Archive for April 2017
Trump Administration Introduces Plan to Simplify Tax Code
By Mitchell Kopelman, partner-in-charge of Tax; Robert Steele, tax senior associate; Victoria Ferree, tax associate; Steven Gluck, tax associate; and Parker Rozelle, tax associate With their tax briefing on April 26, 2017, the Trump administration moved forward with their proposed plan to simplify the tax code and cut tax rates across the board. While the…
Read MoreGeorgia and Arkansas Enact Federal Income Tax Conformity Legislation
Georgia brought its income tax code section in line with changes enacted by Congress, and Arkansas eliminated the ability of S-corporations to be treated as C-corporations at the state level. By Jeff Glickman, SALT partner Georgia Updates Internal Revenue Code Conformity On March 21, 2017, Georgia Governor Nathan Deal signed House Bill 283, Georgia’s annual…
Read MoreFlorida Rules that Drop Shipments Not Taxable When Supplier and Retailer are Located Outside Florida
Florida ruled that the sale for resale transaction was not taxable because both parties had no in-state locations and the goods were delivered from out-of-state. Drop shipments are a common form of sales and delivery method within a supply chain. A typical drop-ship arrangement includes three parties, the retailer, the purchaser and the supplier, and…
Read MoreMichigan Explains New Combined Filing Requirements for Unitary Business Groups
As a result of a recent Court of Appeals decision that “indirect” ownership doesn’t include attributional or constructive ownership, Michigan taxpayers must amend affected returns. On Feb. 28, 2017, the Michigan Department of Treasury released a taxpayer notice explaining how to apply its combined tax filing rules in light of the decision by the Michigan…
Read MoreJim Canfield Joins Aprio as Managing Director of CEO Tools by Aprio
CEO Tools offers small businesses the tools and resources they need to achieve what’s next ATLANTA – April 20, 2017 – Aprio, LLP, formerly Habif, Arogeti & Wynne, the largest full-service, CPA-led business advisory firm based in Atlanta, Georgia, announced today that Jim Canfield has joined Aprio as managing director of CEO Tools by Aprio.…
Read MoreEndowment Updates
Nonprofits dream of substantial endowments to allay rising operating costs and for greater flexibility to pursue new programs and ideas. Nonprofits such as prestigious universities, have often achieved this goal. Endowments generally involve donations to nonprofits whereby the corpus or principal of the gift are to remain intact and the “earnings” on the corpus can be…
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