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State and local tax policy outlook
Tap into Tax
English - March 02, 2021 04:00 - 17 minutes - 11.9 MBBusiness tax accounting tax operations business finance Homepage Download Google Podcasts Overcast Castro Pocket Casts RSS feed
Previous Episode: The new age of tax sustainability
Next Episode: Dive into trade policy
In this Tap into Tax episode, Julie Allen, Margie Dhunjishah, Jennifer Jensen, and Rob Ozmun discuss the state legislative and policy outlook for both income/franchise and indirect taxes. Among the top direct tax trends are income tax rate increases and surcharges, NOL and credit limitations, continued IRC conformity actions, and passthrough entity taxes. For indirect tax, states are implementing broad nexus standards, looking to expand the tax base to digital goods and services, and examining (and in Maryland's case, adopting) new tax regimes targeting digital advertising. Jennifer and Rob discuss ways businesses can be proactive in meeting these upcoming challenges.