Starting the new year off with legislation aimed directly at the pockets of corporate taxpayers, New York has issued a legislative proposal to nearly cut in half corporate taxpayersâ available GILTI exemptions, and at the same time almost double the top corporate franchise tax rate. Senate Bill 953 (âSB953â), pre-filed in the state senate on January 8, 2025, has the potential to significantly increase New York franchise tax exposure for corporations doing business in the…
Texas has now joined the growing number of states proposing digital advertising taxes that we have covered previously on SALT Savvy, including Marylandâs first-in-the-nation digital advertising tax law and other proposals from Connecticut, New York, and Montana. This new Texas billâH.B. 4467â would take effect in 2022. The Texas proposal is very similar to the recently-enacted Maryland digital ad tax (H.B. 732) and would impose a new âdigital advertising taxâ on annual gross revenues derived…
State legislators have already proposed a number of digital and data tax bills in 2021, some of which are new proposals while others reintroduce proposals from previous legislative sessions. The proposed bills fall into one of three categories: taxes on digital advertising services, taxes (or fees) targeting social media providers, and taxes on the sale or monetization of personal data.  Most of the proposals are in the early stages, but a Maryland bill originally introduced last year is moving closer to a legislative vote on whether to override the governorâs veto.
On Monday, July 27, the Senate Finance Committee released draft legislative provisions (âCOVID-19 Billâ) regarding the next iteration of Coronavirus relief. Somewhat surprisingly, the provisions include the Remote and Mobile Worker Relief Act of 2020, which was introduced earlier this year as S. 3995 by Sens. Sherrod Brown (D-OH) and Jon Thune (R-SD). S. 3995 appears to be based on S. 604, the Mobile Workforce State Income Tax Simplification Act (âMobile Workforce Actâ), which was…