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How SUI and State Income Taxes Affect Small Businesses

CPA Practice

Typically, states also have a special SUI rate for construction companies. In Alaska, New Jersey, and Pennsylvania, both employers and employees contribute to the fund, with the employee’s portion of SUI deducted from their paychecks. They need EINs to set up an account with the unemployment office to file and remit SUI taxes.

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What's new in May for state sales and use taxes

TaxConnex

Early discussions bandied property taxes and temporary hikes in sales tax (Alaska doesn’t have a state-wide one). States’ sales taxes account for almost 30% of state tax revenue, but most sales taxes are imposed on narrow and still-narrowing bases, according to a new report from the Tax Foundation. Then the $6.2 Time for a renovation?

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IRS Issues Form 8915-F for Reporting Qualified Disaster Distributions and Repayments, Provides 2021 Forms for Earlier Disasters

ThomsonReuters

Part IV determines the tax consequences of distributions taken for the purchase or construction of a main home that was not purchased or constructed due to the disaster, adjusted for repayments. The IRS may have intended to refer to the late-2020 Alaska (4585-DR-AK) disaster discussed later in the instructions.)

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What is sales tax?

ThomsonReuters

In fact, there are five states — Delaware, Montana, New Hampshire, Alaska, and Oregon — that do not levy a general state sales tax. appeared first on Tax & Accounting Blog Posts by Thomson Reuters. This is a point where it can get confusing for businesses as local sales tax varies by state.

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Restaurant Revitalization Fund – Details

KROST

Construction of outdoor seating. rent, equipment, supplies, inventory, accounting, training, legal, marketing, insurance, licenses, fees). Create an account. Application decision information or request for further documentation will be sent to the email associated with the Applicant account. Apply Directly through SBA.

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States Feel Budget Pinch Amid Darkening Revenue Projections

CPA Practice

Taxes on bonuses and investment income account for almost 20% of the state’s general fund, according to Lierman. Last month, Washington state slashed its two-year revenue projections by $483 million, blaming lower personal income tax collections and slower residential construction. And Colorado projected a $532.2