Sales Tax Changes in 2016
November 17, 2015.
Tax Publications
Chicago will once again have the highest sales tax rate of any major US city starting January 1, 2016. The rate will spike from 9.25% to 10.25%. The rate hike is due to the increase in county sales tax. The Cook County Board narrowly approved the increase to restore financial health...
Read MoreNew York State Franchise Tax Rate Changes for 2014 and Beyond
September 16, 2015.
Tax Publications
Part of the sweeping corporate franchise tax changes New York Governor Andrew Cuomo signed recently impacted the tax rates. This article will illustrate the rate changes that were impacted. Type of New York Businesses New York Article 9-A designates three classes of corporations for tax rate purposes: • ...
Read MoreThe Buzz about IRC § 7874
September 11, 2015.
Tax Publications
IRC § 7874: Rules relating to expatriated entities and their foreign parents. The recent corporate inversion transactions of many large US corporations has resulted in much discussion and controversy relating to IRC § 7874. A corporate inversion, also referred to as a tax inversion, is a transaction in which an organization is...
Read MoreSales Tax Reform May Not Be Seen Until 2017
September 08, 2015.
Tax Publications
Two sales tax reform bills have been introduced to Congress this year: the Marketplace Fairness Act and the Remote Transaction Parity Act. The Marketplace Fairness Act (MFA) passed the Senate in 2013 but did not make it through the House Congressional session that ended in 2014. It was reintroduced...
Read MoreFour States Offer Tax Amnesty
June 09, 2015.
Tax Publications
State Tax Amnesty From time to time, various states may offer a period of tax amnesty during which taxpayers may come forward and register with a state for sales tax and remit without penalty and/or interest. The amnesty programs generally run for a limited period of time and...
Read MoreNevada Senate Approves Historic Tax Hike to Fund Education
June 07, 2015.
Tax Publications
Nevada Governor, Brian Sandoval, urged lawmakers in his 2015 State of the State address to focus on education. “Improving our public education system must therefore begin with modernization, and modernization requires investment.” The investment Sandoval spoke of totaled to a $1.1 billion package to improve K-12 education, the...
Read MoreTennessee Tax Law Modifications
June 07, 2015.
Tax Publications
Sales & Use Tax Impact Effective July 1, 2015, the Revenue Modernization Act (the Act) (H.B. 0644) includes several modifications to Tennessee law. The modifications affect sales tax nexus determination and the application of sales tax to remotely accessed software. Technology based companies and online gaming organizations may want...
Read MoreRemaining Compliant During Organizational Changes
June 07, 2015.
Tax Publications
Steps Companies Can Take to Ensure Compliance If your company is undergoing an organizational change, there are certain steps that must be taken to ensure that the business remains in compliance with federal, state, and local tax laws and regulations. Organizational changes can include a new name, new locations, nature...
Read MoreTop 5 Trends in Tax
May 18, 2015.
Tax Publications
We have asked senior managers at Allyn International to investigate the top trends in Tax and compile the top 5 topics that are #trendingnow. Click on the link below to read the full document. Top 5 Trends in Tax Are you interested in knowing more about these trends? Just tweet...
Read MoreFlorida Revokes Registration
March 27, 2015.
Tax Publications
Certificate of Registration Companies who do business in Florida and have nexus are required to register for sales and use tax with the state of Florida Department of Revenue (FL DOR). If a business will have taxable transactions, it must register with the Department of Revenue before conducting...
Read MoreArizona Sales Tax Deductions
March 26, 2015.
Tax Publications
Deduction Code Changes As of January 1, 2015, Arizona broadened the list of state, county, and city deduction codes listed on its TPT-1 in an effort for taxpayers to properly claim deductions on the return. The TPT-1 is the Transaction Privilege (Sales), Use, and Severance Tax Return. City codes have changed...
Read MoreUtilities: Manufacturing or Not?
March 17, 2015.
Tax Publications
For many manufacturing businesses located in the state of Pennsylvania, sales tax paid on electricity, gas, and water can add up quickly over the years. The Pennsylvania utility sales tax exemption can result in thousands of dollars in tax savings. To lower or reduce a company’s...
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