Massachusetts Tax Board Rules that Nonresident is Subject to Tax on Gain from Stock Sale
A recent Massachusetts case ruled that the founder, and former executive, of a corporation was subject to income tax on the gain from the sale of stock, even though he was a nonresident at the time of the sale.
Tennessee Ruling Addresses the Taxability of IT Services Including Software Customization
A recent Tennessee ruling explains the importance of reviewing the contract terms when multiple taxable and nontaxable services are provided under a single contract.
Indiana Ruling Addresses Taxation of a Nonresident’s Deferred Compensation
While certain types of deferred compensation may be taxable only by the recipient’s state of residence, other types may be taxable in the state(s) in which the individual previously worked.
Colorado Ruling Addresses Sales Tax on Food Sold for Human Consumption and Local Tax Uncertainty
Remote sellers that collect and remit sales tax in multiple states may find it difficult to understand each state’s taxability rules. For those that sell food, the taxability rules are even more complex, as illustrated in a recent Colorado ruling.
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