State Tax Handbook (2014)

Author： Richard H. Gesseck CPA and Lawrence Gramling Ph.D. CPA

Publisher： CCH‎

Publication year： 2013

E-ISBN: 9780808036326

P-ISBN(Paperback): 9780808036319

Subject： F8 Finances

Keyword： Tax and Accounting

Language： ENG

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Description

Now available as an eBook, CCHs State Tax Handbook is the perfect quick-answer tool for tax practitioners and business professionals who work with multiple state tax jurisdictions. This handy and affordable reference provides readers with an overview of the taxation scheme of each state and the District of Columbia, as well as multistate charts on income taxes (personal and corporate), sales and use taxes and tax administration. It is a time saving resource for tax professionals by providing a single source of key state tax information instead of having to consult mulitple sources. This book brings together important tax informaiton for each state tax system and adds value to the practice of multistate tax advisors and those advising multistate businesses. The book is set out in four parts, which together deliver an overall picture of the states levies, bases and rates of each tax, principal payment and return dates, and other important information on major state taxes. The State Tax Handbook provides a comprehensive "Taxes by State" section, which helpfully summarizes in one place the tax rules for each state, including key information such as tax rates and filing/payment dates. It details the taxing authorities for each jurisdiction, including addresses, phone numbers, websites and taxes governed by each office. This helpful section also includes a discussion on collection of out-of-state taxes. The major features of each states revenue system are outlined in uniform arrangement which makes reference from state to state easy. At-a-glance multistate charts detail important issues to assist state tax compliance and planning. More than 120 charts are provided, covering discrete topics such as income tax rates, state corporate and personal income tax reporting requirements, filing extensions, state taxation of passthrough entities; allocation and apportionment, AMT on preference items, manufacturing exemptions, sales for resale, consolidated returns, and estimated tax requirements. The 2014 Edition reflects all state legislative activities affecting corporate and personal income taxes and sales and use taxes through printing in early December 2012 to give practitioners up-to-date state tax information entering tax season.

Chapter

Information by State—Introduction

Tax Authorities

Taxes by State

Alabama

Alaska

Arizona

Arkansas

California

Colorado

Connecticut

Delaware

District of Columbia

Florida

Georgia

Hawaii

Idaho

Illinois

Indiana

Iowa

Kansas

Kentucky

Louisiana

Maine

Maryland

Massachusetts

Michigan

Minnesota

Mississippi

Missouri

Montana

Nebraska

Nevada

New Hampshire

New Jersey

New Mexico

New York

North Carolina

North Dakota

Ohio

Oklahoma

Oregon

Pennsylvania

Rhode Island

South Carolina

South Dakota

Tennessee

Texas

Utah

Vermont

Virginia

Washington

West Virginia

Wisconsin

Wyoming

Income Taxes

Income Taxes—Introduction

Table of 2013 Corporate Income Tax Rates

Personal Income Table of 2013 Rates

Alternative Minimum Tax

Amended Returns and Reporting Federal Changes

Apportionment Formulas

Apportionment—Airlines

Apportionment—Athletics

Apportionment—Construction

Apportionment—Financial Corporations

Apportionment—Motor Carriers

Apportionment—Others

Apportionment—Pipelines

Apportionment—Railroads

Apportionment—Ship Transport

Asset Expense Election—IRC §179

Bad Debt Deduction

Banks and Financial Institutions

Capital Loss Carryovers

Combined Reporting Requirements-Elective Combinations

Combined Reporting Requirements-Mandatory Combinations

Composite Returns—LLCs

Composite Returns—LLPs

Composite Returns—Partnerships

Composite Returns—S Corporations

Consolidated Returns

Credit for Taxes Paid to Another State—Resident

Credit for Taxes Paid to Another State—Nonresident

Deadline for Reporting Federal Changes

Depletion Deduction

Depreciation Rules—IRC §167, IRC §168

Determining Business and Nonbusiness Income

Dividends Received Deduction

Domestic Production Activities Deduction (DPAD)—IRC §199

Due Date for Annual Return

E-Filing: Application and Acknowledgement Process—Application Process

E-Filing: Application and Acknowledgement Process— Acknowledgement Process

E-Filing: Mandates/Options for C and S Corporations

E-Filing: Mandates/Options for Individuals

E-Filing: Mandates/Options for Partnerships, LLPs, and LLCs

E-Filing: PIN Signatures

E-Filing: Signature Forms

E-Filing: Supported/Accepted Programs—Fed/State E-File Program

E-Filing: Supported/Accepted Programs—State Direct E-Filing Program

E-Filing: Supported/Accepted Programs—State Online E-Filing

E-Filing: Supported/Accepted Programs—State Only Returns

E-Filing: Tax Authority Contact Information

EFT Requirements and Options (Corporate Income)

EFT Requirements and Options (Personal Income)

Estimated Tax—Partnerships, LLCs, and LLPs

Estimated Tax—S Corporations

Estimated Tax Requirements—AIM/ASIM

Estimated Tax Requirements—Installments/Forms

Estimated Tax Requirements—Safe Harbor Calculation

Estimated Tax Requirements—Threshold

Estimated Tax Requirements—Underpayment Penalties

Extraterritorial Income (ETI) Exclusion—IRC §114

Federal Income Taxes Paid

Federal Form Attachment Requirements (Corporate Income)

Federal Form Attachment Requirements (Personal Income)

