KPMG reports: Colorado, Illinois, South Dakota, Vermont, Wisconsin

Colorado, Illinois, South Dakota, Vermont, Wisconsin

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 purchaser of defaulted accounts receivables (charged-off accounts receivable) must use the rules for sourcing service income and thus apportion its income under these rules.
  • Illinois: The City of Chicago extended the effective date for the city’s personal property tax on certain electronic services to January 1, 2016.
  • South Dakota: The state’s high court held that a pipeline company transporting natural gas for others was not liable for use tax on the value of the gas that was burned during the transportation process.
  • Vermont: The Department of Taxes clarified the effective date for implementing the state’s click-through nexus law, assuming that 15 or more states adopt similar provisions.
  • Wisconsin: The Tax Appeals Commission applied the income-producing activity test in determining that an intangible holding company was not liable for corporate income and franchise tax with respect to its royalty income.


Read more at KPMG’s This Week in State Tax

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