California, New York, South Carolina, Texas | KPMG | GLOBAL

KPMG reports: California, New York, South Carolina, Texas

California, New York, South Carolina, Texas

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 Franchise Tax Board has scheduled a meeting for April 20 to discuss draft regulations concerning apportionment when the combined group includes both general corporations and financial entities. 
  • New York: The state’s tax appeals tribunal held that a taxpayer is required to use its state net operating losses (NOLs) to reduce its New York entire net income in a tax year when paying tax on a non-income basis (in this case, the banking franchise tax).
  • South Carolina: An administrative law court determined that optional liability waivers offered to customers, along with rentals of certain types of tangible personal property, were subject to sales tax.
  • Texas: The Comptroller concluded in a private letter ruling that an electronic storage locker concession at an amusement park was a service, and not a rental of tangible personal property; thus, the storage service was a nontaxable transaction.
  • Texas: An administrative law judge in a case concerning whether two businesses must file a unitary combined return, concluded that a “strong centralized management” means more than a single common administrator.


Read more at KPMG’s This Week in State Tax

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