Insights

In Case You Missed It: Last Week in Allyn Tax News (June 6 - 10)

June 13, 2022.
Tax Publications

When Was the Last Time You Completed a Nexus Review? Act Now! In Arkansas, an assessment against a taxpayer of compensating use tax was sustained because it was ruled that the taxpayer had met nexus with the state. After asserting that they did not have physical presence in the state,...

Should I Ship FTL or LTL? Does It Matter?

June 10, 2022.
Logistics Publications

When it comes to freight, size does matter. Whether your business is just starting or wanting to be proactive with upcoming holiday season volume- you’ll want to plan the logistics of goods and products—the “how” in getting goods from point A to point B....

Biden Administration Considers “Reconfiguring” Section 301 Tariffs to Combat Record Inflation

June 09, 2022.
Trade Publications

On Wednesday, June 8, US Treasury Secretary Janet Yellen told lawmakers that the Biden administration is strongly reconsidering its approach to the Section 301 tariffs placed on Chinese goods. Yellen’s comments came as the administration ponders how to balance punishing China for unfair trade practices with combating financial woes incurred...

Israel Signs Trade Deal with UAE, Its First Ever Free Trade Agreement in the Middle East

June 06, 2022.

Israel and the United Arab Emirates signed a historic free trade agreement on Tuesday, May 31, marking the first deal signed between Israel and a Middle Eastern nation. The deal was signed amid rising tensions in the region, with skirmishes occurring between Israeli and Palestinian groups mere days before the announcement. ...

3 Important Traits for a State and Local Tax Analyst Candidate

June 03, 2022.
Tax Publications

The majority of tax and accounting hiring managers would agree – finding and retaining staff to work in state and local tax is a substantial challenge for their operation. However, many would be surprised to know the degree to which they are not alone. In a recent survey conducted by...

Impact of Sri Lankan economic crisis on Logistics and India

June 02, 2022.
Logistics Publications

Sri Lanka's economic crisis has had a cascading effect on its maritime activity, especially that of the Colombo port, a key transshipment hub of the Southeast Asia region. Trade operations had slowed in Sri Lanka since February, owing to a massive forex crunch followed by fuel scarcity. In the...

6 Things You Need to Know to Start Filing Property Tax Returns

May 31, 2022.
Tax Publications

Knowledge is Key Are you ready to file your business tangible property tax returns? If not, where can you find answers to your initial questions? Do you know where and when your returns are due? Do you know the “snapshot” date for the return data? Do you know...

World Trade Week

May 26, 2022.
Trade Publications

May 2022 is recognized as World Trade Month. World Trade Week, which occurs annually during the third full week of May, was first established in 1935 by President Roosevelt. In celebration of world trade here are 10 fun trade facts. The first major piece of legislation passed in the United States was the...

Customs Modernization and Informed Compliance Act: What is “Reasonable Care”?

May 25, 2022.
Logistics Publications, Trade Publications

The Customs Modernization and Informed Compliance Act or Mod Act establishes clear requirements that parties must exercise “reasonable care” when conducting business related to importing into the United States, but what is reasonable care? Every import transaction is different, from the nature of the imported goods to the...

In Case You Missed It (May 16-20)

May 24, 2022.
Tax Publications

The Future of Filing - Tax Teams and Technology Online corporate tax filing’s evolution has caused a shift in team dynamics and filing processes. Having the right team dynamic in place can make all the difference when adapting and innovating with new technology. In this article by Crowd...

White House Announces New Indo-Pacific Economic Framework

May 23, 2022.
Logistics Publications, Trade Publications

The Biden administration announced the launch of the Indo-Pacific Economic Framework (IPEF) on Monday, May 23, which is designed to promote financial and economic stability in Asia and Oceania. The pact follows the initiation of the Regional Comprehensive Economic Partnership (RCEP), a trade deal spearheaded by China in January of 2022, and...

Baby Formula Shortage Underscores Supply Chain Struggles; US Plans to Ease Import Restrictions

May 19, 2022.
Logistics Publications, Trade Publications

A sudden nationwide shortage of baby formula has served as a stark reminder that supply chain woes continue to be felt midway through 2022. Across the United States, 40% of formula is currently out of stock, while individual states are seeing even more acute supply gaps, which have increased by 2,000% since January....