Each state has unique laws that govern how taxes are reported. So, when tax professionals work within more than one state tax jurisdiction, financial reporting can become complicated. In the Wolters Kluwer's State Tax Handbook (2021), readers have access to multistate charts on income taxes (personal and corporate), sales and use taxes and tax administration for each state’s taxation scheme, including the District of Columbia. Authored by our expert Tax Law Editors, this state tax guide reflects all legislative activities that affect corporate income taxes, personal income taxes, and sales and use taxes.
What Is Covered in the State Tax Handbook (2020)?
Divided into four parts, this guide systematically covers general topics like state levies, tax bases and rates, principal payment and return dates, taxing authorities by jurisdiction, collection of out-of-state taxes, and more. In addition to these topics, the following 2020 changes are also covered:
- Internal Revenue Code (IRC) conformity updates in AR, GA, KY, ND SC, VA, WV
- Combined reporting laws in KY and NM
- Market-based sourcing rules for IN and LA
- Sales tax economic nexus (Wayfair) laws in CA, HI, ID, KY, NE, NM, NY, NC, ND, RI, SC, UT, VA, WA, WV, WY
Included Tables and Resources
The State Tax Handbook (2020) includes multistate charts about both personal and corporate income taxes, sales and use taxes, and tax administration. It also details each state’s taxing authorities by jurisdiction, including their mailing addresses, phone numbers, websites, and the taxes they govern. This allows you to save time while quickly finding the right person to contact regarding your clients’ taxes.
Alongside its detailed account of various state taxes and legislation, this guide also provides several tables that offer quick references for busy tax professionals like you. As you provide your services, you can refer to the following checklists, overviews, and tables to help you get the job done right:
- Income tax rates and alternative minimum taxes
- Bonus depreciation adjustments
- Net operating loss carryforward periods
- Related party expense add-back requirements
- Annual return filing deadlines for C corporations
- Filing extensions for corporations and individuals
- Combined reporting requirements and consolidated returns
- Pass-through entity income tax withholding requirements
- Apportionment formulas
- Estimated tax requirements
- Electronic filing requirements for income and sales tax returns
- Sales tax economic nexus rules
- Sales and use tax rates
- Sales tax holidays
- Taxation of digital products
- Manufacturing exemptions
- Sales for resale
Order Your Copy Today
As an all-in-one state tax guide, this resource saves you from the need to consult more than one piece of literature to complete your clients’ taxes. Plus, with its helpful topical organization, tables, and other resources, you can work as efficiently as possible during the upcoming tax season. Available as both an e-book and softcover copy, you can choose the format the works best for you.