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

TaxConnex

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. Sales taxes have become less neutral, less equitable, and less economically efficient over time,” the Foundation said.

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Property tax 101

ThomsonReuters

Accountants who help clients effectively manage property taxes can further strengthen their role as a trusted advisor. As a significant source of state and local revenue in the United States, the importance of property taxes is not to be underestimated. Thirty-six states levy TPP taxes on machinery and equipment.

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