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Drew Hemmings

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The Baker McKenzie SALT team presented the second session of its monthly webinar series covering coast-to-coast state and local tax developments on August 5, 2020.  This month’s SALT Savvy webinar features Baker McKenzie Economist Holly Glenn, who shares her thoughts on the recent transfer pricing developments in Indiana and other states. If you were unable to attend the session, links to the recording and materials are provided below: View the recorded webinar Download the materials

Numerous states have provided tax relief in response to the COVID-19 outbreak, often in the form of tax filing and payment deadline extensions.  At this time, 41 states and Washington, D.C. have provided a corporate income tax filing and/or payment deadline extension.  Most recently, Florida extended its May 1, 2020 corporate income tax deadlines to August 3, 2020 for filing and June 1, 2020 for payment.  Since the payment deadline is sooner than the filing deadline, the Florida Department of Revenue advised corporate taxpayers to submit payments based on their best estimate of the tax that would be due with the return.  Some states have also extended income tax deadlines for partnerships and other business entities and many states have extended individual income tax deadlines.