KPMG reports: California, Michigan, Ohio, Wyoming

KPMG reports: California, Michigan, Ohio, Wyoming

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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  • California: The governor signed legislation updating California’s conformity to the Internal Revenue Code. Unlike most states, California does not adopt the Code as a whole, but conforms only to specified Code sections. Among the new conformity measures is one allowing a corporation expecting a net operating loss (NOL) carryback to extend the time for payment of taxes for the immediately preceding tax year.
  • Michigan: The Michigan Court of Appeals issued a decision in a number of consolidated cases, and held that the retroactive repeal of the Multistate Tax Compact did not violate various Michigan and federal constitutional provisions, including the Due Process Clause.
  • Ohio: The Ohio Court of Appeals affirmed that amounts paid for the installation of a golf course irrigation system were subject to tax because in Ohio, services to install tangible personal property are subject to sales and use tax.
  • Wyoming: The Wyoming State Board of Equalization found that equipment temporarily stored in Wyoming is not subject to use tax.

 

Read more at KPMG’s This Week in State Tax

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