KPMG reports: Illinois, Louisiana, Oregon, Tennessee

KPMG reports: Illinois, Louisiana, Oregon, Tennessee

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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  • Illinois: An Illinois tribunal concluded that a taxpayer must include "throwback sales" in its sales factor numerator, despite a statutory change to the alternative apportionment rules.
  • Louisiana: The 2015 tax amnesty program was suspended and has been extended, and will now run until December 31, 2015. 
  • Oregon: The Oregon Supreme Court held that the statute of limitations does not bar the Department of Revenue from challenging deductions taken in a closed tax year for purposes of determining whether the net operating losses (NOLs) carried forward to an open year could be used to offset income.
  • Tennessee: A state appeals court held that aircraft lease transactions between related parties qualified as “bona fide sales” eligible for the “sale for resale” exemption.

Read more at KPMG’s This Week in State Tax

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