article thumbnail

What’s new in sales tax?

TaxConnex

There’s always something changing in the world of tax, especially sales tax. Midyear sales tax. The Tax Foundation released its “State and Local Sales Tax Rates, Midyear 2023” report of the 45 states (and the District of Columbia) that collect statewide sales taxes and the 38 states where local sales taxes are collected.

Sales 130
article thumbnail

California Main Street Small Business Tax Credit II Begins 11/1/21

RogerRossmeisl

California Assembly Bill No. 50 (AB-50) established the California Main Street Small Business Tax Credit II, which will provide COVID-19 financial relief to qualified small business employers. Qualified small businesses will be able to offset either their income taxes or their sales and use taxes with the credit when filing their.

Maine 230
Insiders

Sign Up for our Newsletter

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

article thumbnail

California Small Business Hiring Credit FAQs

RogerRossmeisl

The California Legislature passed, and the governor signed, Senate Bill 1447 (click here for FTB Bill Analysis) into law creating a new small business hiring credit (SBHC) for small businesses impacted by economic disturbances in 2020. The post California Small Business Hiring Credit FAQs appeared first on Roger Rossmeisl, CPA.

article thumbnail

Friday Footnotes: The Metaverse’s First CPA Firm Gets Sued; CPA Exam Blueprints; Mad Mergers | 1.6.23

Going Concern

California Program Offers Black Students Path to Accounting [ Bloomberg Tax ]. Black students in California can prepare for and take the certified public accountant or certified management accountant exam for free under a pilot program that aims to help diversify the accounting profession. appeared first on Going Concern.

article thumbnail

CDTFA Releases Updated Pub 34, Motor Vehicle Dealers

RogerRossmeisl

The California Department of Tax and Fee Administration (CDTFA) has updated Publication 34 (Motor Vehicle Dealers), to include 2020 legislation that, effective 1/1/2021, imposes new reporting and payments requirements on certain used vehicle dealers.

article thumbnail

Private Equity 2023 Year-in-Review and 2024 Outlook: Clearer Skies Emerge for Private Equity Amidst Challenges

Cherry Bekaert

However, the delayed impact of recycling sale proceeds into new investments and new funds likely will not be fully realized for several more years. Carbon reporting suddenly is a “checklist item” for new funds by large investors, mandatory for UN PRI membership, and forced by the State of California and the U.S. Federal government.

article thumbnail

Management Fees, It’s Time To Review

KROST

As of 2021, typical management fees range from one (1%) to six (6%) percent of gross sales. It’s an important distinction to calculate the fees off gross sales as opposed to net sales. Gross sales are typically defined as sales that include comps and sales tax.