First quarter 2019 state and local tax developments

In this issue:

Q2 legislative radar

This section highlights pending Kentucky and New York legislative items that may be enacted in early Q2.

Highlighting significant state tax developments

This section presents a brief summary of the following significant SALT Insights we published this quarter:

• State tax implications: 2018 federal tax reform guidance, Section 385 developments
• State tax issues and opportunities for pharmaceutical and life sciences companies
• New Jersey Tax Court allows full deduction for royalty income, invalidates tax form schedule
• Federal opportunity zones offer state tax opportunities, complexities

All first quarter SALT Insights

Starting on page 7 we categorize all the state and local tax developments on which we issued Insights over the last three months. Each item is linked to a PwC Insight that provides analysis and observations regarding the development.