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Best Buy Owes Illinois Sales Tax on Installation Contracts
An Illinois Court of Appeals decision concluded that just because Best Buy enters into contracts with customers to install appliances…
Ohio Concludes that Taxpayer’s Survey Respondents Service is Subject to Sales Tax
As businesses provide more services through technology and software platforms, it becomes essential to consider the sales tax implications, because…
The Deadline for MAAP Repayments is Approaching – Is Your Practice Prepared?
From supply shortages to revenue shortfalls, hospitals and healthcare providers have continued to face unprecedented challenges throughout the COVID-19 pandemic….
Paycheck Protection Program Update: Don’t Forget the Forgiveness!
Last Updated: August 24, 2020 The Paycheck Protection Program (PPP) was created on March 27, 2020 when President Trump signed…
COVID-19 Pandemic Impact on Subsequent Events Assessment
As we continue to battle the uncertainties of the coronavirus pandemic (COVID-19), economic and business disruptions have been prevalent. They…
COVID-19 Pandemic Impact on Revenue Recognition
While coronavirus, COVID-19, continues to impact companies and organizations in the short-term, the long-term impacts remain largely unknown. Companies should…
Proposed Regulations for Carried Interest – Is It Time to Analyze Business Strategies?
When the Tax Cuts and Jobs Act of 2017 introduced the new carried interest rules through IRC Section 1061, it…
IRS 2019 tax correspondence delays – what you should do.
Did you make a tax payment via check leading up to the 7/15 extended IRS due date? Many taxpayers did….
Georgia Enacts Significant Procedural Changes to the Film Tax Credit
On August 4, 2020, Governor Kemp signed into law H.B. 1037, which enacts significant procedural changes to the state’s film…
3 Updates you Need to Know About Business Interest Expense Deduction Limitations
On July 28, 2020, the Treasury and IRS published several pieces of regulation and guidance that will have a significant…
Georgia 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…
Tennessee 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…
New 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…
Missouri 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…
HHS 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…
CARES Act Triggers Maryland’s Automatic Decoupling
On June 12, 2020, the Maryland Comptroller issued its report to the Governor and General Assembly regarding the impact of…
The Remote Audit: Your New Normal
The COVID-19 pandemic caused us to rethink the way we work, and as a result, the way we work with…
Texas Court Concludes That Sirius XM’s Subscriber Revenue is Sourced to Subscriber Location
In states that apply the “income-producing activity” or “services performed” rule for sourcing service revenue, the most important question is…
Idaho Supreme Court Rules That Gain from Sale of LLC Interest is Not Idaho Income
Whether or not two companies are engaged in a unitary business is based on particular facts and circumstances, and the…
South Carolina Rules that Optional Training Services are Taxable When Sold with Taxable Software
As this South Carolina ruling illustrates, whether software is subject to sales tax often depends on the manner by which…
Business Interruption Loss Calculations: Are All Relevant Factors Being Considered?
Lately, there has been a lot of attention on the issue of business interruption claims in the COVID-19 era. The…
Qualified Improvement Property Changes Under the CARES Act
As businesses and individuals continue to deal with COVID-19 and look to survival and recovery, the Coronavirus Aid, Relief, and…
Georgia Court Upholds Walmart’s Freeport Exemption for Self-Checkout Parts
Georgia’s personal property tax freeport exemption can provide significant savings to taxpayers, and the exemption can cover more than just…
Michigan Court Grants Alternative Apportionment Relief
There are situations where application of a state’s apportionment formula may result in an apportionment percentage that is out of…
Effective Cash Management For Construction Contractors In Good & Challenging Times
Cash management is one of the most important aspects of effective financial control for construction contractors, yet it is often…
The Fundamentals – Pulse on the Economy and Capital Markets
Dates covered: 4/13 – 4/17 Executive Summary This was the first week of monthly economic news relating to the initial…
Is PPP Loan Forgiveness a “Credit” on Federal Contracts?
