Four states have adopted or are considering budgets without significant tax increases even considering pandemic shortfalls.
Four states have adopted or are considering budgets without significant tax increases even considering pandemic shortfalls.
New Hampshire files challenge over Massachusetts regulation taxing telecommuting nonresidents with U.S. Supreme Court.
Looming budget shortfalls coupled with tax-related ballot measures in many states could significantly affect 2021.
A business did not owe tax on service contract fees, finding the receipts were sourced out-of-state rather than to in-state customers.
General Motors will refund Ohio $28 million in tax benefits after closing an assembly factory before the end of an incentives agreement.
Extension of corporate surtax and expanded millionaire’s tax assists New Jersey with significant budget deficit caused by the coronavirus.
Join us for our Financial Institutions Forum as we explore challenges, opportunities and trends facing the banking industry.
IRS extended filing and paying deadlines and TTB updated disaster relief guidance for taxpayers affected by CA wildfires and IA derecho.
The Tennessee Department of Revenue issued guidance on the state’s conformity to section 163(j) of the Internal Revenue Code.
Taxpayers have until Sept. 15, 2020 to participate in the program that may reduce transfer pricing disputes and provide penalty waiver.
Eligible businesses that did not receive certain other COVID-19 relief may qualify for grants up to $250,000.
The department found the business did not engage in qualifying research or submit proper documentation to substantiate the claim.
A judge found that taxpayers did not abandon their residency and were therefore still subject to Arkansas personal income tax.
Seattle payroll expense tax to be imposed on employee compensation of at least $150,000 for businesses with $7 million or more in payroll.
The state will decouple from CARES Act net operating loss, interest expense and excess business losses provisions.
Taxpayers that properly secured a first extension may file a request for a second extension on or before Aug. 17, 2020.
The 2020-21 Trends in Private Clubs report highlights many issues that were inconceivable for clubs prior to the COVID-19 outbreak.
California Office of Tax Appeals determined that a construction company could not use a resale certificate for material purchases.
Expanded eligibility ending Nov. 30, 2020 presents an opportunity for businesses to come into compliance with certain state taxes.
The revised sales tax nexus standards reduce the current $500,000 threshold to $100,000 beginning Oct. 1, 2020.
Revised conformity excludes certain net operating loss and excess business loss provisions effective for 2019 tax years.
The state will decouple from the taxpayer-friendly interest expense and net operating loss provisions of the federal CARES Act.
Expansive tax bill provides taxpayer-friendly changes while balancing reduced tax revenue in the COVID-19 economy.
Fiscal year 2021 budget includes temporary tax changes in order to generate much needed revenue in the COVID-19 economy.
New York enacts legislation further decoupling New York City corporate and UBT taxes from certain CARES Act provisions.
Refundable credit receives taxpayer-friendly updates, including increased availability and extended application deadline and sunset dates.
Delaware notices advise businesses to either participate in the state’s unclaimed property VDA Program or be subject to an audit.
The Office of Tax Appeals determined that the taxpayer did not show that it undertook a process of experimentation.
Taxpayer permitted alternative apportionment when calculating Michigan sourced income from the sale of an out-of-state business.
President held personally liable for unpaid income tax withholding even after another corporate officer found responsible.
Effective July 1, Maryland has exempted from sales and use tax the sale of certain personal property to qualified data centers.
Services performed in Detroit for clients located outside the city should be sourced to Detroit for purposes of the city’s income tax.
The elective tax is intended as a state and local tax deduction limitation workaround, joining six other states with similar provisions.
Ten-year net deferred tax liability deduction may be claimed beginning in 2023 as long as Form DT-1 is timely filed by July 1, 2020.
When determining whether an S corp distribution is a dividend, Arkansas taxpayers must use state-specific AAA rather than federal AAA.
Proposed budget would freeze planned rate reductions and calls for a non-resident wage tax increase to offset the impact of COVID-19.
Taxpayer-friendly measures provide interest waivers, extension of limitations periods and assistance to impacted businesses.
The Arizona Court of Appeals upheld a lower court finding that a CEO was responsible for unremitted transaction privilege tax.
The COVID-19 pandemic may relieve recipients of tax incentives from the recapture provisions under the Nebraska Advantage Act.
Emergency regulations and technical guidance provide clarifications for telecommuter withholding and nexus safe harbors.
The decision may impact sourcing positions taken by the financial service industry for New York State and New York City tax purposes.
Maintaining static conformity to the IRC, Wisconsin adopts several taxpayer-friendly provisions of the federal CARES Act.
Remote programming employee directly impacted an Arkansas employer's ability to carry out its mission and purpose.
California-based employers have limited window to submit requests for cash grants from COVID-19 related employee training program.
The bills address the state's IRC conformity as it relates to new federal section 163(j) limitation rules, among other provisions.
