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Decanting a Trust: Bringing Flexibility to the Inflexible

Withum

However, thanks to evolving legal frameworks, a process known as trust decanting is offering trustees and beneficiaries a powerful tool to adapt these trusts to changing circumstances. This legal method is referred to as “pouring the asset of one trust to another.” What Is Trust Decanting?

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What’s new in sales tax?

TaxConnex

Minnesota is also considering taxing accounting, legal, brokerage and banking services to individuals. below trend in Nevada to 0.2% Georgia has adopted a rule on digital products, goods and codes for sales and use tax purposes. above trend in Wyoming to 0.2% above in New York, Utah and Mississippi. below in Connecticut.

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Legalization and Taxation of Cannabis

TaxConnex

Legalization of cannabis and how it would be taxed has been a discussion for many years. But as states continue to pass laws legalizing the sale of cannabis, the businesses trying to capitalize on the market are struggling with the complexities of taxation as it differs from other sales. Ever-changing scene nationwide.

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Half a dozen ways to mismanage sales tax | TaxConnex

TaxConnex

Sales tax compliance has many moving parts, not just in the filing but in everything that goes into making sure you stay on the legal side of the jurisdictions where you have sales tax nexus. Commercial activity taxes in Ohio and Nevada are also often missed. Just remember, a lot can go wrong along the way.

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Sales and Use Tax Updates from February

TaxConnex

Estimates reportedly said the tax will generate up to $250 million but opponents promise legal challenges. Nevada has launched a tax amnesty program for businesses and individuals that runs through May 1. O ther states are reportedly pursuing similar efforts. 20 and April 14 to April 15, 2021.

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Navigating Cannabis Tax Compliance, Audits, and Section 280E

MyIRSRelief

The cannabis industry is one of the fastest-growing sectors in the United States, with more states legalizing its use for medicinal and recreational purposes. However, despite state-level legalization, cannabis remains a Schedule I controlled substance under federal law.

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Nevada Lawmaker Trying Again to Kill Federal Excise Tax on Sports Bets

CPA Practice

The quarter percent federal excise tax, also known as the handle tax, "does nothing except penalize legal gaming operators for creating thousands of jobs," said U.S. Rep.Dina Titus, D-Las Vegas.