MyIRSRelief
MAY 19, 2023
New York is known for being a hub of commerce, culture, and innovation, attracting businesses and individuals from all over the world. With this bustling economy comes a complex tax system, which can be overwhelming and confusing for many taxpayers. Contact us for tax help today. Contact us for tax help today.
Cherry Bekaert
JULY 14, 2023
More and more states treat software-as-a-service (SaaS) or platform-as-a-service (PaaS), hosting services and other data-processing services as taxable services and subject to sales tax, which shouldn’t be ignored. However, state income tax issues for PTEs generally receive less attention in the technology industry.
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Withum
MAY 4, 2022
Some of the major PTET highlights include amplifying the benefits for resident S corporation shareholders, as well as establishing a New York City PTET. For context, in January 2022, New Jersey revised its PTET, resulting in it being more uniform with New York’s PTET. New York PTET S Corporation Update.
TaxConnex
AUGUST 15, 2023
California has the highest statewide sales tax rate, at 7.25%. The lowest non-zero state-level sales tax is in Colorado, which has a rate of 2.9%. Five states follow with 4% rates: Alabama, Georgia, Hawaii, New York and Wyoming. South Dakota cut its state sales tax rate from 4.5%
CTP
MARCH 30, 2023
In these three related appellate cases, the IRS sought to recharacterize millions of dollars that had been paid as commissions into a domestic international sales corporation (DISC) and then shielded from income tax when the DISC contributed the funds to a Roth IRA. A DISC does not pay tax on commission income up to $10 million.
inDinero Tax Tips
APRIL 11, 2023
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.,
ThomsonReuters
FEBRUARY 6, 2024
for example, does not have a federal sales tax, but taxes may be applied at the state and regional levels. States with the highest average local sales tax rates include Alabama, Louisiana, Colorado, New York, and Oklahoma.
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