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Risks of Non-Compliance

TaxConnex

million in sales taxes for services for 2010 through 2018. SSVE and McCabe also evaded income taxes, employee withholding taxes and workers’ compensation payments by underreporting sales and paying workers off the books. SSVE and McCabe admitted their failure to collect and remit the full sales tax.

Alabama 185
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Latest Developments in State and Local Sales Tax

TaxConnex

In Alabama , rising pandemic-related online shopping has been a “life saver” for the state’s municipal governments and a “financial vaccine for Alabama’s counties,” the state said. The state’s SSUT has taken in more than $309 million overall during the current fiscal year – almost double the tax generated during all of fiscal 2018-19.

Sales 228
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5 States with the Lowest Combined Business Taxes

CPA Practice

Some key factors to evaluate include: Tax rates Tax rates vary widely across states. Some states have higher corporate income tax rates, while others offer lower rates or no tax at all. Property tax rates can vary significantly, impacting the cost of owning or leasing business space.

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More Than a Loophole: Delaware Sales Tax and Other Benefits of Incorporation in DE

inDinero Tax Tips

Incorporation is a critical legal matter that impacts more than your company’s tax responsibilities for doing business. Delaware is considered “the place” to establish your corporate entity as there’s no Delaware sales tax. Delaware offers perhaps the most favorable tax treatment to businesses. Historically, in the U.S.,

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

inDinero Accounting

QSBS Rules by State While the QSBS applies universally to federal capital gains taxes, some states still levy capital gains taxes. How much capital gains tax an investor is safe from depends on when the stock was purchased. It may put you at heightened risk of an audit. Sometimes it’s 50%, others 75% or even 100%.

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Shrinking the Delaware Tax Loophole: Other U.S. States to Incorporate Your Business

inDinero Tax Tips

Incorporation is a critical legal matter that impacts more than your company’s tax responsibilities for doing business. To compete for business tax income with New Jersey and New York, Delaware made incorporating within its borders easier for absentee (aka out-of-state) companies and incentivized absentee companies to do so.