KPMG reports: Alabama, Arizona, North Carolina, Ohio | KPMG | GLOBAL

KPMG reports: Alabama, Arizona, North Carolina, Ohio

KPMG reports: Alabama, Arizona, North Carolina, Ohio

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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  • Alabama: House Bill 451 removes a statutory requirement that the allocation and apportionment rules under Alabama’s financial institutions excise tax must comport with the Multistate Tax Commission’s model regulations for apportioning the income of a financial institution.
  • Arizona: Senate Bill 1288 (having passed the legislature) updates Arizona’s conformity to the Internal Revenue Code and revises the partnership return due dates, to conform to the federal treatment of the way partnerships and entities taxed as partnerships are audited at the federal level. 
  • North Carolina: Senate Bill 729, signed into law in May 2016, makes changes to North Carolina’s corporate income tax provisions, including amendments to the related-party interest addback requirement and the apportionment rules.
  • Ohio: The state’s high court held that Ohio could not constitutionally impose individual income tax on a nonresident’s capital gain that arose from the sale of the individual’s interest in a pass-through entity that conducted business in the state.


Read more at KPMG’s This Week in State Tax

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