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Hawaii Cannabis Legalization Bill Dies In State House

by usoftax_admin | Apr 4, 2024 | Tax News

An effort to legalize adult-use marijuana in Hawaii is effectively dead for this legislative session after Democrats in the state House of Representatives announced they would not deliberate any further on a proposal that had already cleared the state Senate this...

Companies In Limbo As IRS Mulls Waiver For 15% Book Tax

by usoftax_admin | Apr 4, 2024 | Tax News

Corporations preparing for their quarterly estimated taxes are uncertain about paying a 15% alternative minimum tax due on April 15, since the Internal Revenue Service granted waivers last year and has yet to release proposed regulations that officials have promised...

IRS Penalties Proper In $11B Amgen Dispute, Tax Court Says

by usoftax_admin | Apr 4, 2024 | Tax News

The Internal Revenue Service properly authorized penalties included in a tax bill of nearly $11 billion that drugmaker Amgen is challenging, the U.S. Tax Court said Thursday.

Massachusetts Revenues Through March Down $4M

by usoftax_admin | Apr 4, 2024 | Tax News

Massachusetts’ total revenue collection from July through March came in nearly unchanged from the same period last fiscal year, declining by $4 million, according to a report by the state Department of Revenue.

Arkansas Revenues Down From Previous Year

by usoftax_admin | Apr 4, 2024 | Tax News

Arkansas’ general revenue from July through March came in 1.6% higher than projected, but down 5.6% from the same period last year, the Department of Finance and Administration announced.

Iowa General Revenue Collection Through March Up $267M

by usoftax_admin | Apr 4, 2024 | Tax News

Iowa collected $267 million more in tax revenue from July through March than the same period last year, according to a monthly report by the state Department of Management.
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