Alysse McLoughlin
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Alysse McLoughlin focuses her practice on state and local tax matters, with particular emphasis on working with financial services companies. Alysse handles state tax litigation and also advises with respect to planning opportunities. Read Alysse McLoughlin's full bio.
Washington Surtax on “Big Banks” Struck Down as Unconstitutional
By Kathleen M. Quinn, Alysse McLoughlin, Stephen P. Kranz and McDermott Will & Emery on May 18, 2020
Posted In Local Tax, Maryland, Oregon, Washington
On May 8, Washington’s 1.2% surtax on “specified financial institutions” (banks with at least $1 billion a year in net revenue) was struck down by a King County Superior Court judge. Judge Marshall Ferguson ruled that the tax, which is imposed on top of all other taxes, violates the Commerce Clause of the US Constitution...
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The Nexus Implications of Teleworking
By Elle Kaiser, Alysse McLoughlin and Kathleen M. Quinn on Apr 2, 2020
Posted In Income Tax, Mississippi, Nationwide Importance, New Jersey, Nexus, Tax Base
Over the past several weeks, state and local governments have issued a slew of “stay-in-place” or “shelter-in-place” orders mandating the closure of all “nonessential businesses” and requiring all persons to self-isolate. For most companies, this means that most, if not all, of their employees are required to work remotely. While telework has become a great...
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CARES Act Could Result in Taxation of More GILTI in New Jersey
By Alysse McLoughlin and Kathleen M. Quinn on Mar 30, 2020
Posted In Federal Tax, Income Tax, Nationwide Importance, New Jersey, Tax Base
The federal stimulus bill (the CARES Act), HR 748, which was signed into law by President Trump on March 27, includes certain corporate income tax provisions designed to provide relief to corporate taxpayers. One such provision–the net operating loss (NOL) provision that allows taxpayers to carryback NOLs to prior years–could have unintended consequences at the...
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Tax Commissioners: Please Drop Unnecessary or Dangerous Tax Administration Requirements
By Alysse McLoughlin, Stephen P. Kranz and McDermott Will & Emery on Mar 27, 2020
Posted In Federal Tax, Income Tax, Interest and Penalties, Local Tax, Nationwide Importance, Sales Tax
This week we wrote a letter to state tax administrators, sharing five key suggestions for relieving undue tax administration burdens in the wake of this difficult COVID-19 situation. As explained, “at a time when many people are working from home and should not or cannot go to post offices or banks, a business-as-usual attitude for...
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STAR Partnership and State Responses to GILTI
By Alysse McLoughlin, Diann Smith and Stephen P. Kranz on Nov 27, 2018
Posted In Federal Tax, Nationwide Importance, Tax Base
While the state treatment of global intangible low-taxed income (GILTI) was on the mind of many taxpayers, most state legislatures that enacted legislation in 2018 focused on the state treatment of foreign earnings deemed repatriated under IRC § 965, leaving the state treatment of GILTI unclear in many states. That said, of the states that...
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2018 Recap: State Responses to the Repatriation Transition Tax in the Tax Cuts and Jobs Act
By Alysse McLoughlin, Diann Smith and Stephen P. Kranz on Nov 26, 2018
Posted In Federal Tax, Income Tax, Nationwide Importance, Tax Base
Since the Tax Cuts and Jobs Act (TCJA) passed in December 2017, over 100 bills were proposed by state legislatures responding to the federal legislation. Thus far in 2018, nearly half of states have passed legislation responding to the TCJA. With some exceptions, in this year’s legislative cycles the state legislatures were primarily focused on...
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New Mexico Administrative Hearings Office Issues Timely Opinion Regarding State Taxation of Subpart F Income and Dividends from Foreign Affiliates
By Alysse McLoughlin and Kathleen M. Quinn on Apr 19, 2018
Posted In Federal Tax, Income Tax, Nationwide Importance, New Mexico, Tax Base
Earlier this month, the New Mexico Administrative Hearings Office issued an opinion that addressed the questions on the minds of many state tax professionals in the wake of federal tax reform: under what circumstances can a state constitutionally impose tax on a domestic company’s income from foreign subsidiaries, including Subpart F income, and when is...
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Overview of Minnesota’s Response to Federal Tax Reform
By Kathleen M. Quinn, Eric Carstens, Diann Smith, Alysse McLoughlin and Stephen P. Kranz on Mar 29, 2018
Posted In Federal Tax, Income Tax, Local Tax, Minnesota, Nationwide Importance
Minnesota has several bills pending that would address the Minnesota state tax implications of various provisions of the federal tax reform legislation (commonly referred to as the Tax Cuts and Jobs Act). HF 2942 HF 2942 was introduced in the House on February 22, 2018. This bill would provide conformity to the Internal Revenue Code...
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Illinois Confirms Treatment of Deemed Repatriated Foreign Earnings Provisions
By Lauren A. Ferrante, Diann Smith, Alysse McLoughlin and Stephen P. Kranz on Mar 23, 2018
Posted In Federal Tax, Illinois, Income Tax, Nationwide Importance, Tax Base
On Wednesday, the Illinois Department of Revenue (Department) issued additional guidance concerning its treatment of the new deemed repatriated foreign earnings provisions found in Internal Revenue Code Section 965, enacted in the federal tax reform bill (known as the Tax Cuts and Jobs Act, or “TCJA”). The Department confirmed key aspects of Illinois’ treatment of...
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More States Respond to Federal Tax Reform
By Alysse McLoughlin, Diann Smith, Kathleen M. Quinn and Stephen P. Kranz on Mar 19, 2018
Posted In Federal Tax, Idaho, Income Tax, Iowa, Minnesota, Nationwide Importance, New York, Tax Base
It’s been nearly three months since the federal tax reform bill (commonly referred to as the Tax Cuts and Jobs Act, or “TCJA”) was enacted and states continue to respond to the various provisions of the TCJA. Recently, there have been notable legislative efforts in New York, Idaho, Iowa and Minnesota. New York Starting with...
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