taxnews.ey.comPrint

07 April 2020

State corporate income and franchise tax developments in the first quarter of 2020

The attached Alert provides a summary of the significant legislative, administrative, and judicial actions that affected state and local income/franchise and other business taxes for the first quarter of 2020. These developments are compiled from the EY Indirect/State Tax Weekly and Indirect/State Tax Alerts.

Highlights include:

  • A summary of the state considerations of the CARES Act
  • A summary of legislative developments in Arizona, Idaho, Indiana, Maine, New Mexico, South Dakota, Utah, Virginia, West Virginia and Wisconsin
  • A summary of judicial developments in New Jersey, Oregon and Wisconsin
  • A summary of administrative developments in Iowa, Massachusetts, Michigan, Mississippi, New Jersey, New York, North Carolina, Rhode Island and Texas
  • A discussion of state and local tax items to watch in Hawaii, Illinois and New Jersey

———————————————

Contact Information
For additional information concerning this Alert, please contact:
 
State and Local Taxation Group
   • Mark McCormick (mark.mccormick@ey.com)
   • Steve Wlodychak (steven.wlodychak@ey.com)
   • Joe Huddleston (joe.huddleston@ey.com)
   • Karen Ryan (karen.ryan@ey.com)
   • Deane Eastwood (deane.eastwood@ey.com)
   • Karen Currie (karen.currie@ey.com)
   • Tim Kimmel (timothy.kimmel@ey.com)
   • Jess Morgan (jessica.morgan@ey.com)

———————————————
ATTACHMENT

First quarter 2020 state corporate income/franchise tax developments

Document ID: 2020-0902

 

The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to the reader. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.

 

Copyright © 1996 – 2025, Ernst & Young LLP

 

All rights reserved. No part of this document may be reproduced, retransmitted or otherwise redistributed in any form or by any means, electronic or mechanical, including by photocopying, facsimile transmission, recording, rekeying, or using any information storage and retrieval system, without written permission from Ernst & Young LLP.

 

EY US Tax News Update Master Agreement | EY Privacy Statement