Three recent cost of goods sold cases represent the highly nuanced nature of the Texas franchise tax calculation.
Delaware notices advise companies to either participate in the state’s unclaimed property VDA Program or be subject to an audit.
Widespread availability of credits and economic incentives during the COVID-19 pandemic may help businesses increase cash flow.
The California Consumer Privacy Act is changing the way businesses collect, process and retain information on customers.
Financial services businesses providing software and services to Illinois customers may have multiple transaction tax obligations.
RSM and Cresa invite you to our 2020 March Madness celebration. Please join us for food and drinks while cheering on your favorite team.
RSM is a proud sponsor of the Institute of Internal Auditor 2020 General Audit Management Conference on March 16–18, 2020 in Las Vegas.
Emerging technology and life sciences companies can apply for a refundable tax credit for their qualifying investments.
Attend our happy hour with fellow private equity, venture capital and other financial service professionals.
Publicly traded companies located in Illinois may be subject to new demographic reporting requirements by Jan. 1, 2021.
Last year’s service-based and advanced computing business surcharges receive significant makeover after public concern.
The ACA’s shared responsibility penalty on individuals without health insurance no longer applies after 2018, but state penalties may apply.
Online software products allowing remote access to a host computer as well as screen sharing capabilities were taxable.
Silicon Valley Bank’s State of the Market Report, and an executive panel on the impact of these trends on tech businesses and investments.
Favorable classification available for retailers selling private label products and consumer products companies using contract manufacturing
Three states have prescriptions for opioid taxes on manufacturers and distributors. Here’s what you need to know.
New Jersey becomes the sixth state to adopt an entity-level tax establishing a workaround to the federal SALT deduction limitation.
The Texas Comptroller adopted a $500,000 economic nexus threshold for the state's franchise tax effective in 2020.
Certain perishable meat manufactures, processors, and sellers may be eligible for a reduced business and occupation tax rate.
The Michigan Department of Treasury issued a letter ruling detailing the sales tax treatment of various information services.
Register now for one of RSM’s 16th Annual Carolinas Clients, Alumni and Friends CPE events. Agenda includes timely updates and discussion.
Ohio backtracks on eliminating business income deduction for certain taxpayers after concerns over enforcement and application surface.
North Carolina joins more than 30 states adopting a marketplace facilitator nexus provision effective Feb. 1, 2020.
Join RSM and NACD for a discussion about the current state of the ever-changing trade wars and how they may affect your business.
Minnesota tax-exempt organizations may find some relief knowing that the state does not conform with two major federal changes.
You are invited to an exclusive meet-and-greet with Team RSM golf pro Davis Love III on Oct. 7, 2019 at Hanh Gallery.
Pennsylvania Department of Revenue issues guidance that administratively implements economic nexus for corporate net income tax.
Join RSM and other knowledgeable club leaders in a “how to” discussion on maximizing the leadership potential of your club.
RSM’s chief economist will update on macroeconomic market trends, trends in the Bay Area and expected changes in the environment.
RSM is a proud sponsor of the 2019 CEO Connection Mid-Market Convention (Sept. 22-24 at the Wharton School at the University of Pennsylvania
Arizona Supreme Court finds online travel companies must collect tax on service fees and mark-ups paid to book hotel rooms.
Join us for the 2019 Illinois Government Finance Officers Association (IGFOA) annual conference, Sept. 8-10, 2019.
From alternative fuels to telematics, suppliers need to rethink their business models in order to be successful in the future.
Beginning in 2020, some individual taxpayers working remotely in Illinois will have a 30-day safe harbor from the state income tax.
New Jersey Division of Taxation rescinds unpopular GILTI and FDII allocation guidance issued in December; new guidance expected shortly.
Celebrate the launch of Accordo’s on-demand model and get a preview of this market-leading service in our Times Square office.
Senate Bill 1591 provides an income tax credit for qualified apprentice education expenses through Dec. 31, 2024.
Amnesty programs will run through Nov. 15, 2019, and offer qualifying taxpayers complete waiver of interest and penalties.
Join RSM for the Financial Institutions Forum, a full-day CPE conference focused on financial institutions issues on Thursday, Aug. 8, 2019
The state has indicated that it will enforce economic sales tax nexus on Oct. 1, 2019, without a minimum sales or transaction threshold.
Senate Bill 523 provides a definition for certain digital goods and clarifies tax treatment for items without a tangible equivalent.
Washington Court of Appeals determined the graduated income tax to be impermissible under a uniformity requirement.
Ohio budget bill makes a number of changes to Ohio’s tax code expecting to result in millions in tax cuts; sales tax nexus addressed.
The California fiscal year 2020 budget addresses TCJA conformity and other new and amended state tax provisions.
We are excited to invite you for our upcoming Tech Connection: Summer social edition on June 13 in our New York office.
