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AICPA News – July 2025

CPA Practice

Partnership Tax TRP Remove Treas. 1.6011-18 (Basis Shifting TOI Regulations) from the Income Tax Regulations (26 CFR part 1). Existing regulations contain outdated rules that misrepresent current law.

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The state of the 'Big Beautiful Bill' and more

Accounting Today

There were corporate tax provisions which were permanent, (02:20): And there were the individual and estate provisions, which under that law are scheduled to sunset at the end of this year. So if Congress were to do nothing, just were to do nothing, which we know is not going to happen, but still tax pockets would go back up one to 4%.

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What’s new in sales tax?

TaxConnex

Among highlights: In some cases, local sales taxes exceed state rates. The five states with the highest average combined state and local sales tax rates are Tennessee (9.548%), Louisiana (9.547%), Arkansas (9.44%), Washington (9.4%) and Alabama (9.24%). California has the highest statewide sales tax rate, at 7.25%.

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

inDinero Tax Tips

Partnership entities such as limited partnerships, limited liability corporations, and general partnerships are not required to file an annual report in Delaware, but they do pay a $300 tax annually. The Delaware franchise tax. A franchise tax is a charge by states on corporations to conduct business in their state.

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

inDinero Tax Tips

And there’s no state corporate income tax on goods and services provided by Delaware corporations that operate outside of the state. Delaware holding companies benefit from no corporate tax on interest and other investments. The state also doesn’t impose personal property tax.