article thumbnail

IRS Extends Tax Deadlines for Victims of Oklahoma Wildfires

CPA Practice

Those impacted by the wildfires that destroyed at least 530 homes and businesses in parts of Oklahoma last March will now have until Nov. 3, 2025, to file various federal individual and business tax returns and make tax payments.

article thumbnail

Oklahoma Taxpayers Get Extended Deadline Due to Storms

CPA Practice

The Internal Revenue Service is providing a tax relief extension for individuals and businesses in Oklahoma that were affected by severe storms, straight-line winds, tornadoes, and flooding that began on May 19, 2024. 1, 2024, to file various federal individual and business tax returns and make tax payments.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

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

TaxConnex

Mississippi specified that its exemption for health care facilities paying sales tax on construction materials and machinery and equipment purchased within three months of completion of construction does not include medical marijuana establishments. Oklahoma now provides an exemption to nonprofits dedicated to disaster recovery.

article thumbnail

Trendspotting: Top Ten Payroll Issues of State Legislatures

ThomsonReuters

These states include: Arizona ( House Bill 2130 ) Hawaii ( Senate Bill 360 and House Bill 490 ) Indiana ( House Bill 1243 ) Iowa ( Senate Bill 95 ) Minnesota ( Senate Bill 2 ) Mississippi ( Senate Bill 2286 ) Nebraska ( LB 57 ) North Dakota ( House Bill 1460 ) Oklahoma has two measures. The state has two proposals.

article thumbnail

Congress Mandates that Marketplaces Monitor High-Volume Sellers

CPA Practice

Marketplace facilitators are being required to monitor and vet high-volume marketplace sellers in a growing number of states, including Arkansas , California , and Oklahoma. By Gail Cole.

article thumbnail

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

inDinero Tax Tips

The Delaware Division of Corporations offers electronic (in-person is suspended during the COVID-19 emergency) submission of business entity documents between the hours of 7:45 a.m. Delaware does tax companies. A franchise tax is a charge by states on corporations to conduct business in their state. and 11:59 p.m.

article thumbnail

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.