D.C.’s Highest Court Rules Property Improvements and Ground Lease are Separate Taxable Interests
In a new ruling, an interest in a ground lease and property improvements were found to be separate taxable interests, meaning the taxpayer could be liable for additional recordation and transfer tax on amounts well in excess of the property sale price.
Michigan Supreme Court Reverses Court of Appeals and Denies Taxpayer Alternative Apportionment
If your business files state income tax returns in multiple states, it is important for you to pay attention to the state apportionment formula and plan for potential liabilities — especially if you have engaged in any significant transactions.
Ohio Enacts Beneficial Changes to its Commercial Activity Tax and Resident Other State Tax Credit
Ohio’s recently passed budget bill includes two significant tax changes that will affect many of the state’s taxpayers. Read our full breakdown at the link below.
Washington Rules That Acceptance of Exemption Certificate Relieved Seller of Sales Tax Liability
Each state has different rules regarding the requirements for accepting exemption certificates, illustrated by two recent cases out of Washington and Mississippi with two very different resolutions.
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