KPMG reports: Arkansas, California, Delaware | KPMG | GLOBAL

KPMG reports: Arkansas, California, Delaware

KPMG reports: Arkansas, California, Delaware

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

  • Arkansas: The Department of Administration and Finance issued a legal opinion concluding that a taxpayer’s cold storage and blast freezing operations of food products did not qualify for the reduced sales tax rate available for electricity purchased by a manufacturer. 
  • California: The Franchise Tax Board (FTB) issued guidance addressing how it will handle pending cases involving apportionment elections under the Multistate Tax Compact pending the outcome of an appeal to the U.S. Supreme Court. The notice was released in light of taxpayer appeals of a December 2015 decision of the California Supreme Court that found taxpayers could not elect to apportion their income to California using the Compact’s allocation and apportionment provisions, instead of the apportionment formula mandated under state law.
  • California: The FTB Chief Counsel, in an unpublished draft ruling, addressed application of the state’s market-based sourcing rules to a service provider’s business.
  • Delaware: Approximately 100 to 300 companies were sent letters, inviting them to join the Delaware Secretary of State Office’s unclaimed property voluntary disclosure agreement program.


Read more at KPMG’s This Week in State Tax

© 2018 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