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Rhode Island Adopts Corporate Tax Changes
Posted by Tarra Curran on Thu, Mar 24, 2016 @ 07:30 AM

Updated guidance on corporate nexus, combined reporting, and market-based sourcing

Rhode Island recently enacted changes to corporate tax requirements that include updated guidance for corporate nexus, combined reporting, single sales factor apportionment and market-based sourcing.

Business Corporation Tax Corporate Nexus Regulation CT 15-02 (CT 15-02) provides enhanced guidance about which activities make a foreign corporate entity subject to Rhode Island income tax. Business Corporation Tax Apportionment of Net Income Regulation CT 15-04 (CT 15-04) makes changes to corporate tax reporting along the lines of the rules adopted for years 2009 and later by Massachusetts and those recently enacted by Connecticut. They are also similar to the market-based sourcing changes enacted by Massachusetts in 2015 and New York in 2016. Rhode Island’s adjustments, however, are more stringent than the changes adopted by Massachusetts and generally allow for fewer exemptions.

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Topics: Tarra Curran, Market-Based Sourcing, economic nexus, corproate nexus, nexus, combined reporting

State Income Tax Nexus: No Physical Presence Required
Posted by Tarra Curran on Mon, Jun 13, 2011 @ 02:45 PM

The CBIZ Tofias client base tends to include many medium to large businesses that sell products and services across state lines, and many of these businesses reach their customers through the internet.  Selling over the internet tends to mean that these businesses only establish a "physical presence"[1] in one or two states, even though they may have customers in all 50 states.  Increasingly, our New England offices are fielding calls from clients who are surprised to discover that they are subject to income tax in states where they have "economic nexus" but no physical presence.

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Topics: Tarra Curran, Sales Tax, state and local tax (SALT), corproate nexus, nexus, tax nexus, new england state and local tax

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