2020 State and Local Tax Legislative Recap

Source: RSM US LLP.  PBMares is a member of RSM US Alliance. 

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Many state legislative sessions were affected by the pandemic: Some states maintained shorter session calendars or adjourned early this year; a few scheduled special sessions to pass necessary budget and operating legislation before returning to physical distancing. This year was less active in many ways than previous years, although it is anticipated that much more state tax legislation will be proposed in the coming months in preparation for the 2021 legislative sessions.

Our 2020 state and local tax recap explores key changes, with a focus on:

  • Federal coronavirus relief and mobile workforce proposals
  • Continued implications of the Wayfairdecision
  • CARES Act conformity and key state legislative developments

For additional considerations heading into 2021, please read our article State tax changes are coming: Be prepared and a recent audiocast: Decimated state budgets-tax changes are coming.


This article was written by Mo Bell-Jacobs, David Brunori , Brian Kirkell and originally appeared on 2020-11-05.
2020 RSM US LLP. All rights reserved.
https://rsmus.com/what-we-do/services/tax/state-and-local-tax/2020-state-and-local-tax-legislative-recap.html

The information contained herein is general in nature and based on authorities that are subject to change. RSM US LLP guarantees neither the accuracy nor completeness of any information and is not responsible for any errors or omissions, or for results obtained by others as a result of reliance upon such information. RSM US LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect information contained herein. This publication does not, and is not intended to, provide legal, tax or accounting advice, and readers should consult their tax advisors concerning the application of tax laws to their particular situations. This analysis is not tax advice and is not intended or written to be used, and cannot be used, for purposes of avoiding tax penalties that may be imposed on any taxpayer.

 

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The content of this post is accurate as of the date below. Always ensure you are reviewing the most recent information available. Contact your tax advisor if you need clarification.

2020-12-28T16:14:56-05:00December 10, 2020|Categories: Tax: Business, Tax: State & Local|Tags: , , |
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