An IRC conformity bill was signed updating the state’s bank franchise (income), property, and sales and use tax federal conformity date to the most recent version of the federal Internal Revenue Code (IRC). The IRC conformity date is now January 1, 2018 (previously, January 1, 2017) for the:
-bank franchise tax;
-sales and use taxes; and
-for certain property tax provisions.
H.B. 1049 , Laws 2018, effective July 1, 2018
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Author: CCHTaxGroup
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