Archive for July 2020
Private Equity Webinar Series Session 4: Insurable or Not? Representations and Warranties
Watch the webinar now as our panelists discuss how you can address transaction risk through representations and warranties insurance (RWI). Topics covered include: Current insurance company appetites for writing RWI COVID-19 specific changes in pre-existing RWI language New COVID-19 related representation requests Changes in diligence around RWI Negotiating risk for COVID-19 related losses outside of…
Read MoreGeorgia and Arkansas Issue Opposite Sales Tax Rulings for Owner of Electric Car Charging Stations
A taxpayer received opposite rulings from Georgia and Arkansas regarding the applicability of sales tax on charges to customers that use the taxpayer’s electric car charging stations even though both states tax the sale of electricity. By: Jeff Glickman, SALT Partner One of the biggest challenges for state tax advisors regarding sales tax is the…
Read MoreTennessee Ruling Concludes that Certain Audio and Visual Services Constitute Taxable Digital Products
A recent Tennessee Revenue Ruling explains the application of the state’s sales tax on digital products to the taxpayer’s audio/visual services. Businesses should consider whether their products/services might be taxable as digital products. By: Betsy Tuck, SALT Manager States traditionally assess sales tax on tangible personal property, including intellectual property sold via tangible mediums, such…
Read MoreNew York Concludes that Loss on Liquidation of Partnership is Not New York Source Income
New York has a unique rule for nonresident individuals regarding the sourcing of gain/loss on the sale of equity interest in certain entities that own real estate located in the state, and this advisory opinion highlights a potential opportunity to avoid New York tax on the sale of that equity interest. By: Jess Johannesen, SALT…
Read MoreMissouri Court Applies Integrated Plant Doctrine to Manufacturing Exemption
States typically provide exemptions for manufacturing machinery and equipment, include repair and replacement parts, but the breadth of those exemptions varies by state based on a variety of factors. As this Missouri case illustrates, each item purchased must be analyzed independently. By: Tina M. Chunn, SALT Senior Manager Most states provide some form of sales…
Read MoreAprio PPP Loan Forgiveness Resource Center Q&A
Provider Relief Fund Recipients May Require Single Audit
The Provider Relief Fund is a $175 billion allocation from the CARES Act to the Department of Health and Human Services (HHS) intended to provide relief to healthcare providers. The HHS is distributing funds at their discretion to cover certain expenses and lost revenues incurred as a result of COVID-19 (read our eligibility guidance here).…
Read MoreHHS Deems Provider Relief Fund Distributions Taxable
Announcement could affect healthcare practitioners’ tax liability Many medical providers have taken advantage of the Provider Relief Fund, a part of the CARES Act intended to cover certain expenses and lost revenues that healthcare practitioners have incurred as a result of COVID-19 (read our eligibility guidance here). On July 10, 2020, the Internal Revenue Service…
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Read MoreDo Not Sell My Information Request Form
If you’d like to exercise any of your rights as a consumer, please select from the options below and provide the following information so that we can verify your request. We will complete your request in a timely manner. You will receive a response to the email address entered into the form below.
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