March 09, 2018
The United States Supreme Court (the Court) has announced that it will hear a case that would allow states to require all remote sellers to collect sales taxes if they meet an economic ...
March 09, 2018
In December 2017, President Trump signed into law the Tax Reform Act of 2017 (the Act) which made extensive changes to the Internal Revenue Code (the Code). Many of these changes will also have a ...
March 09, 2018
Recent federal tax reform legislation amended Internal Revenue Code (the Code) Sec. 163(j), effective for tax years beginning after 2017. Amended Sec. 163(j) generally limits a business’s annual interest expense deduction to 30% ...
June 12, 2018
For a limited time, until June 30, 2018, Washington’s Marketplace Fairness Penalty Reduction Program will allow applicants who meet program requirements to receive certain benefits, including penalty abatement and a limited look back ...
June 12, 2018
Connecticut recently passed legislation (S.B. 11) that imposes a new tax on any entity treated as an S corporation or partnership for federal tax purposes. The motivation behind the new entity-level tax is ...
July 19, 2018
New Jersey Governor Phil Murphy signed a new state budget into law on July 1, 2018. The final budget makes sweeping changes to New Jersey’s Corporation Business Tax (CBT) regime and is generally ...
July 19, 2018
Prior to enactment of the Tax Cuts and Jobs Act (TCJA), Sec. 118 of the Internal Revenue Code exempted most non-shareholder contributions to capital that were made to a corporation from taxable income. Historically, ...
September 20, 2018
California’s Franchise Tax Board (FTB) held its third Interested Parties Meeting (IPM) on May 18, 2018, to discuss proposed changes to California Code of Regulations Title 18 Sec. 25136-2, which enumerates the state&rsquo ...
September 20, 2018
The federal tip credit is a valuable benefit for restaurant owners. But, it is not just a federal benefit – many states and local taxing jurisdictions extend similar income tax credits or deductions ...
September 20, 2018
The California Office of Tax Appeals (OTA) has issued a decision that provides authority for California taxpayers to do drop and swap and similar swap and drop Sec. 1031 transactions. The decision gives California ...
