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State Pass-Through Entity Tax Updates: September 2023

Cherry Bekaert

These can be filed online through a taxpayer’s Revenue Online account beginning September 1, 2023, and until June 30, 2024. Illinois The Illinois Department of Revenue recently issued an Informational Bulletin FY 2024-03. Taxpayers affected will automatically have their accounts adjusted to reflect the abated penalty.

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AICPA Recognizes Top 2022 CPA Exam Performers with Elijah Watt Sells Award

CPA Practice

Victoria Saravia Bazoberry (New York), a graduate of the University of Notre Dame with a Bachelor of Business Administration in accountancy, is employed with KPMG LLP in New York, NY. Sells, one of the first CPAs in the U.S., was active in the establishment of the AICPA and played a key role in advancing education within the profession.

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AICPA News – June 2023

CPA Practice

AICPA & CIMA Now Offers New Learning Tools for Accounting Professionals The AICPA & CIMA recently announced the offering of anew online learning platform to help accounting and finance professionals improve and update their skills to take advantage of a digital accelerating business environment.

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The Benefits of Delayed Business Filings

CPA Practice

Timing is Everything In the complex world of small business finance and accounting, the strategic timing of business filings can be a game-changer. In addition, incorporating, of course, establishes their legal separation from the business’s liabilities sooner, which protects their personal finances from the business’s debts.

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Legal analysis: Implications of state tax exclusion of overtime wages for employers and employees

ThomsonReuters

Two state bills from Mississippi ( House Bill 224 ) and Wisconsin ( Assembly Bill 938 ) are dead in the water. We asked Wertz for his thoughts on two particular proposals from Illinois and West Virginia. The bill is currently under review with the House Finance Committee. Pitfalls of state tax proposals. Checkpoint Resources.

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How Small Retailers Can Handle Sales Tax on Shipping: State-by-State Guide

CPA Practice

Illinois : For retail sales, shipping and handling charges for exempt transactions are exempt in Illinois. Mississippi : Charges for the shipping, handling, and delivery of taxable goods are generally subject to Mississippi sales tax. no pickup option is given). It’s a good rule of thumb.

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