Reed Smith Client Alerts

Welcome to the latest Reed Smith update on recent developments in Massachusetts tax.  In this update, we will discuss the following developments:
  • Massachusetts’ guidance on federal tax reform
  • Ongoing litigation involving remote sellers
  • Administrative and budget updates
  • The latest in Massachusetts tax controversy

Authors: Michael A. Jacobs Brent K. Beissel Sebastian C. Watt

This update addresses the following Massachusetts tax developments:

  • Governor’s proposed FY 2020 budget includes new and renewed tax provisions
  • Massachusetts legislature introduces bill that would allow elective single sales factor apportionment
  • ATB characterizes remote-desktop access services as the taxable use of software
  • U.S. Supreme Court’s decision in Wayfair fails to bring litigation over “cookie” nexus to an end
  • Tax Reform - Department guidance on deemed repatriation provides relief; raises questions
  • Tax Reform - the foreign tax credit gross-up: should taxpayers deduct 100%?
  • Tax Reform - an equitable answer to interest expense limitation: treat it like the charitable deduction limitationTax Reform - Massachusetts follows federal qualified opportunity zone benefits
  • Legislature enacts law extending room occupancy excise tax to short term rentals
  • Governor Baker proposes deeds excise tax increase to fund climate change projects
  • “Millionaire’s tax” reintroduced