California amends the effective date for district remote seller nexus requirements; offers penalty relief for certain marketplace sellers.
Budget bills address pass-through entity tax, sales tax base and nexus changes, tax credits and reporting obligations.
The new pass-through entity level tax may benefit some individuals subject to the $10,000 SALT deduction limitation.
Marketplace facilitators liable for sales tax collection; budget compromises avoid certain proposed tax increases on businesses.
The 2019 legislature passed several tax changes, issued marketplace facilitator rules and provided additional credits and incentives.
RSM is a proud sponsor of the Institute of Internal Auditor 2019 International Conference at the Anaheim Convention Center in Anaheim, CA.
Learn more about the recent South Dakota v. Wayfair, Inc. U.S. Supreme Court decision and how it could affect private clubs.
We are excited to invite you to our upcoming RSM consumer products industry event at our location in Times Square.
Modernization addresses Alabama’s Opportunity Fund, Jobs Act Credit, federal opportunity zones and other incentive provisions.
Pass-through entity tax election for the 2019 tax year due June 28, 2019; election window will close until next calendar year.
Minnesota’s long-awaited conformity bill presents new challenges for individual and corporate taxpayers; remote seller provisions modified.
Alabama makes significant reforms to the Financial Institution Excise Tax by establishing estimated payments and redefining net income.
Join your peers for a content-rich panel and networking cocktail reception on an outdoor terrace overlooking Times Square!
District of Columbia OTR will no longer require an affirmation letter from an organization renewing its tax-exempt status.
New threshold replaces previous guidance adopting lower sales and transaction thresholds; legislation adopts marketplace provider nexus.
The Historic Rehabilitation Credit, Quality Jobs Tax Credit, and Manufacturing Investment Tax Credit are all impacted by new legislation.
Program offers credit against the corporation business tax and the gross income tax for certain digital media content expenses.
We invite you to learn how to equip yourself with the knowledge and tools to deliver better outcomes for your organizations.
Join RSM for a unique event that brings Minnesota business leaders together for a full day of engaging discussion focused on growth.
Join RSM and Strickler Insurance on May 15 to discuss key issues for breweries. This event will be held at La Cabra Brewing.
The RSM Technology Summit is a one-day event that offers educational sessions specifically for Microsoft Dynamics GP users.
Colorado adopts RUUPA with minor variations; shortens dormancy for many property types, and eliminates the standard deduction.
Justices express concern over North Carolina’s tax on the undistributed trust income earned for the benefit of a resident.
The middle market is a growing target for cybercrime. Address privacy and security now so a normal day doesn’t become an emergency.
Unclaimed property trends and modernization are highlighted at the 2019 Unclaimed Property Professionals Organization conference.
Budget bill address GILTI, qualified manufacturers, sales tax nexus, personal income tax rate extensions and property tax rate caps.
Tax bill reduces corporate tax rate and adopts single-sales factor apportionment and NOL changes; enacts remote sales tax provisions.
The New Jersey Division of Taxation's website for the mandatory registration of a combined group by its managerial member is now available.
Tax bill reduces nexus thresholds and amends provisions of the business and occupation tax; addresses remote sales tax collection.
Join RSM and Cisco for a complimentary brunch on April 4 in Chicago, IL to discuss the future of collaboration.
Department clarifies that the high-technology data center equipment exemption is available to customers of data centers.
A white paper describing the impact of the new revenue recognition standard on federal government contractors.
Legislation enacts Wayfair-styled economic sales tax nexus thresholds and marketplace facilitator provisions, effective July 1, 2019.
Legislation would have addressed various tax reform provisions, conformity, and remote seller sales tax nexus.
Join RSM’s financial institutions technology consultants, and learn best practices to address technology risks and challenges.
The IRS announced tax relief, including extended deadlines, for counties in NE and IA affected by the recent winter storm and flooding.
RSM is a proud sponsor of the GRC 2019 Conference on March 19–21, 2019, at the Bellagio in Las Vegas. Join us for this informative event.
The IRS announced tax relief, including extended deadlines, to Lee County, Alabama, which was impacted by recent storms.
New and increased San Francisco gross receipts taxes take effect in 2019; economic nexus standard of $500,000 adopted.
The challenges and opportunities in technology, cybersecurity, regulations, commodities and alternative energy to watch in the coming year.
The bill decouples from the SALT deduction cap, increases the standard deduction and addresses GILTI and 163(j) income.
New life sciences businesses can earn up to a maximum tax benefit of $1.5 million in tax credits over three years.
Recent Iowa tax reform expanded the sales tax base to include certain digital products and services; enacted remote seller nexus law.
Government Contracting is a growing market with increasing development activities that provide opportunities to claim the R&D tax credit.
Efficiently and effectively manage your global value added tax compliance with a strong risk management process.
