Archive for June 2019
What You Need to Know about Virginia’s New Sales & Use Tax Collection Requirements
Many states have updated their laws since the Supreme Court issued its South Dakota v. Wayfair decision in June 2018 to reflect an economic nexus standard for sales and use tax purposes. Virginia is no exception. In March 2019, Virginia passed SB 1083, which requires remote sellers and marketplace facilitators to register for the collection…
Read MoreIRS Releases Regulations Affecting Contributions to State Tax Credit Programs
By Rob Stroud, Senior Tax Manager, and Keith Little, Senior Tax Associate For several years, various programs have been popular with Georgia taxpayers due to the tax credits available to offset Georgia income tax. Especially popular were the Rural Hospital Tax Credit Program and Qualified Education Expense Tax Credit programs, which allowed for a Georgia…
Read MoreUnited States Supreme Court Holds That State May Not Tax Trust Due Solely to Resident Beneficiary
The Court’s unanimous decision, while expressly limited to the specific trust at issue, provides taxpayers with opportunities to obtain state income tax refunds and to engage in estate planning to minimize state income taxes utilizing properly structured trusts. By Jeff Glickman, SALT Partner On June 21, 2019, the United States Supreme Court issued its unanimous opinion…
Read MoreU.S. Government Contractors and Cross-Border Payroll Tax Issues
The cross-border global expansion of business activities continues to increase exponentially in the US government contracting industry. Many government contracting companies are performing contracts more often in other countries and on a greater scale than ever before. As a result, contractors are being faced with some critical planning opportunities to manage the cross-border flow of…
Read MoreTexas Rules That Taxpayer is Providing Taxable Data Processing Services
Whether a particular service should be classified for sales tax purposes as an exempt information service or a taxable data processing service is not always clear, and choosing incorrectly can result in unexpected sales tax exposures. By Jess Johannesen, SALT Manager As technology continues to evolve and reshape the way that businesses operate, state tax laws…
Read MoreAlabama Supreme Court Holds That Custom Software Is Taxable
The Alabama Supreme Court ruled that custom software is taxable (reversing over 20 years of guidance from the state) and that certain software services may be nontaxable if separately stated. By Tina M. Chunn, SALT Senior Manager Software has often been a confusing product when determining whether sales tax will apply in each state, since taxability…
Read MoreNew Jersey Issues Guidance for Mandatory Unitary Combined Reporting
As part of a major corporate tax overhaul, New Jersey enacted mandatory combined unitary reporting for taxable years ending on or after July 31, 2019, and taxpayers should take time to familiarize themselves with these rules and plan for the potential impact to their state tax liability. By Jeff Glickman, SALT Partner In the second half…
Read MoreWayfair and Nexus: The Aftermath, Part 5 – Aggregation and Local Issues
To celebrate the one-year anniversary of the Wayfair decision, this article addresses recent guidance from Virginia on its aggregation rules for computing the sales threshold, as well as the potential impact of the decision on local tax jurisdictions. The one-year anniversary of the Wayfair decision was celebrated on June 21 and during the past year,…
Read MoreAprio’s Howard Zandman Receives NACVA’s Thomas R. Porter Lifetime Achievement Award
Award honors individuals who demonstrate exemplary character, leadership and professional achievements in the areas of accounting, valuation and financial forensics ATLANTA (PRWEB) JUNE 17, 2019 Aprio, LLP, a nationally-recognized CPA-led business advisory firm, is pleased to announce that Howard Zandman, partner-in-charge of its Litigation Support and Forensic Accounting Services practice, has been awarded the 2019 Thomas R. Porter Lifetime Achievement…
Read More