Journal of State Taxation articles from March 2005

Journal of State Taxation archives from March 2005

A lawmaker's guide to income tax shelters: are new weapons needed by the States?(part 1)
March 22, 2005... Executive Summary Both the federal and state income tax systems rely on a self-assessment method of collecting the tax; i.e., taxpayers are required to compute their tax and report it to the taxing authority along with the required...

Overview of California's enterprise zone credits: Chris Micheli examines enterprise zone credits in California and the statutory eligibility requirements for those credits. He also looks at net interest and net operating loss deduction rules for companies operating in the zones.
March 22, 2005... Enterprise Zone Hiring Credit Introduction The California Revenue and Tax Code (CRTC) provides a hiring credit for "qualified taxpayers" who employ "qualified employees" within a designated Enterprise Zone (EZ) and pay "qualified...

Exploring the sales and use tax - a tax on consumption: Eric Rothenburg examines the different tax collection methods used by state and local taxing authorities, and looks at why sales and use taxation has escalated in recent years.
March 22, 2005... Introduction When we examine the current tax structure in the United States, we can observe that there are basically three ways that taxes can be collected by state and local authorities. The first way is the traditional tax on income....

Taxpayers and California SBE win last-minute changes to key tax bill: Chris Micheli looks at the evolvement of S.B. 1064, and the effects that different versions of the bill would have on taxpayers.
March 22, 2005... Overview of the Bill In the last seven days of the 2003 California Legislative Session, Senate leader John Burton gutted and amended a bill that would have retroactively overturned a State Board of Equalization (SBE) decision that had been...

Frequently asked multistate tax questions: what constitutes nexus for sales and use tax purposes?
March 22, 2005... The U.S. Supreme Court held in Quill that physical presence was to be the bright-line test for sales and use tax nexus. If a seller has no physical presence in the state, it cannot be required to collect tax on its sales into the state. The...