Archive for December 2019
Georgia Addresses Sales of Services Versus Tangible Personal Property
When businesses provide tangible personal property in connection with the delivery of a service, states often engage in a fact-specific and subjective analysis to determine whether the transaction should be treated for sales tax purposes as a taxable sale/lease of property or an exempt sale of a service. By Tina M. Chunn, SALT Senior Manager One…
Read MoreWyoming Rules That Sale of Business Assets Was Subject to Sales Tax
While most states provide a sales tax exemption for sales of business assets, the specific language of these exemptions differs among jurisdictions, and taxpayers that do not structure their transactions properly may find themselves on the wrong end of a sales tax dispute. By Jess Johannesen, SALT Manager When engaged in a transaction to buy/sell a…
Read MoreTennessee Issues Sales Tax Guidance on Car Subscription Services
In today’s economy there are subscription services for just about anything, including cars, and a Tennessee letter ruling highlights some of the unique state tax issues presented by this growing business model. By Jeff Glickman, SALT Partner Today we seem to have subscriptions for everything from movies to clothing to meals, and now . . .…
Read MoreIllinois Concludes that Receipts from Deemed Sale of Assets is Excluded from the Sales Factor
When selling a business, the receipts from the sale of assets can have a significant impact on the sales factor for apportionment purposes, which is why many states have special rules to address these transactions. By Kristen Davis, SALT Associate Businesses that operate and file income tax returns in multiple states are likely familiar with…
Read MoreUber Eats is a Marketplace Facilitator….Are You?
Almost as many states impose sales tax obligations on marketplace facilitators as they do on businesses with economic nexus, and the reach of these marketplace rules goes beyond Amazon, Etsy and eBay. Just ask Uber Eats. By Jeff Glickman, SALT Partner Somewhat lost in the quick and expected proliferation of sales tax economic nexus laws following…
Read MoreNot All SOC 2 Reports are Created Equal
Information security in and of itself is incredibly complex. And the framework for SOC 2 examination and reporting is equally complicated. So, it’s not surprising that often neither customer nor service organization understand the difference between a good SOC 2 report and a bad one. The quality and utility of SOC 2 is in the…
Read MoreThree Things You Need to Know About Opportunity Zone Tax Incentives with New Developments
By: Ross Boardman, Angela Brown, and Steven Gluck While the enactment of the TCJA and its stemming tax consequences have received mixed results, many taxpayers should be pleased with the opportunities that Qualified Opportunity Zones (“QOZ”) offer. Qualified Opportunity Zones are governor designated areas in each state that have been identified as underappreciated and underutilized.…
Read MoreThe SOC 2 Provider Checklist
New In-Person Meetings with Revenue Officers Aim to Encourage Compliance… But What Are the Risks?
By: Mitchell Kopelman, Partner-in-Charge, Tax and Maggie Crow, Senior Technical Writer, R&D Tax Credit Services. On Nov. 15, 2019, the IRS announced a new compliance protocol that will involve deploying agents around the country to conduct face-to-face meetings with taxpayers. The IRS specified that these meetings will take place in communities where there have historically…
Read More5 Ways to Polish Your Accounting Resume
The process of creating a resume is not intuitive. No one is born knowing the unspoken rules of business and professionalism—rather, we learn about these nuances and guidelines through research, career service centers, and professional experiences. If you are an accounting student looking to create or perfect your resume, Aprio is here to help! Here…
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