article thumbnail

What’s Hot on Checkpoint for Federal & State Tax Professionals?

ThomsonReuters

In this edition, we take a look at the recently enacted corporate alternative (book) minimum tax; new elections to convert credits to cash or tax payments; changes to the electric vehicle credit; recent legislation in Kansas, Kentucky, and Missouri; and state taxation of forgiven student loans. Not yet a subscriber?

article thumbnail

Some States Are Considering Shelving the Grocery Tax

CPA Practice

Almost all states have seen their budget surpluses grow in the past two years, thanks to federal COVID-19 relief funds and increasing corporate tax revenues as the economy recovers from the pandemic. Grocery taxes that remain are “there for a reason. 3 he would be open to a cut in the state’s 7% grocery tax.

Idaho 111
Insiders

Sign Up for our Newsletter

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

article thumbnail

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

inDinero Tax Tips

Incorporation is a critical legal matter that impacts more than your company’s tax responsibilities for doing business. Delaware is considered “the place” to establish your corporate entity as there’s no Delaware sales tax. Delaware offers perhaps the most favorable tax treatment to businesses. Historically, in the U.S.,

article thumbnail

Deloitte Picks Up an EY Alum As Chief Tax Officer-in-Residence

Going Concern

“Whether directing large corporate tax departments or leading small in-house teams, today’s chief tax officers share common challenges,” said Carrie Falkenhayn, partner, Chief Tax Officer Program leader, Deloitte Tax LLP.

Tax 52
article thumbnail

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. Delaware is considered The Place to establish your corporate entity. Currently, Alabama, Arkansas, Delaware, Georgia, Illinois, Louisiana, Missouri, New York, North Carolina, and Oklahoma have a franchise tax.