Withum

SEPTEMBER 2, 2022

New York City’s tax code was amended on August 31, 2022, to harmonize a number of the City’s provisions with New York State. New York City Corporate Economic Nexus. Under the factor-based nexus standard, a C corporation has nexus with New York City if it derives $1 million or more in receipts from activity in the state.

New York 83

New York Tax tax return corporation tax 83

Accounting Insight

FEBRUARY 1, 2024

A large business tax enquiry / corporate tax enquiry is carried out by HMRC’s ‘Large Business’ directorate and ‘Wealthy & Mid-sized Business Compliance’ directorate. This calls for increased resources being required at the business’ end (i.e. more people and time resources and so costs too).

corporation tax 52

corporation tax tax return accounting and finance business tax 52

CPA Practice

MARCH 8, 2023

In August 2022, the landmark Inflation Reduction Act (IRA) was signed into law. The plan also calls for $238 billion in deficit reduction, three years of Affordable Care Act subsidies and prescription drug reform to lower prices. = Ryan Sheehan is a Senior Product Lead for Bloomberg Tax & Accounting. By Ryan Sheehan.

income tax 111

income tax Tax financial statements corporation tax 111

TaxConnex

DECEMBER 1, 2022

The plaintiffs have reportedly said that Louisiana’s patchwork sales tax compliance system is a labyrinth filled with audit traps and now say the case belongs in federal court because Wayfair was ultimately decided in the U.S. The five worst states for business based on sales tax are Alabama, Washington, Louisiana, California and Tennessee.

Sales 130

Sales Tax Alaska Louisiana 130

Withum

MAY 4, 2022

Some of the major PTET highlights include amplifying the benefits for resident S corporation shareholders, as well as establishing a New York City PTET. For context, in January 2022, New Jersey revised its PTET, resulting in it being more uniform with New York’s PTET. PTET Income Tax Addback.

income tax 112

income tax New York Tax New Jersey 112

ThomsonReuters

FEBRUARY 20, 2024

To ensure tax compliance and resolve tax questions that may arise when conducting business-related transactions, it is critical that corporate tax specialists keep pace with local and international anti-avoidance legislation in today’s ever-changing legislative environment.

income tax 52

income tax corporation tax Tax tax planning 52

ThomsonReuters

MARCH 9, 2023

In this post, we will highlight 3 of our top resources included in our Tax Season Toolkit : Year-End Tax Planning for individuals and businesses, How APIs can help transform your practice, and a Case Study detailing how GoSystem Tax RS and GoFileRoom helped a firm. But these will not go into effect until 2023. What’s new?

Tax 59

Tax Account accountant accounted 59

CPA Practice

JANUARY 12, 2024

By Caitlin Reilly, CQ-Roll Call (TNS) A bipartisan, bicameral $70 billion tax agreement taking shape on the Hill is drawing mixed reviews, pointing to potential challenges ahead for Senate Finance Chair Ron Wyden and Ways and Means Chairman Jason Smith. dismissed it as a giveaway to corporate donors. Elizabeth Warren, D-Mass.,

Tax 98

Tax Idaho Iowa New York 98

Wellers Accounting

MARCH 2, 2023

Tom Biggs ACA CTA , highlights the different considerations and strategies that need to be reviewed for effective end of year tax planning.

Tax 52

Tax tax planning income tax corporation tax 52

Withum

MARCH 21, 2022

As you may recall, the 199A deduction was incorporated in the TCJA as a compromise for pass-through entities owners after significant public comment following the proposed decline of the corporate tax rate 35% to 21%. This results in over $100,000 more cash for the C corporation. Aren’t federal income taxes grand?

Tax 128

Tax corporation tax income tax tax services 128

Inform Accounting

NOVEMBER 18, 2022

The leaked and previously announced tax increases are still going ahead…. Corporation tax from April 1 2023 to increase to 25% for companies with profits over £250,000. Companies with profits under £50,000 will be taxed at 19%. Companies with profits between £50,000 and £250,000 will be taxed between 19% and 25%.

Tax 52

Tax income tax tax return corporation tax 52

inDinero Tax Tips

NOVEMBER 15, 2021

After subtracting deductions, you’ll only need to pay taxes for your net revenue. The current business tax rate is 21% at the federal level, plus state corporate taxes that range anywhere from 0-11.5%. Each state has different tax laws , and it’s a good idea for businesses to get advice for tax preparation.

Tax 52

Tax income tax Legal Entertainment 52

LyfeAccounting

APRIL 22, 2021

Business Energy Tax Investment Credit. Here’s a full list of business tax credits from the IRS website. Amazon makes business decisions that will provide them with the biggest tax benefit. In 2019, Amazon broke its streak of paying $0 Federal taxes and actually owed money to the federal government.

Tax 52

Tax Virginia Georgia income tax 52

ThomsonReuters

OCTOBER 19, 2022

Who needs to know: Corporate taxpayers and their advisors. The Inflation Reduction Act of 2022 imposes a new 15% corporate alternative (book) minimum tax on the adjusted financial statement income of applicable corporations (those with 3-year average financial statement income of at least $1 billion).

income tax 64

income tax Kansas Kentucky Tax 64

ThomsonReuters

DECEMBER 14, 2020

Business Tax Professionals. The tax rules and regulations U.S. Biden’s corporate tax policy agenda calls for increasing the corporate income tax rate from 21% to 28%, changing the way GILTI is calculated, creating onshoring incentives, and more. The New Year Brings Fresh Uncertainty for U.S.

business tax 94

business tax Tax Montana New Hampshire 94