Join us on Jan. 29 to understand the future impact of this emerging technology and start planning for disruption.
Sales and use tax registration and collection are required when a remote seller exceeds $300,000 of sales in over 100 transactions.
A recently released Spanish version of Money Smart for Older Adults allows for expanded education around elder financial exploitation.
Resource sharing provides financial institutions an innovative way to maintain effective AML/BSA programs without increasing costs.
New Jersey Division of Taxation provides updates to its section 965 reporting procedures in an effort to streamline compliance obligations.
The ability of automakers and suppliers to include tooling expenses in their R&D credit can create a tremendous benefit.
Texas amends nexus rules providing for a $500,000 sales threshold for remote sales tax collection, effective Oct., 2019.
Economic sales tax nexus enforcement to begin on April 1, 2019 with adoption of $100,000 sales or 200 transaction thresholds.
Rate reduction triggered after revenue metrics achieved; draft TCJA guidance published addressing the personal income tax.
Workaround aims to address the federal $10,000 SALT deduction cap; enacts economic nexus for out-of-state retailers.
Amended rules address apportionment and allocation of income from partnership interests owned by corporate partners.
City of Philadelphia proposes economic nexus amendments to the city’s Business Income and Receipts Tax (BIRT) Ordinance.
RSM US LLP is partnering with The Greater Philadelphia Chamber of Commerce to present the RSM US Middle Market Business Index webcast.
Cybersecurity continues to be a top concern as managers deal with the cloud, cyber insurance policy, SEC scrutiny and third-party risks.
Tax Amnesty program begins Nov. 15, 2018 and runs for 60 days; offers waiver of penalties and reduced interest.
California conforms to the federal audit reporting rules for partnerships, and the Franchise Tax Board provides tax payment confirmations.
The IRS announced tax relief, including extended deadlines, to certain California counties impacted by the wildfires.
San Francisco voters approved Proposition C, the Homelessness Gross Receipts Tax Ordinance, effective Jan. 1, 2019.
The supplemental budget bill addresses the inclusion of global intangible low-taxed income for personal and corporate income tax purposes.
Get helpful insights on preparing your government contracting business for sale. Addressing risks upfront is key. Learn more.
South Dakota and the three online retailer taxpayers party to the Wayfair litigation reach an agreement to begin sales tax collection.
Franchise Tax Board further modifies existing guidance for business entity members of LLCs following the Swart decision.
Disruptive change is here to stay, and financial planning and analysis in the automotive industry needs to transform along with it.
The Tax Section of the State Bar of Texas addresses fiduciary income tax concerns in a comment letter on the proposed 199A regulations.
Alabama recently enacted the data breach notification law. Understand what you need to know, and how RSM can help you prepare.
RSM’s chief economist, Joe Brusuelas, will discuss macroeconomic market trends and expected changes in the financial environment.
Payroll tax aimed at offsetting state and local tax deduction cap for individuals begins to take shape; election required for 2019.
New Jersey enacts remote seller sales tax nexus provisions previously announced in guidance, effective Nov. 1, 2018.
The Georgia Department of Revenue has issued guidance on the state’s new economic sales tax nexus provisions effective Jan. 1, 2019.
Michigan Department of Treasury issues guidance regarding a purchaser’s successor liability for the unpaid taxes of an acquired business.
The real estate regional impact reports feature insights from top-level investment experts focused on the different real estate markets.
Joe Brusuelas will provide a keynote speech on macroeconomic market trends, trends in the Bay Area and expected changes in the environment.
RSM is proud to sponsor CBI’s Annual Finance & Accounting for Bioscience Companies, Sept. 25 - 26, 2018 in Boston.
RSM is a proud sponsor of the 2018 CEO Connection Mid-Market Convention (Sept. 23 – 25 at the Wharton School in Philadelphia).
Newly published guidance regarding CDD and beneficial ownership requirements for credit unions taking effect September 2018.
The IRS announced tax relief, including extended deadlines, to certain North Carolina counties impacted by Hurricane Florence.
Top-level real estate investment experts focus on the New York market and provide in-depth data highlighting current trends.
Top-level real estate investment experts focus on the Philadelphia market and provide in-depth data highlighting current trends.
The IRS has released preliminary information regarding relief for taxpayers and tax preparers in areas affected by Hurricane Florence.
While blockchain is currently one of the most-hyped technologies, there are important issues to consider before implementation.
Litigation preventing enforcement of Indiana’s economic sales tax nexus law ends as litigants settle with the department.
Top-level real estate investment experts focus on the Boston market and provide in-depth data highlighting current trends.
New Jersey fiscal year 2019 budget increases conformity of the state research and development tax credit to the current federal provisions.
IRS’ attempt to re-characterize loan as a distribution from subsidiary’s earnings fails under debt-equity principles.
Washington state will require out-of-state businesses meeting a Wayfair-style sales or transaction threshold to collect sales tax.
