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KPMG reports: Colorado, Massachusetts, Tennessee, Washington

Colorado, Massachusetts, Tennessee, Washington

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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  • Colorado: The General Assembly passed legislation that would adopt market-based sourcing rules effective for income tax years beginning on or after January 1, 2019.   
  • Massachusetts: The Department of Revenue issued guidance announcing penalty relief for underpayments of corporate excise tax as a result of IRC section 965, and confirming that a corporation that has federal gross income attributable to section 965 must also report that income for Massachusetts corporate excise tax purposes. 
  • Tennessee: Legislation would “decouple” Tennessee from certain aspects of federal tax reform—specifically, the measures concerning the net interest expense deduction limitation under IRC section 163(j) and the treatment of amounts that a company receives under state and local incentives and grants under IRC section 118. 
  • Washington: The Department of Revenue issued an excise tax advisory concluding that “enhanced delivery services” (also referred to as “white glove” delivery services) generally create substantial nexus for the seller. 

 

Read more at KPMG's This Week in State Tax

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