KPMG reports: Connecticut, Ohio, Pennsylvania, Texas

KPMG reports: Connecticut, Ohio, Pennsylvania, 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 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).

 

  • Connecticut - Senate Bill 946, as introduced, would make tax changes needed to implement the governor’s budget, including a proposal to make permanent a 20% corporate surtax.
  • Ohio - The Ohio Board of Tax Appeals denied an exemption from sales and use tax for cleaning services purchased by a contractor for use in a project for the Ohio National Guard. The exemption was denied for the subject cleaning services were not incorporated into the structure or improvement being constructed.
  • Ohio - The governor has proposed reducing individual income tax rates across the board by 15% in 2015 and another 8% in 2016, and to eliminate taxes on businesses and passthrough entities with gross receipts of $2 million or less.
  • Pennsylvania - A release from the governor’s office indicates he will propose reducing the corporate income tax rate from 9.99% to 4.99% over the next two years and propose to repeal the capital stock franchise tax entirely.
  • Texas - Among the tax legislative proposals are bills that would reduce the franchise tax rates and increase the franchise tax exemption.

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