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Significant SALT Developments for 2024 and Predictions for 2025
January 28, 2025 @ 2:00 pm – 3:30 pm EST
Event description
An overriding theme of the developments that we tracked from a state and local tax (SALT) perspective in 2024 related to the scope of the state tax authority. The world of administrative law experienced a dramatic shift with the U.S. Supreme Court’s June 2024 ruling in Loper Bright. Also, the interpretation of Public Law 86-272 continued to make news, with several developments focusing on the broader issue of how much power state tax authorities may have to interpret this federal law. The ability of taxpayers to utilize the state net operating loss attribute also received considerable attention in 2024. In California, many taxpayers are deeply concerned by the controversial chain of events that began with a decision by the Office of Tax Appeals in Microsoft, and continued with legislation reacting to the decision, leading to legal challenges to the legislation itself. While no state completely shifted its corporate income tax filing method regime from separate reporting to mandatory combined reporting this past year, Colorado and South Carolina enacted significant legislation addressing standards governing combined reporting filings. On this webcast, we will discuss significant SALT developments, assess predictions made in 2024 and outline expected key SALT developments for 2025.
Date and time
Tuesday, January 28, 2025
2:00 PM ET – 3:30 PM ET
Recommended CPE credits
1.5
Learning objectives
Identify likely occurrences in the SALT world in 2025
List major state income tax and indirect tax developments during 2024
Analyze issues faced by state legislatures at the outset of the 2025 legislative sessions
