State Tax Overhaul.

The Tax Foundation outlined a number of important state tax changes in 2020 in thirty-five states, including updates to both individual and corporate taxation. Regarding the latter, some major changes were implemented January 1, such as increases or decreases in--or even elimination of--corporate rates. Other updates tend to be related to apportionment or post-Way fair nexus standards.

No matter what state(s) in which your company does business, in-house tax professionals must be apprised of the ever-evolving corporate tax environment in the United States. Below are a few highlights the Tax Foundation noted in its report. To see the Tax Foundations more thorough breakdown of state tax changes in 2020, visit www.taxfoundation.org/2020-state-tax-changes-january-1.

7 states decreased or eliminated...