The State of Pennsylvania has established a new R&D tax credit online application submission and processing portal.
The elimination of the sales and use tax physical presence could have a profound impact on the tax compliance obligations of auto suppliers.
Join RSM on Wednesday, July 11 as we discuss a broader array of concerns affecting financial services organizations.
New standards for nonprofit financial statements and revenue recognition will need to be implemented over the next two to three years.
Major provisions include the state response to federal tax reform, market-based sourcing, and a tax amnesty program.
Meet up with RSM at the Tax Planning Strategies for Life Science Companies, brought to you by CBI on June 27 in Philadelphia.
Economic sales tax nexus laws permitted by the Court; physical presence sales tax nexus is no longer the Constitutional standard.
Provides additional considerations when determining a person’s residency, reinstates the direct appeal from Ohio BTA to Ohio Supreme Court.
UEZ benefits extended for all expiring zones to Dec. 31, 2023; review of return on investment of UEZ program established.
The effort to impose a surtax on incomes over a million dollars would have generated an estimated two billion in yearly revenue.
After understanding the charitable visions of its donors, nonprofits must discuss strategies to help the organization accomplish its goals.
Two tax-related bills enacted on former governor’s last day in office addressing corporate income tax and telecommunications companies.
Due to recent legislation, pass-through entities are now required to make estimated tax payments throughout the course of the tax year.
Illinois’ FY19 budget legislation easily passes the general assembly with minor tax changes, including sales tax nexus expansion.
State tax reform package includes two workarounds to the state and local tax deduction limitation; decouples from TCJA provisions.
After several months of debate, the governor and state legislature agreed to a tax reform package largely addressing federal tax reform.
Qualified remote sellers with Indiana inventory may apply for a special sales and income tax voluntary disclosure.
Taxpayers who have already filed a 2017 tax return and included the section 965 amounts should amend their return.
Mayor expected to sign employee “head tax” on businesses with Seattle sourced taxable gross income exceeding $20 million.
Read to learn the key takeaways and insights from RSM's 2018-19 Florida Trends in Private Clubs events held April 25-27, 2018.
Taxpayer appeals the Pennsylvania Supreme Court's remedy after finding the net loss carryforward unconstitutional.
Washington Department of Revenue encourages remote sellers to come forward by offering penalty reduction and limited look back.
Maryland continues single-sales factor apportionment adoption trend; includes five-year phase-in beginning with the 2018 tax year.
The Relieve High Unemployment Tax Incentives Act provides property tax abatements, employment tax credits and tenant credits.
Tax amnesty to run through June 29, 2018, provide relief from interest and penalties for certain liabilities occurring before Jan. 1, 2018.
The Franchise Tax Board issued the fourth and final report on the state’s conformity to the Federal Tax Cuts and Jobs Act of 2017.
Eligible businesses may subtract certain property, payroll and sales from apportionment factors to reduce state taxable income.
A proposed Georgia bill could have big implications for the security industry and any industry that leverages security research and testing.
California proposes first unclaimed property voluntary disclosure program in over ten years; would offer waiver of interest and penalties.
Responding to federal tax reform, New York addresses the state and local tax deduction and the new federal international tax provisions.
Taxpayers often experience compliance challenges, but managing risks affords taxpayers an opportunity to get ahead of common CAT missteps.
By discovering what matters most to the individual, nonprofits can uncover a donor’s passion and connection to the organization.
Indiana enacts law exempting the right to remotely access prewritten computer software from Indiana’s seven percent sales and use tax.
Nebraska aims to better understand its return on investment with improved performance auditing of tax incentives
Following up on another recent tax bill, Idaho updates conformity for 2018 tax years, and reduces personal and corporate tax rates.
California Franchise Tax Board issues first of three reports discussing implications of recent federal tax reform.
Alabama’s tax amnesty program will apply to most taxes, provide penalty and interest waiver, and run for three months beginning in July.
Has your club verified it is either paying or collecting the correct amount of Florida state sales tax on the rental of real property?
Michigan responds to federal tax reform, maintains and increases the state personal exemption for the 2018 tax year.
The best part of giveaways is that they are free to the fans – no increased ticket price, and more importantly, no sales tax! But does that mean ...
Virginia and West Virginia legislation aims to address state conformity with federal tax reform, but take markedly different approaches.
Qualifying New Jersey technology and biotech companies may sell unused NOLs and R&D credits to certain corporate taxpayers.
FTB provides state guidance on federal tax reform addressing the medical expense deduction, the SALT deduction and repatriation.
With a new year upon us, learn how five technology strategies can increase your efficiency and insight, and strengthen business operations.
Tax incentives focused on job growth and investment, many of which have already expired, extended through budget legislation.
Bill clarifies organizations’ obligation to send annual privacy notices to consumers, providing some relief for vehicle finance companies.
