Taxes
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…
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…
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…
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…
Wyoming 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…