Unclaimed Property: Delaware Receives a “D-” Score
March 16, 2014.
Tax Publications
Delaware, “the first state”, may be called the “worst state” when it comes to grades for unclaimed property laws. The Council on State Taxation (COST) recently assigned a D- to the state. The full report is found here. Unclaimed property laws were originally implemented...
Read MoreCOST Publishes Best & Worst of State Tax Administration Scorecard
March 16, 2014.
Tax Publications
The Council on State Taxation (COST) recently published their fifth annual scorecard on the Best & Worst of State Tax Administration. Maine and Ohio take top honors as “A” rated states. California and Louisiana come in last with D minuses, and Pennsylvania showed the most improvement in 2013,...
Read MoreDecision to Strike Down Colorado’s “Amazon Law” Thrown Out by Tenth Circuit
March 06, 2014.
Tax Publications
Background Colorado established a sales tax law (Colo. Rev. Stat. §39-21-112(3.5)) requiring any retailer selling $100,000 or more of products to customers located in Colorado who does not collect and remit sales tax in Colorado to: 1) Notify the purchaser of their obligation to report and pay use tax, 2)...
Read MoreInternal Revenue Service Appoints New Deputy Commissioner
March 01, 2014.
Tax Publications
New Commissioner The Internal Revenue Service announced on August 26, 2013 the appointment of a new Deputy Commissioner for Services and Enforcement. John M. Dalrymple has been with the IRS for 31 years and started his new role on September 16, 2013. He has previously served as IRS Deputy Commissioner for Operations Support...
Read MoreCalifornia Manufacturing Exemption
March 01, 2014.
Tax Publications
In an effort to drum up business development in the Golden State, California sales and use tax will be exempted from the gross receipts of businesses that sell, use, or consume tangible personal property (TPP) via manufacturing, processing, refining, fabricating, research and development, certain contracting usage, and sale or purchase...
Read MoreConsumer Use Tax – A Primary Target of Auditors?
February 16, 2014.
Tax Publications
Even though your business may have a good handle on charging its customers the correct amount of sales tax on all taxable transactions, your business purchases may not face the same amount of scrutiny. This gap may lead to problems. In fact, California found that for the 2011-2012...
Read MoreNew York Readopts Emergency Rule to Enact Excelsior Jobs Program
December 26, 2013.
Tax Publications
The Department of Economic Development has readopted emergency rule 5 NYCRR Parts 190 through 196, effective November 13, 2013, to implement the Excelsior Jobs Program. This program adds definitions, procedures to claim the credit, and incorporates other changes and amendments to strengthen the program. Excelsior Jobs Program In a Nutshell The Excelsior Jobs Program...
Read MoreAre CFO’s Overlooking Free Money?
December 13, 2013.
Tax Publications
Knowledge of Tax Credits & Incentives Lacking among CFO’s A recent survey conducted by Ernst & Young found that there is a large gap between what a business’ tax executives know about incentives and what its CFO knows. CFO Magazine indicates that 36 percent of the respondents...
Read MoreSales Tax Voluntary Disclosure Agreements
December 10, 2013.
Tax Publications
Oops! You’ve just started at a business and determined that they have had nexus in a jurisdiction for years but never registered or collected sales tax there. What do you do? Fortunately, most states allow for a voluntary disclosure agreement (VDA) to entice companies to...
Read MoreCalifornia BOE to Visit Retailers
March 29, 2013.
Tax Publications
If you are a retailer in California, you may be getting a visit from the California Board of Equalization SCOP (Statewide Compliance and Outreach Program) teams. In a recent news release, the BOE stated that some 9,688 business owners in select zip codes will be affected. The purpose of the...
Read MoreVirginia – When is Idle Equipment Idle?
June 13, 2012.
Tax Publications
If you are a business in Virginia with idle (not in use) machinery and equipment, you may be eligible for a business tangible property tax exemption on such equipment. Knowing the process for declaring idle equipment will save you time and money but only if you plan ahead. Virginia...
Read MorePennsylvania Remote Sellers – Got Nexus?
March 13, 2012.
Tax Publications
The Pennsylvania (PA) Department of Revenue (DOR) is reminding retailers who have nexus (i.e. presence, connection) with the Commonwealth to collect PA sales tax, including sales made via the internet, catalog, and telephone. PA has long imposed a sales tax on each sale of tangible personal property (TPP)...
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