The State and Local Tax Buzz

Local Tax Developments, Massachusetts City and Town Amnesty:  In July of 2010, the Massachusetts legislature passed H. 4877, the Municipal Relief Act, which granted Massachusetts cities and towns the authority to adopt and implement a temporary municipal amnesty program during the state’s fiscal year ending June 30, 2011. 
State Tax Amnesty, An Overview
Tax amnesty programs have been big news at the state level for during the last few years.  During 2009 through the end of 2010, more than half of the states (plus the city of Philadelphia and the District of Columbia) legislated and implemented some type of amnesty program. (See my August 23, 2010 “Buzz” post, “State Tax Amnesty: An Opportunity for Taxpayers to Pay Delinquent State Taxes, What Taxpayers Need to Know”)  Massachusetts, in particular, enacted and held amnesties in both 2009 and 2010.  The Commonwealth’s three month 2009 amnesty was geared specifically towards individuals with outstanding individual liabilities.  In 2010, M…

Practical SALT Considerations, Article Link: This article, published in the February 2011 issue of the Journal of Accountancy, provides a excellent, concise overview of multi-state issues faced by S Corporations and their shareholders.  Note that many of the same multi-state issues discussed in this article also apply to other entities structured as flow through entities, such as partnerships and limited liability companies.  Read the entire article at: Multistate Tax Considerations for S Corporations

Commentary:  In addition to being a full-time State & Local Tax consultant, I'm a part-time tax writer.  Not only do I author posts for the "Buzz", I'm a regular contributor to the "Business Tax Advisor" blog of AllBusiness.com. (See side bar "Read My Monthly Posts at AllBusiness.com").  I've also co-authored articles on State & Local Tax issues and developments (see my "Publications and Presentations" tab), will periodically wri…