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Daily Tax Report: State

New York, New Jersey Lawmakers Start Plotting SALT Cap Fix

Democrats and Republicans from states like New York and New Jersey are plotting to come together on a strategy for next year to roll back the state-and-local tax deduction cap.

Ohio Justices Grill DaVita Clinic on How to Tax Patient Services

Two Ohio Supreme Court justices seemed skeptical of a DaVita Inc. subsidiary’s arguments that the state shouldn’t have taxed certain services it provides to dialysis patients.

Fruit Processor Must Pay Use Tax, South Carolina Tells Top Court

A fruit processing company’s purchased supplies and protective clothing don’t qualify for a use tax exemption because the items aren’t continuously used for manufacturing, the state tax agency told the South Carolina Supreme Court.

Detroit Urges Michigan Justices to Skip Fire Safety ‘Tax’ Case

Detroit’s fire inspection charges aren’t taxes that require voter approval under Michigan law, the city said in a brief arguing the state’s top court doesn’t need to consider the case.

Tech Attorneys Expect Maryland Digital Ad Tax Demise

Attorneys representing tech giants Google and Facebook predicted Maryland’s courts would eventually strike down the state’s first-in-the-nation digital advertising tax as a violation of the federal Internet Tax Freedom Act—perhaps as early as October.

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Trump to Address Bitcoin Event in Show of Support for Crypto (1)

Donald Trump will speak at a <-bsp-bb-link state="{"bbHref":"bbg://securities/XBTUSD%20BGN%20Curncy/GP","_id":"00000190-a058-d6e5-adde-bbd969010001","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Bitcoin conference this month, according to the event’s organizers, an address that would highlight his growing embrace of the cryptocurrency industry.

Patrick McKenzie Explains Digital Money’s Hidden Paths

If you have a burning question about how money works, Patrick McKenzie probably has the answer. The software engineer/blogger/vaccine database founder’s widely read newsletter, Bits About Money, is dedicated to thinking about the often-misunderstood concepts at the intersection of tech and finance—or, as he puts it, “the modern financial infrastructure that the world sits atop of.��

Tax Your Crypto and NFTs? Yes, the IRS Wants Its Cut

Cryptocurrency and NFTs continue to rise in popularity in the U.S., but many people are still confused about how they are taxed. In this video, a partner at Steptoe & Johnson who specializes in tax policy and cryptocurrency, lays out how different crypto transactions are taxed.

Tax Developments

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West Virginia Tax Division Publishes Information on Sales Tax for Broadcast Media, Artist Services

The West Virginia Tax Division July 1 published information on sales tax for broadcast media and artist services. The information includes the application of sales tax for: 1) radio and ...

New Hampshire Authorizes Business Finance Authority Student Loan Financing, Provides Tax Exemption

The New Hampshire Governor signed a law providing for the issuance of bonds and other obligations by the business finance authority of the state to finance student loans. The law ...

Rhode Island Enacts Law Authorizing Glocester to Issue General Obligation Bonds, Property Tax Levy

The Rhode Island Governor signed a law authorizing the town of Glocester to issue bonds and notes to finance the renovation and/or expansion of the existing Glocester police station. The ...

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