Archive for February 2017
Technology & Biosciences Insights February 2017
https://www.aprio.com/media/newsletters/tb-insights-2-17.html
Read MoreGeorgia Ruling Addresses Sales Tax Treatment of Non-Itemized Lease Payments
The fees itemized or not itemized on an invoice to a customer can impact the sales tax a business must collect and remit. By Jeff Glickman, SALT partner One issue that comes up frequently in the sales and use tax area is how to charge sales tax when a particular amount invoiced to a customer…
Read MoreMassachusetts Classifies Biotech Company as Manufacturer Requiring Single Sales Factor Apportionment
State income apportionment methods sometimes vary by industry, and a recent case highlights the importance of industry classification. By Tina Chunn, SALT senior manager In the last several years, many states have enacted legislation to change the method used in apportioning income to their state for income tax purposes. Specifically, these states are moving away…
Read MoreIndiana Rules that Cloud-Based Solution for Webcasting is Not Taxable
Indiana decided that the taxpayer’s business was a non-taxable service, instead of a taxable software product. Companies frequently use webcasts as a means to educate their employees and the public, for product launches, conferences, training and a variety of other reasons. In states that tax remote access software services or SaaS, it is often difficult…
Read MoreUtah Rules that Taxpayer Lost Net Operating Loss Carryover Following Merger
A recent Utah case stated that if an acquired company is merged out of existence, its NOLs cannot be deducted by the surviving entity. By Jess Johannesen, SALT manager When corporations engage in restructurings or acquisitions, one important tax consequence that must be addressed is the treatment of any tax attributes, particularly net operating losses…
Read MoreCalifornia Court of Appeals Confirms Passive LLC Members Aren’t Liable for Minimum Franchise Tax
A California court determines that passive investors are not “actively engaged” and thus are not doing business in California for franchise tax purposes. For years, California has taken the position that all members of an LLC (electing for federal tax purposes to be taxed as a partnership) doing business in the state have a California…
Read MoreSage Construction and Real Estate Current Software Promotion
Are you in need of more licenses for your Sage Construction and Real Estate (Sage CRE) software? Does your team have to wait for someone else to exit the software before they can log-in and get their job done? Now is a great time to add extra licenses to your current Sage CRE set up! Mix…
Read MoreThe Presentation of Financial Statements of Not-For-Profit Entities is Changing
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Revenue Recognition Series: Why Were the New Revenue Standards Issued?
In order to fully appreciate the implications of the new revenue standards it is helpful to understand the process which led to the changes. Over the past decade, the Financial Accounting Standards Board (FASB), which establishes generally accepted accounting principles in the United States of America (US GAAP), and the International Accounting Standards Board (IASB),…
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