Monthly Archives: June 2019

Nevada Wises Up on Exempt Commerce Tax Companies

Posted on June 25, 2019 by Russ

Nevada has a tax on businesses called the “Commerce Tax.” This tax impacts businesses with gross receipts of $4 million or more. If your Nevada business makes less than that, you don’t owe the tax. However, you still had to … Continue reading →

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Arizona v. California Update

Posted on June 24, 2019 by Russ

The State of Arizona has asked the US Supreme Court to stop California’s illegal (in Arizona’s view) scheme of requiring indirect passive owners of LLCs who happen to own other LLCs that invest in California from paying California’s minimum $800 … Continue reading →

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Should a Taxpayer be Liable for Tax on Income She Didn’t Receive?

Posted on June 22, 2019 by Russ

Not even the IRS could go after someone for income they didn’t receive, right? Well, wrong. And when the taxpayer filed a lawsuit to reverse the result, she lost. She appealed to the Eleventh Circuit where the Court had a … Continue reading →

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IRS To New York, New Jersey, and California: We Weren’t Kidding

Posted on June 11, 2019 by Russ

Today the IRS issued rules and guidance on charitable contributions as a workaround to the new limits on state and local taxes. Unsurprisingly, the IRS said exactly what I thought they would: both substance over form and quid pro quo … Continue reading →

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Arizona vs. California Franchise Tax Board

Posted on June 10, 2019 by Russ

Legal authorities in the Grand Canyon State are not amused by California’s view that indirect interests in California LLCs mean that the entities are doing business in California. And they’re mad enough to take action, asking leave to sue California … Continue reading →

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