Withum

MAY 4, 2022

New York’s fiscal year 2023 budget bill that was enacted into law significantly expands the benefits of the state’s pass-through entity tax (“PTET”) for many businesses. Some of the major PTET highlights include amplifying the benefits for resident S corporation shareholders, as well as establishing a New York City PTET.

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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% Income we trust.

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Shay CPA

DECEMBER 7, 2022

New Jersey. New York (and New York City, in particular). Don’t assume you’re off the hook until you have written confirmation from the appropriate authorities that your tax accounts are shut. . File a final corporate tax return. You’re not filing just another tax return here. Washington.

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CTP

MARCH 30, 2023

The father and mother lived in New York and their two sons lived in Massachusetts. A DISC does not pay tax on commission income up to $10 million. IF the DISC distributes money to shareholders, then it is subject to corporate tax. The two Benenson sons each set up a Roth IRA and made a small contribution to it.

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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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Going Concern

OCTOBER 1, 2022

Years-long trend of consolidation reaches city’s largest accounting firms [ Crain’s New York Business — subscription ]. Known for their high-end tax services, TPC is especially strong in corporate tax, serving public and private enterprises. This complements Baker Tilly’s strong corporate tax talent.

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Going Concern

DECEMBER 15, 2023

The survey of corporate tax and auditing professionals, conducted by OnePoll, revealed 83 percent of respondents are aware of AI in their workplace, and 79 percent of those say it’s beneficial to have AI assist them with their job. Last year ended with KPMG’s 456,518-square-foot deal at 2 Manhattan West clinching the No.

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Cherry Bekaert

JULY 14, 2023

In New York for example, partnerships follow personal income tax rules, not the corporate tax rules for apportionment. Taxpayers must take note of these distinctions for state compliance purposes.

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Accounting Insight

MARCH 3, 2023

And governments around the world – 136, to date – have also already agreed to adopt the 15% minimum corporate tax. These are all seismic changes that will bring a need for new reporting capabilities, a new set of corporate tax penalties to navigate, and a new standard for auditing.

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PYMNTS

JANUARY 18, 2021

This week's B2B Data Digest takes a look at the numbers behind the latest instances of fraud, including fraudulent invoices, corporate tax scams and more. $19 Reports in Boss Hunting said two brothers based in New York are accused of committing fraud with the eCommerce conglomerate by posing as a legitimate B2B wholesaler.

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inDinero Tax Tips

APRIL 11, 2023

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.

Delaware 52

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ThomsonReuters

DECEMBER 17, 2021

The Global Minimum Tax is the latest initiative spinning off of the Base Erosion and Profit Shifting (BEPS) initiative from the Organisation for Economic Co-operation and Development (OECD). In a recent report for Checkpoint , Robert Rizzi, a tax partner with Steptoe & Johnson LLP in Washington and New York, noted that U.S.

Tax 52

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PYMNTS

JULY 26, 2018

corporations from remaining optimistic, according to the New York Times. Reports this week highlighted the National Federation of Independent Business’s (NFIB) latest optimism index, which recently reached new highs. The White House’s corporate tax cuts, however, are boosting earnings and bumping up ROIs.

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PYMNTS

JANUARY 9, 2019

That’s after a record high for the Index of 108.8 last August.

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Accounting Today

JANUARY 19, 2024

The city cites corporation business tax "deficiencies" for 2017 through 2021 and is also seeking interest and penalties from the failed bank.

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inDinero Tax Tips

APRIL 20, 2021

The Delaware Division of Corporations offers electronic (in-person is suspended during the COVID-19 emergency) submission of business entity documents between the hours of 7:45 a.m. Delaware does tax companies. The Delaware franchise tax. A franchise tax is a charge by states on corporations to conduct business in their state.

Delaware 64

Delaware Wyoming Nevada Oregon 64

ThomsonReuters

MARCH 18, 2021

Biden Tax Policies Take Center Stage: What to Expect in 2021 and Beyond. Entering a New Era: The Future of Corporate Tax Management. Dissecting the Fast Pace of Digital Transformation and Its Tax Implications podcast. . [1] Do More with More?

