TCJA/CARES Act Conformity Maps and NOL Conformity Chart

These maps track specific state corporate tax law conformity to the recent federal changes made to IRC § 163(j) interest expense limitation, 80% cap rules, and Qualified Improvement Property asset life, and NOL carryback (state-by-state chart also included) in the CARES Act and TCJA.  If you have any questions please contact Karl Frieden, Nikki Dobay, or Stephanie Do.

Tracking Chart: State and Local Government Filing Relief due to COVID-19

To help our members keep track of state and local government filing relief due to COVID-19, COST is compiling a state-by-state chart of guidance that has been issued on the matter. COST staff will update the chart on a regular basis as we see more guidance. If you have any additional information to share that is not on the chart, please contact Pat Reynolds or Priya Nair.

Request for Automatic One-Month Late Filing Penalty Waiver Due to Simultaneous State and Federal Return Deadlines

COST has urged over 25 states to provide an automatic one-month penalty waiver for filing extended corporate returns that are due on October 15, 2019. This automatic penalty relief, which would apply to late filing is warranted due to the change of the federal corporate tax return due date from September 15 to October 15. It will allow corporations a reasonable time to accurately file their state corporate income tax returns (and deal with the complexity of the 2017 federal tax reform changes). COST is tracking and making available state responses to these requests in a tracking chart available below.

Tracking Chart: State Responses to Federal Tax Reform

To help our members keep track of the states’ responses to federal tax reform COST is compiling a state-by-state chart of legislative and administrative actions, state-specific studies, and news coverage of various proposals. COST staff will update the chart on a regular basis as we see more responses. If you have any additional information on state responses to federal reform, please contact David Sawyer or Aziza Farooki.