Florida—Corporate Income Tax: Guidance on Internship Tax Credit Program Issued Feb. 28, 2022 For corporate income tax purposes, the Florida Department of Revenue published a tax information publication on the Florida internship tax credit program. For taxable years beginning during the 2022 and 2023 calendar year, a student internship tax credit is available. The program […]
Feb. 3, 2022 Connecticut Gov. Ned Lamont announced a package of tax proposals that would: accelerate the phase-in of the personal income tax exemption for pension and annuity income; expand the corporation business tax credit for student loan repayments by employers; restore eligibility for the property tax credit to all personal income taxpayers and increase the credit; […]
New Jersey Governor (Gov.) Phil Murphy signed legislation (S-4094/A-6070) that expands digital media production tax credits, bolstering the implementation of the New Jersey Film & Digital Media Tax Credit Program. Under the legislation, the amount of the digital media content production portion of the tax credit program is increased while maintaining the overall cap on tax […]
Ways & Means subpanel holds Opportunity Zone hearing Nov. 18, 2021 The House Ways & Means Oversight Subcommittee November 16 held a hearing, “The Opportunity Zone Program and Who It Left Behind,” that focused on potential improvements to the program, including more accurate data, a refundable tax credit element, and new qualification parameters. Reforming the program could […]
Signed on May 14, H.B. 629 enacted Grow Montana Jobs, an annual Job Growth Incentive Tax Credit (Job Growth Credit). This new credit is a nonrefundable annual job growth incentive credit against state income tax available for calendar years 2022 through 2028. The credit is equal to 50% of Montana FICA taxes paid by an employer multiplied by the […]
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