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5 States with the Lowest Combined Business Taxes

CPA Practice

One crucial factor to consider when selecting your business location is the tax environment. Business taxes can significantly impact your bottom line and overall profitability. The importance of business taxes As an entrepreneur, you face countless decisions when starting a business.

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IRS Extends Tax Deadline in Three States to Oct. 16 for Taxpayers Impacted By Disasters

CPA Practice

Disaster-area taxpayers in most of California and parts of Alabama and Georgia now have until Oct. 16 to file various federal individual and business tax returns and make tax payments, the IRS said on Feb. The deadline already had been postponed to May 15 for these areas.

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IRS Extends Tax Deadline in Three States to Oct. 16 for Taxpayers Impacted By Disasters

CPA Practice

Disaster-area taxpayers in most of California and parts of Alabama and Georgia now have until Oct. 16 to file various federal individual and business tax returns and make tax payments, the IRS said on Feb. The deadline already had been postponed to May 15 for these areas.

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What was new in October for state sales and use taxes

TaxConnex

The plaintiffs have reportedly said that Louisiana’s patchwork sales tax compliance system is a labyrinth filled with audit traps and now say the case belongs in federal court because Wayfair was ultimately decided in the U.S. The five worst states for business based on sales tax are Alabama, Washington, Louisiana, California and Tennessee.

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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. Table of Contents What is the QSBS Exemption?

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

inDinero Tax Tips

County-level real estate property tax can exist, but it’s typically very low in comparison to property taxes in other states. In addition, the state has no value-added taxes (VATs), use taxes, or an inheritance tax. The amount of franchise tax and how each state calculates the tax varies.

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A Refresher on the Types of Small Business Legal Structures, and Their Benefits

CPA Practice

Partnerships Business taxes are passed through to partners like in a sole proprietorship since there is no legal separation between the owners and the company. The IRS equally taxes all partners who share legal and debt responsibilities.

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