KPMG reports: Louisiana, New Jersey

KPMG reports focus on recent state and local tax developments

KPMG reports focus on recent state and local tax developments

KPMG This Week in State Tax—produced weekly by the KPMG State and Local Tax practice—focuses on recent state and local tax developments.

  • Louisiana: The Board of Tax Appeals denied a taxpayer’s peremptory exception of no cause of action (i.e., motion to dismiss on the grounds that the plaintiff cannot prove any set of facts which would entitle it to relief) in a case in which the Louisiana Department of Revenue alleged that the taxpayer owed sales and use tax on complimentary hotel rooms and poolside cabanas provided to patrons of the taxpayer’s casino.
  • New Jersey: Assembly Bill 5323 was signed into law by the governor. This bill made significant revisions to New Jersey’s corporation business tax laws, including further refinements to the state’s combined reporting provisions.  The Division of Taxation has begun issuing guidance relating to the changes in Assembly Bill 5323; in many instances, the Division is updating previously released Technical Bulletins to incorporate the recent law changes. TB-87(R) was revised to address the application of the IRC section 163(j) limitation to combined groups and the repeal of the state related party interest and intangible expense addback requirement. TB-93(R) was revised to reflect the expanded definition of a unitary business that is applicable to privilege periods ending on and after July 31, 2023.

Read an August 2023 report prepared by KPMG LLP


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