Federal Return Attachment—LLCs

Federal Return Attachment—LLPs

Federal Return Attachment—Partnerships

Federal Return Attachment—S Corporations

IRC Conformity and Taxable Income Starting Point—IRC Conformity

IRC Conformity and Taxable Income Starting Point—Starting Point

Information Returns—Annuities

Information Returns—Dividends

Information Returns—Due Date

Information Returns—Interest

Information Returns—Nonemployee Compensation

Information Returns—Premiums

Information Returns—Rents/Royalties

Insurance Companies—Corporation Income Tax

Insurance Companies—Premiums Tax

Limitation Periods for Assessment and Refund—Standard Limitation Periods

Limitation Periods for Assessment and Refund—Understatements, Fraud, or Failure to File

Limitation Periods for Assessment and Refund—Refunds

Limited Liability Companies: Recognition of Federal Election

Limited Liability Companies: Taxation

Lump Sum Distributions

Net Operating Loss (Corporate Income)

Net Operating Loss (Personal Income)

Payment by Credit Card

Payroll Factor Rules

Property Factor Rules—Owned Property

Property Factor Rules—Rented Property

Public Utilities

Reciprocal Personal Income Tax Agreements

Related Party Expense Addback Requirements

Return Due Dates

Return Filing Extensions (Corporate Income)

Return Filing Extensions (Personal Income)

S Corporations: Recognition of Federal Election

S Corporations: Taxation

Sales Factor Rules—Destination Test

Sales Factor Rules—Income-Producing Activity and Cost of Performance Sourcing

Sales Factor Rules—Throwback or Throwout Rules

Social Security Benefits

Standard Deduction

Start-Up and Organizational Expenditures—IRC §195, IRC §248, and IRC §709

Starting Point

Taxability of Bond Interest (Corporate Income)—Other States’ Bonds

Taxability of Bond Interest (Corporate Income)—State's Own Bonds

Taxability of Bond Interest (Corporate Income)—U.S. Bonds

Taxability of Bond Interest (Personal Income)—Other States' Bonds

Taxability of Bond Interest (Personal Income)—State's Own Bonds

Taxability of Bond Interest (Personal Income)—U.S. Bonds

Taxes Paid Deduction—Federal Income Taxes

Taxes Paid Deduction—Foreign Taxes Paid

Taxes Paid Deduction—State and Local Income Taxes

UDITPA Conformity

Withholding—Partnerships, LLPs, and LLCs

Withholding—S Corporations

Withholding Returns and Deposits—Annual Reconciliation

Withholding Returns and Deposits—Monthly Deposits

Withholding Returns and Deposits—Quarterly Returns

Sales and Use Taxes

Sales and Use Taxes—Introduction

Sales and Use Tax Rates

Administrative Appeals

Clothing

Collection Discounts Allowed Seller

Components of Basis—Bad Debts

Components of Basis—Coupons and Cash Discounts

Components of Basis—Excise Taxes

Components of Basis—Finance Charges

Components of Basis—Installation Charges

Components of Basis—Installment Sales

Components of Basis—Returns and Repossessions

Computers: Canned Software—Delivered on Tangible Personal Property

Computers: Canned Software—Downloaded

Computers: Custom Software—Delivered on Tangible Personal Property

Computers: Custom Software—Downloaded

Computers: Customization of Canned Software

Department Appeals

Digital Products

Direct Pay Permits

Drop Shipments

Electronic Payment of Sales Tax

Electronic Filing of Sales Tax Returns

Exemption Certificate Validity Periods

Food and Meals—Caterers

Food and Meals—Grocery Food

General Nexus Rules and Internet Sales—General Rules

General Nexus Rules and Internet Sales—Internet Sales

Judicial Appeals

Leases and Rentals-Motor Vehicles

Leases and Rentals—Tangible Personal Property

Manufacturing and Machinery—Machinery

Manufacturing and Machinery—Raw Materials

Manufacturing and Machinery—Utilities/Fuel

Medical Devices

Medical Services

Medicines

Newspapers

Occasional Sales

Occasional Sales of Motor Vehicles

Optional Maintenance Contracts

Parts Purchased for Use in Performing Service Under Optional Maintenance Contracts

Periodicals

Pollution Control Equipment

Resale Certificate Validity Periods

Return Due Dates

Sales for Resale

Services—Generally

Services—Janitorial

Services—Repair (Labor)

Services—Transportation

Shipping

Statutes of Limitations

Trade-Ins

Vending Machine Sales—Food

Vending Machine Sales—Merchandise

Property Tax

Property Tax—Introduction

Administrative Appeals

Assessment Date

Assessment/Valuation Date

Construction Work in Progress

Freeport Exemptions

Intangible Property

Legal Basis for Assessment

Personal Property Renditions

Real Property Delinquency Date

Real Property Lien Date

Real Property Payment Date

Real Property Tax Year

Tangible Personal Property

Taxation of Inventories

Practice and Procedure

Practice and Procedure—Introduction

Abatement of Penalties and Interest

Installment Payments

Interest Rates on Overpayments—2013

Interest Rates on Underpayments—2013

Interest Rates on Overpayments—2012

Interest Rates on Underpayments—2012

Interest Rates on Overpayments—2011

Interest Rates on Underpayments-2011

Mailing Rules-Delivery Rules

Mailing Rules-Postmark

Managed Audits

Record Retention

State Contacts

Taxpayer Representation

Whole Dollar Reporting

Index

Back Cover

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