Withum

APRIL 4, 2022

District Court in Tennessee invalidated IRS Notice 2016-66 (November 2016) , which announced the IRS view that certain micro-captive insurance transactions are transactions of interest (essentially tax shelter transactions) and that they are subject to the special reporting regime applicable to so-called reportable transactions.

Tennessee 64

Tennessee Kentucky Michigan Ohio 64

TaxConnex

JUNE 9, 2022

Exempting groceries from sales tax as American families struggle with inflation and other economic woes is politically tempting. Kansas and Tennessee just became the latest states to green light such exemptions. million in taxes a year on the sale of groceries. Here’s a review of some of the recent changes and updates.

Sales 192

Sales Tax Colorado Massachusetts 192

TaxConnex

JANUARY 24, 2023

In Kentucky, separately stated shipping charges to deliver taxable products to the customer are exempt from tax when shipped to a point specified by the customer and delivered by the postal service or common carrier – but shipping charges are generally taxable if the actual seller of the product makes the delivery.

Sales 26

Sales Tax South Carolina Massachusetts 26