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

TaxConnex

Voters will likely be asked this fall if they’re willing to increase the city’s 5% sales tax to 6% during the summer in exchange for exempting food from sales tax year-round. Exclusions include sales of the services in fulfillment of a lump-sum, fixed-fee contract, or a fixed-price sales contract executed on or before Feb.

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QSBS Exemption Explained: What Investors and C-Corp Executives Should Know

inDinero Accounting

However, the IRS rules surrounding this tax break are complicated and go beyond what we’ve covered in this article. If you want to dive deeper into this topic, you can connect with one of the experts on our business tax services team. How much capital gains tax an investor is safe from depends on when the stock was purchased.