Financial institutions and credit companies will continue to include arbitration clause in consumer contracts.
Understanding the new annual thresholds required by the CFPB and its effects on CARD ACT, HOEPA and Dodd-Frank.
Clarification pending as questions remain ahead of the new beneficial ownership rule affecting financial institutions.
Indirect Auto lenders need to be aware of the potential impact of new regulations for fair lending compliance.
Federal Reserve Board issues press release requesting public comment on policy changes as it relates to intraday credit
Uniform residential loan application redesign approved, confirming compliance with the Equal Credit Opportunity.
CFPB updated version of the TRID Guide to the Loan Estimate and Closing Disclosure to include multiple changes.
FinCEN makes informative changes to its “Answers to Frequently Asked Bank Secrecy Act (BSA) Questions” resource located on its website.
The consumer's trust in effectiveness of payment systems is key in the rise of widespread cryptocurrency usage.
Commercial Rent Tax benefits include increase in tax exemption threshold amount and credit for certain lower rents and incomes.
State erred by sourcing an online university’s revenue based on market sourcing rather than the location of its income-producing activities.
The Ohio Supreme Court provides guidance on determining whether temporary labor is assigned on a permanent basis.
The high-income earners tax, currently scheduled to go into effect on Jan. 1, 2018, has received multiple challenges since passing.
Florida Supreme Court found the CST constitutional, even though it imposes a higher tax rate on satellite companies than cable companies.
Learn how RSM's finance and accounting outsourcing (FAO) practice drives nonprofit's financial stability and clarity.
Earlier this spring, Florida Gov. Rick Scott signed House Bill 7109, providing for a reduction in the real property rental sales tax effective Jan....
The following article discusses if special assessments are taxable, and what waivers or exemptions may be available.
Employer leave-based donation programs let employees forgo personal leave in exchange for cash payments to charities for disaster relief.
Effective Nov. 1, 2017, the District of Columbia Office of Tax and Revenue has revised the Qualified High Tech Company (QHTC) sales and use tax ...
Recovery efforts have contractors and construction managers under pressure, as prices rise and qualified personnel are hard to find.
One of the standout changes enacted by Ohio's House Bill 49 was a new election to participate in the Ohio Department of Taxation’s central ...
Webcast series addresses key challenges and opportunities found in designing, implementing and maintaining company retirement plans.
Tax bill closes budget shortfalls by limiting net loss carryforwards and enacting remote seller and use tax reporting provisions.
Pennsylvania Supreme Court finds net loss carryforward limitation unconstitutional; severs fixed dollar amount cap.
Ohio decision is reminder to understand tax implications of supplemental executive retirement plan income at the local jurisdiction level.
The IRS has provided disaster relief, including retirement accounts, to the taxpayers affected by the wildfires in California.
Illinois' Invest in Kids Act provides favorable corporate and individual income tax credits for qualified contributions to scholarship granting ...
California taxpayers located in several counties are eligible for disaster-related benefits such as filing and payment extensions.
The IRS announced tax relief to certain northern California counties impacted by the recent outbreak of wildfires.
In 2015, Washington state made sweeping changes to its unclaimed property law and opened an amnesty program. Unclaimed property holders that did ...
If your club is in a disaster area, there are several benefits available to help your club and your club’s employees.
Learn what your club should consider after hurricane damage, from expenditures to insurance proceeds to assessments.
Join RSM and Downtown Grand Casino for a half-day seminar focusing on the trends and critical issues facing the commercial gaming industry.
Anticipated regulations address unclaimed property examinations; create deadlines for holders to convert examinations and enter into VDAs.
Retailer merchandise credits were similar to “gift certificates” and not subject to escheat under state’s unclaimed property law.
”Cookie nexus” regulation becomes effective following withdrawn policy directive; sales threshold measured from 12 months preceding Oct. 1.
Ohio Development Services Agency announces fiscal year 2018 workforce training program application period; $25,000 in maximum grants.
Wisconsin enacts legislation intended to promote growth in the state and close budget gaps with both tax reductions and increases.
The IRS expands tax relief for taxpayers and return preparers located in Georgia and affected by Hurricane Irma.
Illinois extends sunset of the Economic Development for a Growing Economy and Angel Investment tax credits for an additional five years.
In response to the devastation from Hurricane Harvey, the IRS, Texas and other states have provided guidance on extended filing deadlines. Texas ...
The South Dakota Supreme Court rejects a law directly challenging Quill v. North Dakota’s physical presence nexus standard.
The IRS announcement describes relief for taxpayers and return preparers located with in the declared disaster areas.
Employee benefit plans affected by Hurricane Irma may find regulatory relief provided by the IRS, Department of Labor and PBGC.
IRS extends relief to additional taxpayers affected by Hurricane Harvey by adding to the list of eligible Texas counties.
