KPMG reports: Connecticut, Michigan, Pennsylvania | KPMG | GLOBAL

KPMG reports: Connecticut, Michigan, Pennsylvania

KPMG reports: Connecticut, Michigan, Pennsylvania

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.

1000

Related content

  • Connecticut: Publicly traded companies must file Form CT-DTLD Statement of Net Deferred Tax Liability Deduction, on or before July 3, 2017, to preserve the right to take the net deferred tax liability deduction.
  • Michigan: The state tax tribunal found that a passive holding company formed to hold an investment was not subject to the City of Detroit income tax.
  • Pennsylvania: Legislation currently pending in the General Assembly would address the constitutionality of Pennsylvania’s flat dollar cap on net operating losses (NOLs). Both House Bill 1537 and Senate Bill 515 would limit the NOL deduction to 44% of “taxable income.”
  • Pennsylvania: A commonwealth court upheld the validity of Philadelphia’s tax on sodas, effective January 1, 2017.

 

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

 

Submit