Archive for November 2016
Tennessee Sales Tax Rule Continues Economic Nexus Trend
This article was co-authored by Paul A. Zee-Cheng. On October 3, 2016, Tennessee issued a proposed rule making it the third state to impose a sales tax collection obligation on certain out-of-state sellers with no physical presence in a State (Rule 1320-05-01-.129). Under the new rules, out-of-state sellers who make over $500,000 in sales to consumers…
Read MoreOhio Supreme Court Upholds the Factor Presence Nexus Rules for the Commercial Activity Tax
The Ohio Supreme Court has determined that a physical presence is not a necessary condition to levy a business privilege tax. In the June 2015 edition of the SALT Newsletter, we examined Ohio’s factor presence nexus rules for the Commercial Activity Tax (“CAT”), which require an out-of-state taxpayer with at least $500,000 in annual Ohio…
Read MoreDeadline for ACA Reporting Extended
On November 18, 2016, the IRS announced (Notice 2016-70) that the deadline for 2016 reporting requirements under Sections 6055 and 6056 have been extended. This extension is applicable to the distribution of the forms to employees and covered individuals only, not the filing of the forms with the IRS. An automatic extension of 30 days…
Read MoreThe New York Times: Insure This Business? Start-Ups Face Challenges
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Read MoreFour Things to Consider Before Switching to a SaaS Business Model
If your software business is considering a switch to SaaS, here are some financial considerations to take into account before making the change. By Robert Casey, partner and Anish Amin, senior associate The Software-as-a-Service (SaaS) business model, where software is hosted on the cloud and licensed as a subscription, has become very popular in recent…
Read MoreIRS Issues Final R&D Tax Credit Regulations for Internal Use Software
New regulations may help companies take advantage of this credit where they were previously unable to. By Carli McDonald, director and Denisse Beldin, associate Many technology companies develop software to help streamline business processes and improve operations. Designing and developing this software could mean tax savings in the form of Research and Development (R&D) Tax…
Read MoreTransfer Pricing Benchmark Analysis
Twenty Title Agencies Deemed Compliant with ALTA Best Practices by HA&W’s ComplianceSuccess Program
Title agencies deemed compliant in August, September and October 2016 November 14, 2016- HA&W, LLP, a nationally-recognized tax, audit and business advisory firm headquartered in Atlanta, announced today that the firm has deemed 20 title agencies compliant with ALTA Best Practices. These agencies, along with more than 500 others, have partnered with HA&W through its…
Read MoreTechnology & Biosciences Insights November 2016
https://www.aprio.com/media/newsletters/tb-insights-11-16.html
Read MoreLong-Term Lease? Are You Accounting for It Properly? Part II
Process: Why should I care if I use cash basis accounting? First and foremost, it is important to outline that all leases subject to § 467 will be computed on the accrual method of accounting. Therefore, the average monthly payments must be calculated regardless of your accounting method. How to calculate The impact of deferred and prepaid…
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