Tax News Highlights

Oct. 24, 2013

State Tax

Illinois Supreme Court Strikes Down State’s Click-Through Nexus Bill 

Under a recent Illinois Supreme Court ruling, many out-of-state Internet retailers no longer will be required to collect sales tax.

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Federal Tax

Opportunity Exists to Expense Property and Simplify Compliance Under Final Tangible Property Regulations 

Under the final tangible property regulations, taxpayers can elect to use book accounting classifications to deduct insignificant capital expenditures and simplify compliance with the new regulations.

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Howard M. Wagner
Partner, National Tax Services