- Multinational companies with annual revenue of at least $850 million are required to comply with country-by-country reporting requirements for tax years beginning on or after July 1, 2016.
- Taxpayers eligible for the favorable exception of changing their method of accounting during the “three-month window” need to know that period starts July 15, 2016.
- States are becoming increasingly creative in their attempts to raise their tax base, including implementing aggressive nexus and income apportionment rules for income and franchise tax.
- States are renewing efforts to impose sales tax on internet and other remote sales with sixteen states now have “click through” nexus laws on their books.
- State qui tam laws and the expansion of tobacco taxes to address the growth of electronic cigarettes continue to lead 2015 state and local tax trends.
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