KPMG reports: California, Indiana, Tennessee, Vermont | KPMG | GLOBAL

KPMG reports: California, Indiana, Tennessee, Vermont

KPMG reports: California, Indiana, Tennessee, Vermont

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.


Related content

  • California: The Franchise Tax Board found that California conforms to the federal partial disposition regulations, including the federal rules that allow taxpayers to receive tax recognition when there is a disposition of a portion of an asset. The IRS allowed taxpayers to make late partial disposition elections for tax years 2012 through 2014. Because California follows the partial disposition regulations, the late partial disposition elections are also valid for California.
  • Indiana: The Department of Revenue found that annual membership fees paid by customers of an online retailer were not subject to Indiana sales and use tax.
  • Tennessee: A state appeals court held that a retailer was not subject to personal property taxes on door component parts held in inventory. The court concluded that the taxpayer was not a manufacturer and that the door parts were not raw materials subject to property taxes.
  • Vermont: The state’s highest court held that a taxpayer insurance company was not engaged in a unitary business with its wholly owned subsidiary, a ski resort. The activities of the ski resort was not unitary with the taxpayer’s insurance business.


Read more at KPMG’s This Week in State Tax

© 2017 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Request for proposal