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5 States with the Lowest Combined Business Taxes

CPA Practice

One crucial factor to consider when selecting your business location is the tax environment. Business taxes can significantly impact your bottom line and overall profitability. The importance of business taxes As an entrepreneur, you face countless decisions when starting a business.

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More Than a Loophole: Delaware Sales Tax and Other Benefits of Incorporation in DE

inDinero Tax Tips

From startups to public enterprises, your bottom line is affected by your state of incorporation’s corporate income tax, excise (sales and use) tax, sales tax, physical and economic nexus tax, franchise tax, and gross income tax. Final payment on the remaining balance of franchise tax over $5,000 owed.

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Legalization and Taxation of Cannabis

TaxConnex

Among the first states to legalize marijuana some seven years ago, Washington collected $614 million in marijuana tax revenue last year. And Colorado raked in $362 million in marijuana taxes in 2020, a 30% jump from 2019. Other states doing well with tax on marijuana include Oregon, Nevada, Massachusetts, Illinois, and Michigan.

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IRS Extends Deadline for California Taxpayers Impacted by Natural Disasters

Withum

Over the past few days, the IRS has issued several updates regarding tax relief for victims of severe winter storms, flooding, landslides, and mudslides. The last updated news release on February 24, 2023, states that affected taxpayers now have until October 16, 2023 to file various individual and business tax returns and make tax payments.

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Accounting Students from University of Nebraska Win 2024 Deloite FanTAXtic Competition

CPA Practice

A team of students from University of Nebraska , Lincoln, claimed victory at the Deloitte FanTAXtic national case study competition by presenting the best analysis on a complex, issues-driven business tax case. Well done and thank you to all the participants.”

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Southern Illinois University Wins 21st Annual Deloitte FanTAXtic National Case Study Competition

CPA Practice

A team of students from the Southern Illinois University, Carbondale, claimed victory at the Deloitte FanTAXtic national case study competition by presenting the best analysis on a complex, issues-driven business tax case.

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How to File Income Tax Return: Tax Filing Preparation Guide 2022

Snyder

Note: The important thing is that the United States income tax rates are marginal , which just means that each tax rate applies to only one part of your income. . Income tax calculations are reflected in the business tax return. In the USA, the IRS or local tax agencies play the role of such authority.