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AICPA News – July 2025

CPA Practice

Rosen, CPA, MST, AEP®, former Director and shareholder at Belfint, Lyons & Shuman, in Wilmington, Delaware. Provide guidance on Notice 2020-75 and sections 469 and 163 on nonpassive versus passive income and interest expense tracing. Partnership Tax TRP Remove Treas.

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5 States with the Lowest Combined Business Taxes

CPA Practice

Some key factors to evaluate include: Tax rates Tax rates vary widely across states. Some states have higher corporate income tax rates, while others offer lower rates or no tax at all. Property tax rates can vary significantly, impacting the cost of owning or leasing business space.

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Direct vs. indirect tax: the differences

ThomsonReuters

The differences between direct tax and indirect tax are important to understand. Direct tax is paid directly by the taxpayer to the government and cannot be shifted, like federal income tax. In contrast, indirect tax, such as business property taxes, can be passed on or shifted to others.

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