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NY Bill Seeks To Stop Selective Energy System Tax Breaks

by usoftax_admin | Nov 17, 2023 | Tax News

New York taxing jurisdictions would not be able to pick which solar or wind energy systems are exempt from property tax under a bill introduced in the state Assembly.

Bezos On The Move: SALT In Review

by usoftax_admin | Nov 17, 2023 | Tax News

From billionaire Jeff Bezos’ impending relocation to an important transfer pricing case in Louisiana, RSM’s David Brunori offers his thoughts on noteworthy state and local tax news.

Wis. Lawmakers OK Wider Farmland Preservation Tax Breaks

by usoftax_admin | Nov 17, 2023 | Tax News

Wisconsin would expand eligibility for farmland preservation tax credits and increase the amounts of credits that eligible landowners could receive for qualifying acres under a bill approved by state legislators.

Treasury, IRS Propose Rules To Limit Easement Deductions

by usoftax_admin | Nov 17, 2023 | Tax News

The Internal Revenue Service proposed guidelines Friday clarifying a new law meant to stop partnerships from claiming unwarranted tax deductions for conservation easement donations, including detailed rules for calculating partners’ bases and new recordkeeping...

Colombian Court Spikes Ban On Royalty Tax Deduction

by usoftax_admin | Nov 17, 2023 | Tax News

Fossil fuel companies in Colombia will once again be able to claim a royalty deduction on their income taxes after the country’s top constitutional court decided the government’s scrapping of the benefit was unconstitutional, the court announced.

Tax Interest Rates To Stay Same In 1st Quarter of 2024

by usoftax_admin | Nov 17, 2023 | Tax News

The Internal Revenue Service’s interest rates for underpayments and overpayments will not change for the first quarter of 2024, the agency said Friday.
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