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In Case You Missed It: Last Week in Allyn Tax News (March 21-25)

March 28, 2022.
Tax Publications

  New York – Sales & Use Tax Applicability on Leases of Paintings The Tax Appeals Tribunal has determined that "temporary possession is the essence of a lease transaction and a purchase for the purpose of leasing is a purchase for resale under Tax Law." In the case that was...

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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...

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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...

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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...

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

September 07, 2021.
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. ...

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5 Things to Consider When Accruing Use Tax for Manufacturing Locations in Pennsylvania

August 31, 2021.
Tax Publications

The state of Pennsylvania exempts sales tax on the purchase of materials, equipment or services that are used directly in the manufacturing process according to state law.  This manufacturing exemption sounds simple on the surface; however, it can be tricky and time consuming to determine the taxability of certain...

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In Case You Missed It: Last Week in Allyn Tax News (August 23-27)

August 31, 2021.
Tax Publications

Items given as gifts by a Charitable Organization in Colorado: Taxable or Exempt? The Colorado Department of Revenue (CDOR) has issued a general information letter discussing sales and use tax on items given as gifts by a charitable organization. CDOR provides the general rule that charitable organizations engaging in the...

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California Expands Penalty Relief for Late Property Payments

August 24, 2021.
Tax Publications

The onset of the Covid-19 pandemic in early 2020 created widespread uncertainty worldwide, most notably among businesses in the United States. This uncertainty led to confusion and frustration surrounding tax deadlines, which forced states to extend deadlines and excuse penalties accrued. California currently imposes a 10% penalty on delinquent payments for property...

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In Case You Missed It: Last Week in Allyn Tax News (August 16-20)

August 23, 2021.
Tax Publications

Michigan Provides Guidance for Small Business Tax Audits A tax audit is an in-depth examination of a business’s tax returns for a particular tax type, such as sales tax, typically covering a period of years. An audit is performed in order to verify that the taxpayer in question...

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In Case You Missed It: Last Week in Allyn Tax News (August 9-13)

August 16, 2021.
Tax Publications

New York Refund Denial Upheld An administrative law judge (ALJ) has issued a decision to uphold the Division of Taxation’s denial of a taxpayer’s refund claims associated with motor fuel tax, petroleum business tax, and prepaid sales tax on 13,838,236 gallons of motor fuel. The ALJ concluded...

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Does the IRS expect me to issue my Vendor a 1099?

August 11, 2021.
Tax Publications

An Obligation for Every Business Businesses are required to file and send vendors copies of select information returns to the IRS on payments made for certain purchases to certain entities in the course of their trade or business. Often, businesses are under the impression that they only need...

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In Case You Missed It: Last Week in Allyn Tax News

August 11, 2021.
Tax Publications

Maryland Ruling: Interstate Commerce Exemption for Aircrafts Maryland’s Court of Special Appeals recently ruled that a taxpayer’s purchase of an aircraft was not exempt from sales and use tax as interstate commerce. The aircraft was purchased by the taxpayer in Ohio and then stored in the...

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