  • Oregon: The state’s Supreme Court held that a Texas-based motor vehicle financing entity must include the income of two affiliate banks (based in Virginia and not having physical presence in Oregon) in computing its Oregon tax despite the lack of physical presence in Oregon. The banks had income from providing credit cards and consumer loans to Oregon customers, and thus were found to have income derived from sources in the state.
  • Texas: The Texas Comptroller issued a private letter ruling concluding that a taxpayer’s call tracking and monitoring services were not subject to sales and use tax. 
  • Vermont: The Department of Taxes issued guidance concerning the implications of federal tax law changes for Vermont’s individual (personal) income tax laws—specifically, the deductions under the federal tax provision of IRC section 250 (known as the “GILTI”) and IRC section 199A.  

 

Read more at KPMG's This Week in State Tax

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