Tax Tips – July 2010

Nexus News

TN

Tennessee

The nexus presumption bill (H.B. 1947 / S.B. 1741) previously introduced in the legislature in February 2009 died in committee upon the adjournment of the Tennessee General Assembly on June 10, 2010.

Going Green – July Update

CA, CT, MA, WV

The trend in new state “green” initiatives continued in July resulting in incentives that are described more fully below.

California

Manufacturing equipment purchased to produce alternative energy provides an exemption from California sales or use tax.


Connecticut

Sunset of sales and use tax exemption for purchases and leases of fuel-efficient motor vehicles ended on July 1, 2010.


Massachusetts

A wind turbine, its component, and the foundation qualify for the sales and use tax exemption when used directly and exclusively in the furnishing of electricity to consumers through mains, lines or pipes.


West Virginia

Purchases of energy-efficient products qualify for a sales and use tax holiday that runs from September 1, 2010 through November 30, 2010. Qualifying products must bear the Energy Star label and be priced at $5,000 or less. The tax holiday applies to purchases for noncommercial homes or personal use but can also apply to purchases by construction contractors for installation into residential dwellings.

With more “green” initiatives becoming available, your business may need to reexamine whether eligibility requirements have been met.

State Amnesty Programs At-a-Glance

¹ 50% interest reduction if you are reporting a tax liability previously unknown to the Department of Revenue or are responding to a Letter of Inquiry, self-audit or self-analysis. 25% interest reduction if you are responding to a bill, delinquency, audit, or other assessment issued by the Department of Revenue.
² Out-of-state retailers will not have to remit use tax on sales made to purchasers in Oklahoma prior ro registering under this initiative.
³ Streamlined Sales Tax amnesty program does not include use tax due on purchases or any other taxes.

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