State Tax Update: Maryland, Virginia & Georgia Webinar

To provide tax professionals and business owners with an update on recent state tax developments in Maryland, Virginia, and Georgia, including conformity rules, OBBBA provisions, and key legislative changes impacting state tax compliance and planning.

• Internal Revenue Code Conformity
  – Rolling vs. static conformity
  – State conformity considerations and how it impacts the application of provisions in:
     • Section 163 (j), Section 174, bonus depreciation, Section 179
  – Impact on multistate tax compliance
• One Big Beautiful Bill Act (OBBBA)
  – Section 163(j) business interest limitations
  – Section 174 research and development expenses
  – Bonus depreciation
  – Section 179 expensing
  – SALT deduction changes
• Pass-Through Entity Tax (PTET)
  – SALT cap considerations
  – Election requirements
  – State-specific PTET rules
• Georgia Tax Updates
  – IRC conformity
  – Corporate income tax rate reductions
  – PTET election requirements
• Maryland Tax Updates
  – Automatic decoupling provisions
  – Maryland sales and individual income tax updates
  – PTET base expansion
  – Individual income tax updates
• Virginia Tax Updates
  – Transition to static conformity
  – Business interest deduction treatment
  – Permanent PTET provisions
• Multistate Tax Planning Considerations
  – Conformity differences
  – Compliance challenges
  – Practical planning opportunities

To provide tax professionals and business owners with an update on recent state tax developments in Maryland, Virginia, and Georgia, including conformity rules, OBBBA provisions, and key legislative changes impacting state tax compliance and planning.

DETAILED LEARNING OBJECTIVES

• Differentiate between rolling conformity and static conformity methods used by states

• Identify how state conformity affects the application of federal tax law changes

• Recognize the state tax implications of OBBBA provisions commonly affected by state conformity and decoupling

• Explain the purpose and operation of pass-through entity taxes and the federal SALT deduction limitation

• Identify significant Georgia tax law developments affecting businesses and pass-through entities

• Describe Maryland's conformity approach and recent state tax law changes

• Identify recent Virginia conformity and state tax developments

• Apply current Maryland, Virginia, and Georgia tax law developments to common state tax compliance situations

• Internal Revenue Code Conformity
  – Rolling vs. static conformity
  – State conformity considerations and how it impacts the application of provisions in:
     • Section 163 (j), Section 174, bonus depreciation, Section 179
  – Impact on multistate tax compliance
• One Big Beautiful Bill Act (OBBBA)
  – Section 163(j) business interest limitations
  – Section 174 research and development expenses
  – Bonus depreciation
  – Section 179 expensing
  – SALT deduction changes
• Pass-Through Entity Tax (PTET)
  – SALT cap considerations
  – Election requirements
  – State-specific PTET rules
• Georgia Tax Updates
  – IRC conformity
  – Corporate income tax rate reductions
  – PTET election requirements
• Maryland Tax Updates
  – Automatic decoupling provisions
  – Maryland sales and individual income tax updates
  – PTET base expansion
  – Individual income tax updates
• Virginia Tax Updates
  – Transition to static conformity
  – Business interest deduction treatment
  – Permanent PTET provisions
• Multistate Tax Planning Considerations
  – Conformity differences
  – Compliance challenges
  – Practical planning opportunities