On April 17, Defense Pricing and Contracting (DPC) updated its Frequently Asked Questions. The following is included in the updated…
California Imposed Successor Liability on Purchaser of Restaurant Assets
When acquiring the assets of a business, be careful how the transaction is structured or you may be deemed to…
Florida Applies “Income Producing Activity” Rule to Source Service Revenue to Customer Location
The cost of performance rule for sourcing service revenue when calculating the sales factor of the apportionment formula generally assigns…
Internal Controls in a Remote Workplace Environment
In an effort to #flattenthecurve of the coronavirus pandemic, many workplaces are going 100% remote. Every business should ensure that…
ABCs to Account for COVID-19 Sick Leave
On March 18, 2020, the Families First Coronavirus Response Act was enacted into law and will go into effect on…
Government Contractors Should Be Prepared to Invoke the Excusable Delays Clause
The coronavirus pandemic is adversely affecting the economy and government contracting is no exception. Aprio predicts that some contracts will be…
Shadow Lending’s Rise Opens New Access to Capital
Once relegated to the dusty niches of capitalism, shadow lending has become a viable and sought-after source of capital that’s…
Washington Court Holds that Fees for Access to Online Research Library are Taxable as a Digital Automated Service
As businesses provide more products/services using technology, determining the proper sales/use tax treatment is more difficult given varying state classifications…
Firm Mattresses? Yes. Firm Financials, Not So Much
Steinhoff International Holdings NV (Steinhoff), which owns well-known mattress retailer Mattress Firm, was recently recognized as one of the worst…
The Devil is in the Details (of the Contract): U.S. Tax Court Upholds the Current Definition of “Funded” Research
By Carli Huband, Partner-in-Charge, R&D Tax Credit Services and Maggie Crow, Senior Technical Writer When it comes to qualifying for…
Refundable Tax Credit For D.C. Retail Businesses
Businesses in the District of Columbia should not overlook the Small Retailer Property Tax Relief Credit. The term “small retailer”…
New York: Mandatory S-Corporation Rules Applied Following 338(h)(10) Election
Pursuant to a unique New York provision, a federal S-corporation that did not make a separate New York S-election was…
Massachusetts Explains Application of Multiple Points of Use Exemption for Software Transactions
For businesses that purchase software that will be used concurrently by users in multiple states, sales tax rules may allow…
Alabama Denies Refund of Composite Payments Not Claimed Within Statute of Limitations
Owners of pass-through entities should pay close attention to the taxes that are paid on their behalf by the pass-through…
The SECURE Act Passed – What does it mean for you?
By Michael Saulnier, Director, Retirment Plan Services On Dec. 20, 2019, President Trump signed a new Act into law that…
U.S. Individual Shareholders of Controlled Foreign Corporations May Elect to Decrease Tax on GILTI
The Tax Cuts and Jobs Act (TCJA) enacted various US international tax provisions. The new law includes the US federal…
U.S. Shareholders of Foreign Corporations and the Moving Target of Form 5471
The 2017 Tax Cuts and Jobs Act (TCJA) enacted significant changes to the U.S. international tax regime. U.S. shareholders are…
Navigating S Corporation and Partnership Loss Planning Rules and Limitations
Prior to the enactment of the Tax Cuts and Jobs Act (TCJA), the largest tax overhaul in decades, individuals could…
Exit Strategy Using an ESOP
At a glance The main takeaway: Employee stock ownership plans (ESOPs) are unique and nontraditional vehicles to streamline the business…
Renovations Placed in Service Provide Tax Deductions for Hospitality Business Owners
As 2019’s tax year begins to wind down, restaurant, hotel, and food distribution owners have the opportunity to take advantage…
California Issues Ruling on Sourcing of Income Paid to Independent Directors
Individuals who serve as independent members of a corporation’s board of directors may find that that their board compensation is…
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…