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04 January 2023

State corporate income and franchise tax developments in the fourth quarter of 2022

The attached Tax Alert provides a summary of the significant legislative, administrative and judicial actions that affected US state and local income/franchise and other business taxes for the fourth quarter of 2022. These developments are compiled from the EY Indirect/State Tax Weekly and Indirect/State Tax Alerts issued during that period.

Highlights include:

  • A summary of legislative developments in Pennsylvania and the City of Philadelphia, PA
  • A summary of a ballot measure in Colorado
  • A summary of judicial developments in Colorado and Texas
  • A summary of administrative developments in Arkansas, Kansas, Louisiana, Maryland, Massachusetts, Michigan, New Jersey, New York, North Carolina, Rhode Island, Utah and the City of Portland, OR
  • A discussion of federal and state and local tax items to watch in Colorado and Illinois

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Contact Information
For additional information concerning this Alert, please contact:
 
State and Local Taxation
   • Karen Currie (karen.currie@ey.com)
   • Jess Morgan (jessica.morgan@ey.com)
   • Keith Anderson (keith.anderson02@ey.com)
   • Karen Ryan (karen.ryan@ey.com)
   • John Heithaus (john.heithaus@ey.com)
   • Dan Lipton (daniel.lipton@ey.com)
   • Breen Schiller (breen.schiller@ey.com)

Published by NTD’s Tax Technical Knowledge Services group; Jennifer A Brittenham, legal editor

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ATTACHMENT

Fourth quarter 2022 state corporate income/franchise tax developments

Document ID: 2023-0025

 

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.

 

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