Multistate Corporate Tax Guide — Mid-Year Edition (2021)

Author(s): John C. Healy, Michael S. Schadewald, Bruce M. Nelson

Published: Jun 23, 2021
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$519



ISBN: 9780808056249
Product Number: 10036593-0008
Volumes: 1
Update Frequency: Annually
800 Pages

The Multistate Corporate Tax Guide Mid-Year Edition focuses on new and emerging issues in state and local taxation (SALT). The 2021 Multistate Corporate Tax Guide Mid-Year Edition is divided into five parts:

Part I, Income and Franchise Taxes, contains a primer on multistate corporate taxation and the following new charts:

  • Bonus Depreciation: Cares Act Fixes the Retail Glitch
  • Income from the Forgiveness of a Paycheck Protection Program Loan
  • Net Operating Loss Carryovers: Cares Act Relief Provisions
  • Business Interest Expense Limitation: Cares Act Relief Provisions

Part II, Sales and Use Taxes, contains a new primer on sales and use taxation and the following new charts:

  • NEXUS
  • Information Services
  • COVID-19 Emergency Tax Exclusions and Exemptions

Part III, Administration, includes the following revised charts:

  • Common Mistakes Corporations Make in Filing Returns
  • Paying Income Taxes and Common Mistakes Corporations Make in Filing Returns and Paying Sales Taxes

Part IV includes the Streamlined Sales and Use Tax Agreement, as adopted on November 12, 2002 and amended through March 5, 2021, and the following five articles:

  • More States Adopt Factor Presence Nexus Standards for Income and Gross Receipts Taxes
  • P.L. 86-272 “Cookies” and Nexus via Activities Conducted Through the Internet
  • State Corporate Income Tax Rates and Brackets for 2021, State Sales Tax Breadth and Reliance
  • Fiscal Year 2020
  • State Individual Income Tax Rates and Brackets for 2021

Part V contains the State Website Directory and the State Corporate Income Tax and Sales and Use Tax Questionnaire (Abridged).

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