Taxes
New York Imposes Sales Tax on Purchaser of Assets Even When Seller Committed Fraud
Buyer Beware! States generally enforce successor liability for sales tax against purchasers of a business, even in cases where the…
Arkansas: Contractor May Purchase Exempt Solar Farm Equipment Without Sales Tax
Sales tax rules for manufacturing businesses differ among the states, particularly with regard to the exemption for manufacturing equipment, and…
IRS Revives Form to Report Nonemployee Compensation
Employers who pay subcontractors nonemployee compensation should be aware of a change coming after 2019. The Internal Revenue Service (IRS)…
FASB Votes to Delay New Lease Standard Effective Date
On July 17, 2019 the Financial Accounting Standards Board (FASB) voted unanimously to draft an Accounting Standards Update (ASU) to…
Is Preferred Equity Right for Your Deal?
As CRE Lending Tightens, Preferred Equity Makes a Comeback Preferred equity is nothing new in commercial real estate, but we…
South Carolina Rules Data Collection and Analysis Services Using Online Reporting Software is Not a Taxable Communications Service
Sometimes states and taxpayers jump to the conclusion that if SaaS is provided, then the transaction is automatically taxable if…
New York Court Holds that Competitive Price Audits Constitute Taxable Information Services
In applying the “personal and individual” exclusion to otherwise taxable information services, New York’s high court looked to the nature…
Not All States Are On Board with the Tax Benefits of Qualified Opportunity Zone Investments
The Tax Cuts and Jobs Act provides very favorable tax benefits to taxpayers that make investments in Qualified Opportunity Zones,…
States Continue to React to the Tax Cuts and Jobs Act’s New GILTI Provisions
States continue to enact legislation on the treatment of GILTI over a year and a half after such provisions were…