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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. Taxpayers affected will automatically have their accounts adjusted to reflect the abated penalty. Illinois The Illinois Department of Revenue recently issued an Informational Bulletin FY 2024-03.

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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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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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Treasury Dept. Issues Report Card on Programs for Entrepreneurs and Small Businesses

CPA Practice

Earlier this year, Hope Federal Credit Union, based in Mississippi , made a $10,000 small business loan to a Black- and woman-owned organic, fresh-roasted coffee distribution business based in Louisiana to expand operations. In Wichita, Kansas, SSBCI helped fund WorkTorch – a pioneering career platform for service workers.

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

CPA Practice

Minnesota : Shipping and handling charges for taxable items are generally taxable, while shipping and handling charges for exempt items are generally exempt. Mississippi : Charges for the shipping, handling, and delivery of taxable goods are generally subject to Mississippi sales tax. It’s a good rule of thumb.

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