CPA Practice

JULY 28, 2023

While much of this recent regulatory movement has mainly applied to digital and remote sales, ecommerce and marketplace facilitators the question of where, when and how sales and other digital taxes should be applied, indicates that state and local governments are also mining less visible, but foreseeable revenue alleys.

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ThomsonReuters

APRIL 24, 2024

While there are over 20 local jurisdictions with municipal income taxes, he noted that the law does not exclude overtime wages from municipal occupational license tax. Individual state income tax usually follows the federal adjusted income, Wertz said, and the exclusion creates a modification.

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CPA Practice

MAY 1, 2024

However, this does not mean that marijuana will become legal for recreational use nationwide. Of course, this decision has its critics, but it’s worth noting that the change would also impact federal income tax breaks for many cannabis businesses.

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TaxConnex

DECEMBER 29, 2022

The year started with attention on new online products and sales tax – notably in Maryland with its tax on digital advertising. The state imposed a gross receipts tax on digital ads so long as the companies had at least $1 million in advertising revenue within the state for the year. More doubters would pop up later. (In

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TaxConnex

MARCH 2, 2021

In another possibly trendsetting development, Maryland has greenlighted the country’s first tax on digital advertisements sold by companies such as Facebook, Google and Amazon. Estimates reportedly said the tax will generate up to $250 million but opponents promise legal challenges. 20 and April 14 to April 15, 2021.

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CPA Practice

APRIL 12, 2023

27, 2023, providing legal guidance on claims made by the postponed deadline. By missing out on filing a tax return, people stand to lose more than just their refund of taxes withheld or paid during 2019. Many low- and moderate-income workers may be eligible for the Earned Income Tax Credit (EITC).

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CPA Practice

MARCH 8, 2023

Bay Staters with taxable income that exceeds one million dollars are expected to pay 4% more in Massachusetts income tax. Massachusetts recently returned billions in excess revenue to eligible residents through 62F tax refunds. Washington is a state that doesn’t have income taxes.)

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