News & Publications
In Case You Missed It: Last Week in Allyn Tax News (August 15 - 19)
Stay In The Know, While On The Go
Just recently, California passed a budget trailer bill regarding the sale and use of diesel fuel. From October 1, 2022 to October 1, 2023, gross receipts from the sale, storage, use, or consumption of diesel fuel are exempt from sales and use taxes. This exemption only applies to sales or use activities taking place within the state of California. The bill does not affect any taxes enacted under the Bradley-Burns Uniform Local Sales and Use Tax Law or the Transactions and Use Tax Law, however.
Limit Your Company’s Tax Exposure When Under Audit
Imagine this: you’re under audit in California for sales tax dating back through 2019. On top of invoices, data files, and balance sheets, the auditor asks for an exemption certificate linked to a $4M sale. You panic. “That’s something from December 2019. I don’t even know what I had for breakfast yesterday.” You can’t supply the auditor with that request in 60-days, so you’re assessed penalties, interest, and the taxes from that $4M sale.
Assess the Assessor
Just recently, the original valuation of a mixed-use building at the 2020-2021 tax year real market value (RMV) was upheld. The building in question was the Beacon Hotel in Seaside, Oregon, a two-story building that serves as a restaurant, retail, and banquet space. The property owner and the assessor had requested adjustments to the real market value of the property, both of which were denied. In the assessor’s case, it was noted that they had solely relied on single-use properties for comparison when it was a mixed-use building being assessed. Don’t be afraid to assess the assessor, most assessors would rather work with you to determine why there is a difference than go through the appeal process.
For More Information
If you are interested in learning more about this topic or other tax topics, please visit our Tax Publications under News & Publications at www.allynintl.com.
About Allyn International
Allyn International is dedicated to providing high quality, customer centric services and solutions for the global marketplace. Allyn's core products include transportation management, logistics sourcing, freight forwarding, supply chain consulting, tax management and global trade compliance. Allyn clients range from small local businesses to Fortune 500 firms. Allyn conducts business in more than 20 languages and has extensive experience in both developed and emerging markets. Highly trained experts are positioned throughout North and South America, Europe and Asia. Allyn’s regional headquarters are strategically located in Fort Myers, Florida, U.S.A., Shanghai, P.R. China, Prague, Czech Republic, and Dubai, U.A.E. For more information, visit www.allynintl.com.