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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.

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

inDinero Tax Tips

And there’s no state corporate income tax on goods and services provided by Delaware corporations that operate outside of the state. Delaware holding companies benefit from no corporate tax on interest and other investments. The state also doesn’t impose personal property tax.

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Mastering Form 2553: Unlocking the Benefits of S Corp Tax Election

inDinero Tax Tips

The IRS website provides a helpful chart that indicates which states should send the form to the IRS Center in Kansas City, Missouri, and which states should send it to Ogden, Utah. Chasing supposed tax advantages can come back to bite you if you haven’t consulted with corporate tax expert.

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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?

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

inDinero Tax Tips

The Delaware franchise tax. A franchise tax is a charge by states on corporations to conduct business in their state. Currently, Alabama, Arkansas, Delaware, Georgia, Illinois, Louisiana, Missouri, New York, North Carolina, and Oklahoma have a franchise tax. Your very own Delaware corporate tax calendar.

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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. 3 he would be open to a cut in the state’s 7% grocery tax. Efforts failed in several other states.

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Why Idaho Senator Mike Crapo Largely Controls Bipartisan Tax Bill’s Fate

CPA Practice

(TNS) In a rare show of bipartisan lawmaking, the House of Representatives on Wednesday overwhelmingly passed a bill that would expand the child tax credit for parents and restore a set of tax breaks for businesses, but its fate in the Senate is uncertain. Jason Smith of Missouri.

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