Archive for August 2018
Aprio, Kingston Smith Become Techstars Global Accelerator Network Partner
Organizations To Serve Cohorts Around the Globe With Financial Advice, Mentorship ATLANTA (PRWEB) AUGUST 28, 2018 Aprio, LLP, a full service, CPA-led business advisory firm, announced today that the company and Kingston Smithhave become global partners of Techstars. The two organizations have partnered, along with other Morison KSi firms, to provide financial advice and mentorship to Techstars classes…
Read MoreNew Trust Services Criteria Are Set to Transform SOC 2 Reporting
The ability to demonstrate readiness for the next cyber event is a significant competitive advantage for any company that collects or processes highly sensitive data. A SOC 2 report backed by the new and improved Trust Services Criteria now provides service organizations with a much stronger basis to demonstrate the strength of their information security…
Read MoreDoing Business in China? Make VAT Part of the Revenue Equation
Consider this increasingly common international business scenario: A service provider offers data analytics to clients in China through an online platform. The provider does not have a physical presence in China. In fact, there is no office or legal entity set up in China. And service payments coming from China-based customers are consistently less than…
Read MoreTexas Finds Individual Personally Liable for Unpaid Sales Tax
A Texas Administrative Law Judge found that the president and sole owner of a business should be personally liable for the unpaid sales tax of the business because he had control over and supervised the payment of taxes. By Jess Johannesen, SALT Manager States view sales tax as a trust fund tax, meaning that when a…
Read MoreMassachusetts Rules Taxpayer Outsourcing its Manufacturing Activities Must Still Use Single Factor Apportionment
The Massachusetts Appellate Tax Board determined that an out-of-state company was a manufacturer and therefore required to use single sales factor apportionment, even though it outsourced its manufacturing activities to third parties. When determining the amount of a multi-state business’ income is subject to tax in any particular state, the states are required to fairly…
Read MoreNew York Rules That Purchaser of a Business is Liable for the Seller’s Sales Tax Delinquency
The New York Division of Tax Appeals held that a purchaser of a business is liable for the seller’s sales tax exposure, even when that exposure was due to the seller’s acquisition of another business. By Tina M. Chunn, SALT senior manager When purchasing a business, acquirers often prefer to buy the assets of such business…
Read MoreState Corporate Income Tax Consequences of IRC Section 965 Repatriation Income
State guidance that has been issued so far reveals the complexity and variation among them, and taxpayers must analyze the rules carefully to understand the impact and ensure they are properly reporting the income. By Jeff Glickman, SALT Partner While most of the impact of the Tax Cuts and Jobs Act of 2017 (“TCJA”) will be…
Read MoreMichigan Rules That Repossessed Property Does Not Preclude Bad Debt Sales Tax Refunds
Businesses that write off bad debt may be able to claim sales tax refunds, and as this Michigan Supreme Court case reveals, taxpayers need to make sure they follow technical procedures and maintain appropriate supporting documentation. Has your business ever written off a bad debt? Have you considered the sales tax implications of that write-off? …
Read MoreDeath of DOL Fiduciary Rule Raises Question: Do You Know Your Fiduciary Ecosystem?
The on-again, off-again legal deathwatch of a stronger fiduciary rule by the U.S. Department of Labor that captivated investment advisors and lawyers for the past two years is finally being laid to rest. The rule, which implemented a higher standard for investment advice on retirement accounts, took effect in 2016 but was thrown out by…
Read MoreAtlanta Business Chronicle Viewpoint: Call to Action for Georgia Manufacturers
Originally published in the Atlanta Business Chronicle on Friday, Aug. 24, 2018. View the original here. Georgia’s manufacturing industry is at a crossroad. For decades, Georgia has attracted manufacturing investment dollars from across the globe thanks to a large workforce, affordable real estate and robust logistics infrastructure. That favorable climate has attracted billions of dollars…
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