Insights

Last Week in Allyn Tax News

December 14, 2021.

Taxable Values: Don’t Be Afraid to Appeal Every year companies must file business personal property returns to the various local taxing authorities where they hold assets. These returns determine the taxable values that those authorities use to calculate your annual business property tax. Most jurisdictions, upon receipt of...

The Future of The Global Supply Chain

December 11, 2021.
Logistics Publications, Trade Publications

The COVID- 19 pandemic brought significant challenges for the supply chain, the rapid spread of the virus, the international shootdowns, and the logistic disruptions reduced industrial and transportation activities creating chaos in the global supply chain. Mike Mayran, the director for the Massachusetts Port Authority says, “There was not a...

In Case You Missed It: Last Week in Allyn Tax News (November 22-26)

December 01, 2021.

New York City, NY Issues the City’s Property Tax Rates for the 2022 Tax Year The New York City Department of Finance has issued that the 2022 property tax rates are: Class 1 property – 19.963%, Class 2 property – 12.235%, Class 3 property – 12.289%, and Class 4 property – 10.755%. Iowa Issues Guidance for Remote Sellers...

Entry Audit

November 30, 2021.
Logistics Publications, Trade Publications

Entry Audit In an environment with changing regulations, the need for import/export transactions to meet compliance requirements is critical to success. Allyn experts review transactions to identify inaccuracies quickly and correct them appropriately. We review 100% of entries to verify the accuracy of transactions (including tariff classification, valuation, and origin...

2022 Tariff Schedule Will Contain Smartphones, Drones, and More

November 30, 2021.
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,...

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

November 08, 2021.

North Dakota Local Sales and Use Tax Rate Change Active 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...

Top Five Mistakes to Avoid in Property Tax

November 03, 2021.
Tax Publications

Tangible Personal Property Tax Overview Companies 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...

A New Approach to U.S. China Trade Relationship

October 27, 2021.
Logistics Publications, Trade Publications

The U.S. Trade Representative (USTR) has laid out the Biden administration’s new approach to the U.S. trade relationship with China. With the goal of “creating a level playing field for the American workers, farmers, and businesses”, the administration has spent several months examining...

Rates Rise for U.S. Shippers by 5.9% for DHL

October 11, 2021.
Logistics Publications, Trade Publications

Due to inflation and an increase in investments, carriers are experiencing higher costs. These higher costs are causing many price hikes for various carriers including DHL and FedEx. Effective January 1, DHL will raise its rates by 5.9% to match the price hike of FedEx. This price increase will include account holders...

Merchandise Processing Fee (MPF) 2021 Update

October 01, 2021.
Logistics Publications, Trade Publications

Per the CSMS #48938836 Message the US Customs and Border Protection (CBP) will be adjusting certain user fees on October 1, 2021. The minimum merchandise processing fee (MPF) will be increased to $27.75 from $27.23 and the maximum will be raised to $538.40 from $528.33. MPF is assessed by CPB for most imports into the US on...

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

September 22, 2021.
Tax Publications

Capital Equipment Exemption in Minnesota The 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...

Oregon’s Corporate Activity Tax

September 15, 2021.
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...