2022 Tariff Schedule Will Contain Smartphones, Drones, and More

Posted on November 30, 2021. Category: Logistics Publications, Trade Publications

Starting in 2007 with the rollout of the first iPhone, smartphones have become increasingly integrated into the lives of the global population. A person can use a smartphone to communicate with the people they love, and to troll the people they don’t. They can find love by swiping right, order food from their favorite restaurant, and entertain themselves with games or streaming options. Current estimates place a smartphone in the hands of about 80% of the world’s population, with over 400 billion USD in global sales annually.And now 15 years after these multifunctional, somewhat tricky to classify devices became...

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In Case You Missed It: Last Week in Allyn Tax News (November 1-5)

Posted on November 08, 2021. Category: Tax Publications

North Dakota Local Sales and Use Tax Rate ChangeActive January 1, 2022, the city of Richardton is increasing its sales, use and gross receipts tax by 0.5% and removing the $100 per sale maximum tax ceiling. This increase brings the tax rate to a total of 2.5%. There are no added exemptions and contracts bid before January 1, 2022 are excluded from this rate increase. Leases of Buried Dark Fiber Optic Cable In North Carolina: Taxable or Exempt?North Carolina Department of Revenue has issued a private letter ruling to a taxpayer in regard to the leasing of buried dark fiber optic cable. The taxpayer...

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Top Five Mistakes to Avoid in Property Tax in 2021

Posted on November 03, 2021. Category: Tax Publications

Tangible Personal Property Tax OverviewCompanies who have tangible business personal property or inventory located in the U.S. are required to file annual returns of such assets to local taxing authorities. The reported data includes asset cost and year of acquisition, as well as inventory value for states that tax inventory.Many people don’t realize that property tax must be paid on business assets every year that the assets are in use – even if they’ve been written off for income tax purposes. Taxing authorities (counties, cities, and states) place a value on the assets...

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Coronavirus Update - September 23

Posted on September 23, 2021. Category: Coronavirus Updates

Allyn International is committed to providing you with the latest updates during this very fluid and ever-changing period. Our goal with the information provided below is to give you at a high-level, a current overview of the most heavily impacted regions.Maintaining operational success is pivotal and planning ahead remains a critical component to avoiding some of the common issues being experienced today. International transport can be challenging but continuing to compare carrier rates for each individual shipment, planning in advance, obtaining confirmation from your carriers and adding buffer transit time will all assist in making the right decision for...

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In Case You Missed It: Last Week in Allyn Tax News (September 13-17)

Posted on September 22, 2021. Category: Tax Publications

Capital Equipment Exemption in MinnesotaThe Minnesota Department of Revenue has updated a fact sheet explaining the state's capital equipment exemption clarifying that purchasing agent agreements are not required for contractors to purchase capital equipment materials exempt from tax.Persons who buy or lease capital equipment for use in Minnesota are eligible for an exemption or a refund of state and local sales or use tax paid.Exemption certificates can be difficult to keep track of, especially if your business is making multi-state purchases that should be tax-free. Utah’s Marketplace NexusThe Utah State Tax Commission...

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Oregon’s Corporate Activity Tax

Posted on September 15, 2021. Category: Tax Publications

Did you know that several states have their own taxes unique to them that businesses must file in order to remain compliant? States such as Washington, Delaware, and Oregon have state specific taxes. Oregon’s Corporate Activity Tax (CAT) is a state specific tax that was signed into law in May of 2019 and became applicable to tax years beginning January 1, 2020.Oregon’s Corporate Activity Tax is a tax for the privilege of doing business in Oregon and is based on commercial activity in Oregon. This tax applies to commercial activity in excess of $1 million for all types of...

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Driver Shortage

Posted on September 10, 2021. Category: Logistics Publications

The transportation industry is highly aware of the truck driver shortage for some time now. The issue is still very relevant and has gotten worse within the past few years. A recent article stated that “in 2018 the trucking industry was short about 60,800 truckers, a shortfall that is expected to frow to 105,000 drivers by 2023 unless recruitment efforts improve. (Supply Chain Digest, 2021). This affects the whole line of supply chain, including pricing increases. TL and LTL shipment pricing has increased significantly within the past year, simply because of the lack of drivers across the United States. Many of the trucks are...

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$1.1 Trillion Infrastructure Bill is Government’s Latest Move on Cryptocurrency Taxation

Posted on September 09, 2021. Category: Tax Publications

The proposed infrastructure bill valued at just over $1 Trillion over a 5-year period has recently made its way through the senate1. The Bipartisan Infrastructure Deal is monumental and would make some of the largest federal investments in public transit, clean drinking water, bridges, and electrical vehicle infrastructure in the history of the United States. Unfortunately, these things are never as simple as they seem. Although the bill had bipartisan support with a voting of 67-32, it is still not fully out of the woods yet. The bill itself is over 2,000 pages in length and includes funding for some of...

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In Case You Missed It: Last Week in Allyn Tax News (August 30 - September 3)

Posted on September 07, 2021. Category: Tax Publications

Lawn Care in Arkansas: Taxable or Exempt?Lawn mowing services provided to a company that leases houses as vacation rentals are not subject to sales tax because these properties are considered to be residential property. The character of the property determines whether the lawn services are subject to sales tax.If both taxable and non-taxable services are provided to the same customer, the services should be separately stated on the invoice issued to the customer.From a business perspective, bundled transactions can make sense in order to appropriately advertise and sell products as well as to increase revenue. Also, bundled...

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Make or Break: Exemption Certificate Management

Posted on September 03, 2021. Category: Tax Publications

 Generally speaking, sellers are required to charge sales tax on all transactions of taxable products or services, however, there are some exceptions. Some of the more common exceptions are when sales are made directly to the Federal Government, if the buyer intends to resell the item in question, or if it will become a part of a manufactured final product.In the United States, state sales tax rates vary from 4.44% to 9.55% depending on the State in question. There are a multitude of reasons including the previously mentioned as to why an otherwise taxable transaction may be considered exempt from...

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