Department of Taxation provides details on amnesty-eligible taxes, periods and disqualifications; explains payment procedures.
The amount of vacation, sick or personal leave that employees forgo for their employers to make a charitable contribution is not taxable.
Potential refund opportunities for taxpayers calculating a non-income tax using apportionment factors related to treaty-exempt income.
The IRS, Department of Labor and PBGC combine to offer regulatory relief for employee plans affected by Hurricane Harvey.
Taxpayers in designated Texas counties have until Jan. 31, 2018 to file certain tax returns and make certain tax payments.
With dealer inventories remaining high and new car production continuing to rise, is there cause for concern for the auto industry.
The state has published a central portal for information related to the new remote seller provisions enacted by the recent budget bill.
Taxpayers in declared disaster areas are eligible for postponement of state tax payments under certain conditions.
Join us for a panel discussion on important insights and updates affecting your organization’s employee stock ownership plan.
Voluntary disclosure program targets remote sellers with click-through or referral arrangements with New Jersey parties.
Amnesty period begins this winter, benefits include complete waiver of penalties, and partial waiver of interest.
Although not appropriate for every construction company, an ESOP carries several inherent advantages and is growing in popularity.
Recently, the Ohio Board of Tax Appeals issued a decision addressing the situsing of sales under the state’s Commercial Activity Tax (CAT). In ...
MA high court unconvinced sales tax drop shipment rule discriminates against interstate commerce for nexus-established wholesaler.
Comptroller policy letter ruling addresses credit loss under late-filed reports and claiming a credit when a member leaves a combined group.
Employers are in a tough position, yet a long-term view of compliance with immigration policies should outweigh any short-term solutions.
Missouri delays implementation of IBM decision to allow time to address the extent of the sales and use tax manufacturing exemption.
Budget bill provides rate reductions for both the corporate income tax and personal income tax, increases the personal deduction
Analyzing recent FTB guidance on determining whether a taxpayer can take a credit or deduction for taxes “paid” to another state.
Washington state budget bill includes use tax notification and reporting requirements and economic nexus provisions for retailing B&O tax.
The budget increases personal and corporate tax rates, makes tax exemption and credit changes and revises the unclaimed property law.
Provides for tax amnesty program, eliminates low income tax brackets, and makes changes to a number of state taxes.
Changes to recent unclaimed property legislation provide for various technical clarifications, additional time for adoption of regulations.
Missouri bill exempts "usual and customary" separately stated delivery charges, providing consistent tax treatment to shipping charges.
Managing the maze of changes and increased expectations around federal grants management compliance requirements for nonprofits.
With a strong economy at their disposal, baby boomers who own construction companies are increasingly looking for ways to either sell their
Policy directive would have established sales tax nexus for remote vendors making over $500,000 of sales in 100 or more transactions.
General Assembly establishes two new agencies to replace Board of Equalization’s tax appeals and tax administration functions.
Join RSM on June 19 for this webcast that addresses ongoing changes to Medicaid and how they may affect your organization.
Minnesota passes tax bill enacting numerous changes to the individual income tax, corporate business tax, and sales and use tax.
S-corporations doing business in California and that have NRBIGs are required to apportion those gains to California. However, taxpayers and tax ...
The State of Washington has provided statutory and regulatory guidance on the application of the B&O tax to import activity.
The first round of funding for the California Competes Tax Credit for FY 2017-18 opens July 24, 2017, and will close on Aug. 18, 2017.
Revenue raisers will impact individuals and pass-through entities; many are retroactive to the beginning of 2017.
While 2019 may seem far off, planning should begin now in order to ensure an effective and efficient implementation of the new standard.
Amnesty period begins in September 2017; benefits include complete waiver of penalties, interest and other collection fees.
Michigan Supreme Court had declined to hear appeals over decision finding the state’s retroactive repeal of the MTC constitutional.
Arizona enacts three bills providing favorable modifications to several existing state credits and incentives programs.
Bill establishes sales tax nexus for remote vendors making over $100,000 of sales or 200 or more separate transactions into the state.
Utilizing data as a tool to drive greater efficiency and better decision-making in your nonprofit organization.
Construction contractors must be well-versed on the state’s classifications options to avoid over or under payment of sales and use tax.
Commissioner prohibited from applying alternative apportionment after failing to show statutory formula did not reflect Minnesota income.
Newly announced proposal draws heavily on President Trump’s campaign proposals; many critical details are not addressed.
Department of Revenue Services provides guidance on recent legislative apportionment changes to the state business tax and income tax.
2017 tax amnesty program will run for a 60-day period and offers waiver of penalties and half the interest due for eligible liabilities.
For California purposes, section 382 applies on a pre-apportionment basis, RBIGs, NUBIGs, RBILs and NUBILs on a post-apportionment basis.
