Reduce Your Inventory Taxes with Freeport Exemptions

Posted on March 07, 2019. Category: Tax Publications

In many localities across the US, moveable assets owned by a business are designated as tangible business personal property and taxed annually by the jurisdiction they are located in. This tax is known as the Business Personal Property Tax, and the type of assets considered as business personal property include, but are not limited to, furniture, tools, signage, equipment and inventory (although these items can be defined differently by each state, county or city.) If this type of property is owned or leased, a business will be required to file a return each year to report the value of these... Read More

New York Takes a Bold Approach to Economic Nexus

Posted on March 07, 2019. Category: Tax Publications

The Department of Taxation and Finance for the state of New York amended its Sales Tax registration requirements as of January 1 for remote sellers within the state in response to the US Supreme Court case South Dakota vs. Wayfair. The new registration requirements take effect immediately, making NY the first state not to establish an enforcement grace period for their new nexus parameters.Remote sellers with no physical presence in the state are now required to register as vendors in New York if they meet both of the following criteria:1)    The Seller made more than $300,000 in tangible... Read More

Tariff Hikes Postponed Indefinitely

Posted on March 05, 2019. Category: Trade Publications

Per the Federal Register Volume 84, Number 43 (Tuesday, March 5, 2019), the U.S. Trade Representative (USTR) has postponed the date of which duty rates will increase to 25% for items covered by section 301 list 3.The rate will remain at 10% until further notice.This postponement comes in advance of a speculated late March 2019 summit between Presidents Trump and Xi.  Hopefully, this summit will lead to the end of the tariff war between the US and China, but there are still major hurdles involving items such as:  intellectual property, technology transfer, currency and other issues.If you would like additional information on... Read More

Tane Mahuta and the Importance of Biosecurity

Posted on March 05, 2019. Category: Logistics Publications

Tāne Mahuta also rightly referred to as 'Lord of the Forest' is New Zealand’s largest known living kauri tree. A whopping 4.4 meters in diameter, over 50 meters tall, and said to be over 2,000 years old but is still very much growing.This magnificent beauty has been the centerpiece of thousands of school trips over generations of children across New Zealand. Unfortunately, Tane Mahuta, who resides in in the truly magical Waipou Forest, is on the verge of extinction.Phytophthora Agathidicida is a Pathogen that causes what has been named “Kaura Dieback;” it is a disease... Read More

Puerto Rico Sales and Use Tax Collection

Posted on March 04, 2019. Category: Tax Publications

Since the Supreme Court decision on the South Dakota vs. Wayfair case, we’ve noticed many states reviewing the way economic nexus can be established with out of state retailers. This decision has encouraged many states to start legislation to take advantage of the benefits of this new ruling. Others, like the US territory of Puerto Rico, have seen the ruling as an ally on their quest to collect sales and use tax though online retailers.Puerto Rico started their online tax collecting endeavor with the establishment of Law #1-2011 on January 31, 2011 named Internal Revenue Code for a New... Read More

The Historical Evolution of GE-Wuhan Boiler Company

Posted on February 28, 2019. Category: Logistics Publications

Photo by Peiran Li Wuhan Boiler Company located in Wuhan City, Hubei province, was established in 1953 and has more than 60 years of experience in designing and making boilers. In 2007, Alstom became the controlling shareholder of WBC. In 2015, WBC joined GE Power and become a member of GE. Now, WBC covers 173,000 meter of area and has around 2,000 employees in Wuhan.WBC main products include tower Boiler, Two Pass Boiler, CFB Bolier (circulating fluidized bed boiler), HRSG Drum and Mills ect.Key differentiators of WBCThe first boiler maker in the world can perform in house shot peening, the longest... Read More

TuSimple to Build Largest Self-Driving Fleet

Posted on February 27, 2019. Category: Logistics Publications

TuSimple, the autonomous truck developer, plans to expand its U.S. test fleet to 40 trucks by June 2019. This announcement was made during the International Consumer Electronics Show (CES), where the company displayed their Navistar International LT model. This vehicle has been outfitted with automated driving technology which allows it to “perceive and interpret” it’s surroundings. Chuck Price, Vice President of product at TuSimple, stated “Last year we announced our intent to build a 200-truck fleet. These 40 trucks that we’re acquiring [are] a down payment on that.”TuSimple has dual headquarters located in... Read More

The Tax Cut and Jobs Act of 2017 and the Logistics Market

Posted on February 26, 2019. Category: Logistics Publications

New tax reforms were implemented in 2017 to lower taxes for businesses and individuals. The Tax Cuts and Jobs Act (TCJA) lowered the corporate tax rate from 35% to 21%. The intent of the reform is to help businesses lower expenses (Wunderlin, 2018). Many professionals such as Chris Spear, the CEO of the American Trucking Associations (ATA), view this change positively. Spear has been promoting the benefits of the new tax reform and believes it will boost investments, increase jobs, and improve the bottom line of supply chain businesses. (Berman, 2019)There are several significant aspects of this bill that will promote company growth.... Read More

ISF-5 Enforcement Begins March 15, 2019

Posted on February 22, 2019. Category: Trade Publications

Liquidated damage claims for ISF-5 violations were to be enforced by CBP starting on January 21, 2019. However, due to the government shutdown and accompanying funding lapse, the implementation was delayed.CBP outlines the enforcement in Cargo System Message CSMS #19-000063. Stating that:CBP is ending its delayed enforcement period for ISF-5 violations and will begin issuing liquidated damages claims for violations of the ISF-5 requirements on March 15, 2019. Please ensure that you are in compliance before that time.ISF-5 is mainly for Freight Remaining Onboard (FROB), as well as Immediate Export (IE) and Transportation and Exportation (TE) Bonds.For an ISF-5 filing... Read More

Managing Time Critical Shipments

Posted on February 19, 2019. Category: Logistics Publications

In a steam power plant, projects may be faced with unexpected events. In order to meet a recurrent requirement, business requires to utilize time critical logistics. Some examples may be missing or broken spare parts in the project commission stage or specific needs such as transporting samples for a test.Allyn International (Allyn) has been managing time critical shipments for clients in many projects. Allyn expedites and manages shipments that require a definite arrival time as well as reduce delay probability to best meet client’s requirements.When Allyn is notified with a critical notice from a client, they... Read More

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