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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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Trendspotting: Top Ten Payroll Issues of State Legislatures

ThomsonReuters

States eye workforce as a legislative priority for payroll The majority of state legislatures began their legislative sessions this January. A flurry of bills is being proposed in the payroll space — many having to do labor and employment. New Mexico. House 28 proposes to index its state minimum wage for inflation.

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Last Week in Payroll: Summertime Tax Tips

ThomsonReuters

Summertime Tax Tips. Let’s go over a few summertime tax tips for payroll professionals this season: 1) Interns. Biden Administration issues tax proposals “Green Book.” Also, 12 U.S. Department of Labor enforcement.

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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. Three other states—Nevada, Oregon, and Wyoming—decided to make incorporation in their state more appealing. Delaware does tax companies. With so few taxes, how does Delaware rake it in?

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Business Owners’ ERC Payouts Could Take Up to 160 Days, IRS Says

CPA Practice

TNS) A backlog of claims for the employee retention credit (ERC) has piled up before the IRS, as business owners seek out the retroactive tax credit. While it was billed as a lifeline for some companies, the reality is that businesses are waiting months for these credits because of the excessive backlogs pummeling the IRS.