KPMG reports: Missouri, New York, Pennsylvania, Texas | KPMG | GLOBAL
close
Share with your friends

KPMG reports: Missouri, New York, Pennsylvania, Texas

KPMG reports: Missouri, New York, Pennsylvania, 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.

1000

Related content

  • Missouri: The governor’s tax reform plan would: (1) reduce the individual (personal) income tax rate; (2) reduce the corporate income tax rate from 6.25% to 4.25%; (3) require all corporate taxpayers to use single-sales factor apportionment; and (4) eliminate certain tax breaks and close certain loopholes including the current 2% discount that is allowed when vendors timely file their sales and use tax returns or employers timely file and pay their withholding taxes. 
  • New York: The Department of Taxation and Finance issued guidance providing that non-transplantable human tissue transferred to medical facilities and laboratories for use in medical research and training was not subject to sales tax.
  • Pennsylvania: The Secretary of Revenue issued guidance that implements a tax legislative change providing for an enhanced percentage of net operating loss (NOL) limitation for future tax years—35% for tax year 2018 and 40% for tax year 2019 and beyond. 
  • Texas: A tax amnesty program will run from May 1, 2018, through June 29, 2018.

 

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.

KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

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