President’s FY2023 Budget

April 5, 2022

President’s FY2023 budget The President’s FY2023 budget includes proposals that would affect how certain income and deductions are calculated for federal income tax purposes, such as the new undertaxed profits rule and tax incentives for locating jobs in the United States. Subject to exceptions, the proposals are generally effective in tax years beginning after December 31, 2022. […]

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Arizona running out of tax credit funds; issuing awards on a first-come, first-serve basis

April 4, 2022

Apr. 4, 2022 In brief Arizona provides a refundable Qualified Facility Tax Credit (QFTC) program and a non-refundable Quality Jobs Tax Credit (QJTC) program. Both programs can be advantageous for businesses looking to locate or expand in Arizona, including those that have done so in the previous 36 months. The Arizona Commerce Authority (ACA) may authorize up to $125 […]

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State Tax Alerts and Updates

April 1, 2022

Mississippi—Corporate, Personal Income Taxes: Rural Economic Development Credit Extended Mar. 30, 2022 The sunset date for the Mississippi rural economic development credit that may be claimed against corporate and personal income taxes is extended to October 1, 2025. The credit was previously scheduled to sunset on October 1, 2022. S.B. 2846, Laws 2022, effective July […]

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