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What was new in October for state sales and use taxes

TaxConnex

There’s always something changing in the world of tax, especially sales tax. An Arizona business challenging Louisiana’s remote seller sales tax structure is appealing to the U.S. For tax years beginning on or after Jan. Here’s a review of some of the recent changes and updates. Back to court.

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The New Year Brings Fresh Uncertainty for U.S. Business Tax Professionals

ThomsonReuters

Biden’s corporate tax policy agenda calls for increasing the corporate income tax rate from 21% to 28%, changing the way GILTI is calculated, creating onshoring incentives, and more. Colorado lowered its income tax rate, Arizona passed a high-income surcharge, and Illinois rejected a progressive income tax proposal.

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Taxing the Rich is a Popular Bipartisan Stance, Poll Shows

CPA Practice

The preference for taxing billionaires, which Senator Elizabeth Warren helped popularize during her 2020 presidential campaign, has grown in recent years from a fringe, left-wing wish-list item to a centerpiece of Biden’s economic policy. ©2024 Bloomberg L.P. Visit bloomberg.com. Distributed by Tribune Content Agency LLC.