KPMG reports: Maryland, Massachusetts, New Hampshire, New York, Oregon

Maryland, Massachusetts, New Hampshire, New York

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 and features a series of short podcasts presented by KPMG tax professionals. Text of the podcasts is also available.

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This week’s edition includes the following topics (listen to the podcasts; to read text, click on the links below).

  • Maryland - The Maryland Tax Court held that the transmission of electricity is a taxable service—because it is not a production activity—and that the materials purchased in conjunction with transmitting electricity did not qualify for the production activity exemption.
  • Massachusetts - The high court affirmed loans are to be included in the taxpayer’s Massachusetts property factor because the taxpayer had no regular place of business (either within or outside Massachusetts), and accordingly, for property factor purposes, all loans must be attributed to Massachusetts.
  • New Hampshire - Legislation (House Bill 552) was introduced, and if enacted, would require the state to adopt a plan to accept bitcoin as payment for taxes and fees beginning July 1, 2017.
  • New York - A state administrative law judge found that a taxpayer was not required to use a state NOL to reduce the New York entire net income in a tax year when the taxpayer paid its banking franchise tax under one of the alternative bases.
  • Oregon - The Oregon Tax Court held for the taxpayer in interpreting a “single trade or business” for proposes of the rules for a combined unitary group.

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