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What New York-Based Tech Companies Should Know About QETC Filings

Shay CPA

The state of New York offers some serious tax perks for tech startups operating within its borders. Specifically, if you can get certified as a qualified emerging tech company (QETC), you and your investors can claim some meaningful credits to lower your tax liability. in 2021.

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Shutting Down a Tech Company – Some Tax/Accounting Tips

Shay CPA

Specifically, you should look at: Payroll accounts, including withholding, Department of Labor, and state unemployment insurance accounts. Sales tax accounts. State franchise and income tax accounts. New Jersey. New York (and New York City, in particular). Washington.

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What exactly is indirect tax?

ThomsonReuters

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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2022 Year-End Tax Planning Checklist

Withum

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.