Archive for August 2021
Subscription to Use Data is Taxable Under Arizona’s Transaction Privilege Tax
By Betsy Goldstein, SALT Manager At a glance The main takeaway: Arizona recently ruled that subscription fees to use data will be considered as a taxable rental of tangible personal property under its Transaction Privilege Tax. Impact on your business: The ruling demonstrates that states may take a broad view of what constitutes as tangible…
Read MoreCryptocurrency Miners are Now Eligible for Kentucky Tax Incentives
By: Jeff Glickman, SALT Partner At a glance The main takeaway: Kentucky recently enacted tax incentives focused specifically on cryptocurrency mining facilities. Impact on your business: Other states are offering similar types of incentives to attract large data centers, which may apply to crypto miners. Next steps: Aprio’s State and Local Tax (SALT) team can…
Read MoreCalifornia Enacts a Pass-Through Entity Tax as a SALT Cap Workaround
By: Jeff Glickman, SALT Partner At a glance The main takeaway: With the signing of AB 150, California is the latest of several states to establish an elective pass-through entity (PTE) tax. Impact on your business: The PTE tax is intended to be a workaround to the federal $10,000 cap on the deduction for state…
Read MoreNot-For-Profit GAAP: Defining Equity Transfer and Equity Transaction
An equity transfer is a nonreciprocal transfer between related not-for-profit (NFP) organizations, where one of the not-for-profits owns the other or the entities are under common control. They do not require repayment and are effectively a gift. For example, NFP “A” is the parent organization to NFP “B.” NFP “A” transfers resources to NFP “B,” with…
Read MoreFraud Has No Borders
At a glance: The main takeaway: Fraud is a global concern, as evidenced by some of the most famous global fraud cases in modern history. Impact on your business: Continued technological advances and modern fraud techniques mean no business is entirely protected – and the source can come from virtually anywhere. Next steps: As fraud…
Read MoreCross-Border M&A: Section 338(g) Elections After TCJA
338(g) Elections at a glance Schedule a consultation today 338(g) election – the full story: When exploring avenues to grow their business, a U.S. corporate taxpayer may expand offshore by purchasing a foreign business. Similar to a domestic acquisition, an initial structuring question the taxpayer must address is whether to purchase stock or assets of…
Read MoreReal-World Advice for Adding a Founding Shareholder to Your Company
At a glance The main takeaway: Entrepreneurs and founders often wonder about the best way to reward key employees who have helped build and grow their businesses. Impact on your business: There is a wide range of valuable compensation structures and plans to choose from, but the key is to enlist the help of an…
Read MoreUnderstanding the ERC’s More than Nominal Requirements
At a glance: Claiming the ERC because of partially suspended operations? Contact Aprio’s expert ERC team to assess your eligibility. The full story: Since its inception, the Employee Retention Credit legislation has stated that a company can only qualify due to a partial suspension of operations if the applicable government orders suspended more than a nominal portion of its…
Read MoreTips to Attract Top Talent
The buzz around the labor market has been reaching a fever pitch over the past few months. What does this mean for you, as an employer? Watch this video to learn where both employers and employees fit into the current labor market, and what you should be doing to stay competitive and attract the best…
Read MoreGet Your Top ERC Tax Questions Answered
At a glance Schedule a consultation with our ERC team today The full story: The Employee Retention Credit (ERC) has been a much-needed cash resource for businesses struggling under the weight of the COVID-19 pandemic. But for many businesses one question lingers “Is the Employee Retention Credit taxable?” — especially since the IRS has released…
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