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KBF State Income Tax Newsletter – 2nd Quarter 2025
KBF’s quarterly newsletter updates clients on state and local income/franchise tax news, developments, and trends. Please note that this information is for discussion purposes only and does not constitute specific…
Read MoreHigh Court Win for PepsiCo – Implications for Multinationals
The High Court of Australia has handed PepsiCo Inc. a significant victory in a closely watched cross-border tax case. In a 4–3 decision, the court dismissed the Australian Taxation Office’s…
Read MoreU.S. Overhauls International Tax System in the One Big Beautiful Bill Act
On July 4, 2025, President Donald Trump signed into law the One Big Beautiful Bill Act (OBBBA), marking the most significant reform of U.S. international tax provisions since the Tax…
Read MoreMajor Changes Coming to Texas Research and Development Tax Benefits
Texas has enacted significant changes to how businesses benefit from research and development (R&D) tax incentives. Starting January 1, 2026, the state is streamlining its R&D benefits by replacing the…
Read MoreWashington State Enacts Comprehensive Tax Reforms for 2025-2027
On May 20, 2025, Washington Gov. Bob Ferguson signed multiple tax bills into law as part of the biennial budget passed by the state legislature on April 28, 2025. The…
Read MoreKBF Sales and Use Tax Newsletter – 1st Quarter 2025
Here are recent court rulings, legislation, and administrative changes that have significantly impacted sales tax landscapes across the country. In Indiana, online video game subscriptions, in-game items, and virtual currency…
Read MoreKBF State Income Tax Newsletter – 1st Quarter 2025
KBF’s quarterly newsletter updates clients on state and local income/franchise tax news, developments, and trends. Please note that this information is for discussion purposes only and does not constitute specific…
Read MoreMichigan Enacts Refundable R&D Tax Credit
On January 13, 2025, Governor Gretchen Whitmer signed bipartisan legislation re-establishing a refundable Research and Development (R&D) Tax Credit as part of the Michigan Innovation Fund initiative. Primarily through House…
Read MoreNavigating State Tax Nexus in the Digital Age
In today’s interconnected world, understanding state tax nexus is crucial for businesses of all sizes. The concept of nexus, the requisite connection between a business and a jurisdiction that allows…
Read MoreR&D Tax Credit Reporting: New Rules, New Requirements
The federal research and development (R&D) tax credit, while a valuable incentive, has long been known for its complexity. The tax return itself has historically been relatively straightforward, the IRS…
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