Tax 98

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Withum

NOVEMBER 17, 2022

Several states have passed legislation to circumvent the $10,000 state and local tax (SALT) deduction limitation (29 states in total including NJ and NY). In addition, New York City is allowing eligible entities to circumvent the SALT deduction limitation for taxable years beginning on or after January 1, 2022. Energy credits.

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Going Concern

JANUARY 2, 2023

Before I wrap this up I want to call attention to a New York Times article from August that we meant to get to earlier in the year but never did. What’s more, Mr. Jones does not appear to be fan of the minimum corporate tax. Last year, he said in a speech that he was against basing a minimum corporate tax on book income.

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Going Concern

AUGUST 5, 2022

Meet the accountants who may become the new power brokers of taxes. [ public company accounting regulator will not accept any restrictions on its access to the audit papers of Chinese companies listed in New York, its chair said on Monday, confirming a Reuters story published last week. New York Times ] Charles P.

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Going Concern

JANUARY 27, 2023

KPMG POISED TO CAPITALIZE ON INCREASED DEMAND FOR OUTSOURCING CORPORATE TAX DEPARTMENTS [ PR Newswire ] ONLY POSTING THIS BECAUSE THE ALL CAPS IS FUNNY. We pray that one day we will again see the New York that nurtured the love that Michelle had for life. Collins left the ‘big four’ firm in October 2022.

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PYMNTS

NOVEMBER 24, 2017

According to news from Reuters , strong business investment and tightening labor market conditions likely mean the Federal Reserve will raise interest rates next month. Core capital goods shipments have been increasing since February, partly due to expectations that Republicans will push through hefty corporate tax cuts.

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PYMNTS

JULY 2, 2018

With Chief Justice Anthony Kennedy announcing retirement plans, and with expectations for President Donald Trump to appoint a conservative justice to fill Kennedy’s spot, analysts expect the Supreme Court lineup to continue to favor corporate litigants. According to reports, business investment was up 3.6

Minnesota 40

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PYMNTS

JANUARY 19, 2017

Though the Commonwealth of Puerto Rico remains in a fiscal crisis — burdened with more than $70 billion of debt and a cut to corporate tax breaks — Puerto Rican officials are looking to technology and entrepreneurship as part of a new economic development plan, TechCrunch reported.

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CPA Practice

MARCH 9, 2023

Medicare tax rate proposed increase To help shore up Medicare, President Biden is proposing a tax increase for people making more than $400,000 a year. Note: Several states have proposed so-called “wealth taxes” and Massachusetts enacted a “millionaires tax” this year. Distributed by Tribune Content Agency LLC

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CPA Practice

MARCH 15, 2023

Medicare tax rate proposed increase To help shore up Medicare, President Biden is proposing a tax increase for people making more than $400,000 a year. Note: Several states have proposed so-called “wealth taxes” and Massachusetts enacted a “millionaires tax” this year. Distributed by Tribune Content Agency LLC

Tax 98

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PYMNTS

NOVEMBER 3, 2017

The GOP released its tax plan Thursday (Nov. 2), offering a glimpse into its Tax Cuts and Jobs Act that includes plans for corporate taxes. According to reports in The New York Times , Republican tax reform efforts would impose a minimum global tax of 10 percent for American multinational corporations.

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CPA Practice

JANUARY 12, 2024

We were not going to do any deal on the corporate tax cuts without doing something meaningful on the child tax credit. The issue has become especially salient for vulnerable Republicans in blue states like California, New York and New Jersey. Mike Lawler, R-N.Y., Majority Leader Charles E.

Tax 98

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CPA Practice

JANUARY 23, 2023

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. States and localities sometimes struggle with which foods to exempt from tax. Efforts failed in several other states.

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CPA Practice

MARCH 26, 2024

The preference for taxing billionaires, which Senator Elizabeth Warren helped popularize during her 2020 presidential campaign, has grown in recent years from a fringe, left-wing wish-list item to a centerpiece of Biden’s economic policy.

North Carolina 69

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PYMNTS

NOVEMBER 18, 2020

But as The New York Times reported , with what Biden has termed a “dark winter” ahead shaped by the pandemic, he has stated that an economic stimulus package is necessary — targeting payouts to individuals, businesses and local governments.

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