July 9, 2020
State corporate income and franchise tax developments in the second quarter of 2020 updated to add developments from the last week of June 2020
The attached Alert updates the quarterly newsletter that was issued June 26, 2020, to include developments from the last week of June 2020. The quarterly newsletter provided an updated summary of the significant legislative, administrative and judicial actions that affected state and local income/franchise and other business taxes for the second quarter of 2020.
Changes in the June 26, 2020 alert: Moved from "Developments to watch" to "Key developments": California AB 85 as the underlying bill has been enacted. Moved from "Developments to watch" to the "Legislative Developments": Colorado HB 1024, Iowa HF 2641 and North Carolina HB 1080 as the underlying bills have each been enacted. Added to "Legislative Developments": Georgia, New Mexico and Oregon. Added to "Administrative Developments": Illinois, Oregon and Philadelphia, PA.
Second quarter 2020 state corporate income/franchise tax developments update