Incentives package focuses on various income, property, and sales and use tax incentives for manufacturers adding jobs in the state.
Parties enter into settlement agreement shortly before a petition to the U.S. Supreme Court was due, ending the litigation.
Bureau issues Small Entity Compliance Guide, aide to preparing the short form disclosure and delays effective date.
OCC adds governance over sales practices as key risk in Semiannual Risk Perspective and outlines supervisory priorities for next 12 months.
The OCC issued examination procedures to promote consistency in the examination of banks’ risk management of third-party relationships.
Philadelphia Federal Reserve Bank publishes special edition of Consumer Compliance Outlook focusing on fintech.
How are retailers reacting to the pricing demands of cost-conscious consumers? Our industry insider shares his insights.
Legislative assembly prepares economic sales and use tax nexus law contingent on the U.S. Supreme Court overturning Quill.
Budget proposals include reducing the business income tax rate, increasing personal exemption rates and broadening the sales tax base.
Failure to follow requirements can result in the loss of the organization's exempt status with related expenditures of time and money.
Nonprofits must evaluate their security posture to avoid data and system loss, business interruption and reputational harm.
Mechanics of a unique depreciation method in North Carolina allows for bonus depreciation planning opportunities.
Parent lacks Iowa nexus despite performing management activities for subsidiaries active in Iowa, ineligible to join consolidated filing.
Phone systems are not just for taking phone calls. A unified system can provide a platform for communications, data and service.
Pennsylvania Department of Revenue removes letter ruling on the taxability of previously nontaxable software support services.
Many states and localities offer taxpayers rate reductions and other benefits for prepayment of taxes. So, should you prepay? The answer to that ...
There are a number of steps construction companies can take to help avoid unintended losses resulting from error or outright fraud.
Department provides guidance to taxpayers affected by LaBelle Management decision, gives retroactive effect for all open tax years.
Remote sellers owning inventory held by Virginia fulfillment service providers now deemed to have sufficient activity for sales tax nexus.
Tax Tribunal affirms on rehearing that the rule calculating the taxes paid to other states credit was contrary to the authorizing statute.
Digital Marketing Associations (DMA) Colorado sales and use tax notice and information reporting saga ends in settlement.
FTB declines appeal of decision finding that 0.2 percent interest in a manager-managed LLC did not constitute ‘doing business’ in the state.
Partnership Form M3 requires allocation of guaranteed payments to Minnesota using the same apportionment used to allocate partnership income.
Tax reform legislation aimed to address cascading revenue shortfalls fails to survive governor’s veto, despite efforts to override.
Taxpayers and preparers may be required to provide state driver’s license information as an increasing number of states include the mandate in ...
Eligible taxpayers receive generous benefits including complete waiver of penalties and 50 percent waiver of interest.
Massachusetts Supreme Judicial Court previously affirmed its decision that held FIET sourcing rule did not violate internal consistency.
Rising revenues do not always mean increased profits. Margin analytics can help manufacturers prioritize opportunities and identify risks.
Recently, Pennsylvania Gov. Wolf announced his proposed budget for the Commonwealth’s fiscal year. The estimated deficit for the Commonwealth is ...
Universal Paid Leave Amendment Act of 2016 provides for one of the most expansive paid employee and family leave protections in the country.
RSM industry leaders share insights on how the evolving retail landscape is affecting the real estate industry.
Delaware enacts major unclaimed property reform, incorporating provisions from the RUUPA and addressing current challenges.
Taxpayer favorable changes to the Virginia R&D Tax Credit were recently passed that provide additional benefit to Virginia taxpayers.
Recently, the New York State Comptroller quietly revised the 2017 unclaimed property voluntary compliance agreement reducing the reportable period ...
California biotech firm sees larger corporate tax bill after Massachusetts high court determination that it was engaged in manufacturing.
The District of Columbia has joined the growing movement towards putting an end to the “tampon tax” – a sales tax on tampons and other feminine ...
Decision clears the path for 1.5 cents-per-ounce tax on the distribution of sweetened beverages effective Jan. 1, 2017.
Modifies various realty transfer tax provisions in order to close perceived loopholes regarding real estate holding company transactions.
Kimberly-Clark becomes the second MTC repeal challenge denied review by high court following Gillette in October.
In a quickly changing world, multiple factors are making it difficult for manufacturers to hit their target profit margins.
Taxpayer appeals to Supreme Court on ability to elect the MTC’s three-factor apportionment formula in calculating California franchise tax.
Pennsylvania Supreme Court to hear oral arguments in net loss carryforward limitation case, requests parties to consider Mount Airy decision.
Overrules commissioner’s tax avoidance arguments for taxpayers that followed letter of the law in claiming the election.
Tax bill will fund transportation projects with gas tax increase, also offering sales tax rate reductions and personal income tax benefits.