Journal of State Taxation articles from January 2004

Journal of State Taxation archives from January 2004

NJ's Business Tax Reform Act: raising revenue and closing loopholes.
January 1, 2004... On July 1, 2002, New Jersey Governor James McGreevey (D) signed into law a $23.4 billion New Jersey state budget. The following day, in an effort to provided economic support for this budget, the Governor signed into law A2501 (the Business Tax...

The relation of electronic commerce and sales taxes: a consumer survey.
January 1, 2004... In 1992, the US Supreme Court (1) prohibited the 7,800 state and local sales tax jurisdictions from requiring vendors to collect sales taxes on shipments to states where they do not have sufficient "nexus." The Court held that states could not...

Exempting machinery and equipment from the Maine personal property tax.
January 1, 2004... In the shadow of its worst budget crisis, the state of Maine is facing an all-out tax revolt. Fed up with high taxes, homeowners and businesses are demanding that something be done. The legislature is considering a number of proposals to reform...

An update on actual taxpayer usage of California's MIC.(manufacturers' investment tax credit)
January 1, 2004... The purpose of this article is to update readers on the actual usage of California's primary tax incentive for the purchase of specified manufacturing equipment, the manufacturers' investment credit (MIC). This information is particularly of...

Legislative Counsel's MIC opinion.(manufacturers' investment tax credit)(California)
January 1, 2004... On September 3, 2003, the California Legislative Counsel issued a 15-page legal opinion (#18456) to Senate Revenue & Taxation Committee Chairman Gil Cedillo concerning the manufacturers' investment credit (MIC) and the State Board of...

The economics of economic obsolescence.
January 1, 2004... External (economic) obsolescence is a two-edged sword. For taxpayers with income producing property, lowering the tax valuation of that property is to their advantage. For taxpayers, such as residential property owners, who use property as an...

Personal property taxation strategies.
January 1, 2004... In general, property taxation is a tax on property measured by the value of that property as of a specific date. Property tax is referred to as an ad valorem (according to value) tax because it is assessed based on the value of that property....

Frequently asked multistate tax question: are computer software maintenance contracts subject to sales tax?
January 1, 2004... That depends. Whether or not software maintenance contracts are subject to sales tax depends on a state's general rules for all maintenance contracts, whether the software is canned or custom, and the components of the contract itself,...