TaxConnex

DECEMBER 9, 2021

Wholesalers and manufacturers/distributors have some big advantages regarding sales tax compliance – but they can also have hidden obligations. Sales made through your own website will be subject to sales tax once you’ve established nexus. you are required to collect sales tax from customers based in those locations.

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Manufacturing Sales Tax E-commerce 182

Menzies

MARCH 6, 2024

50m Apprenticeship Growth Sector Pilot The lack of skilled labour impacts on productivity and the competitiveness of the UK manufacturing sector, and with this in mind the £50m Apprenticeship Growth Sector pilot for advanced manufacturing is a positive step. Meet our Manufacturing specialists For more budget commentary click here.

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Manufacturing chartered accountant Education accounting firms 64

CPA Practice

DECEMBER 1, 2023

Under the excluded entity restriction, vehicles are not eligible for the clean vehicle credit if the battery contains battery components manufactured or assembled or applicable critical minerals extracted, processed or recycled by a foreign entity of concern (FEOC).

Manufacturing 122

Manufacturing Tax 122

Cherry Bekaert

APRIL 4, 2024

Listen to us for an insightful webinar where we explore two key energy tax credits: Section 45X Advanced Manufacturing Production Credit (Section 45X) and Section 48C Advanced Energy Project Credit (Section 48C). Do not miss this chance to stay ahead in the competitive landscape of energy tax credits and incentives.

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Manufacturing Tax 52

Accounting Insight

OCTOBER 16, 2023

How can manufacturers navigate the ever-evolving and increasingly complex world of value added tax (VAT)? Both tax and IT must realise that they will need each other for ongoing maintenance and solution expansion initiatives. Learn about compliance solutions built for manufacturers !

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Manufacturing Tax audit Account 59

Withum

APRIL 20, 2023

The R&D tax credit is a tax incentive encouraging companies to invest in research and development activities in the United States. This change benefits many small and medium-sized manufacturers. Alternative simplified credit (ASC) : The ASC is a simplified method for calculating the R&D tax credit.

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Manufacturing Tax payroll tax income tax 75

Menzies

FEBRUARY 13, 2024

Andrew England highlights what we could expect from the Chancellor’s Spring Budget 2024 this year, and what could benefit the Manufacturing sector. Corporation Tax A reduction in the headline rate of corporation tax to support UK business in a challenging economic climate. April 2017?, [RG1]

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Manufacturing corporation tax chartered accountant Tax 52

TaxConnex

AUGUST 29, 2023

Online selling of products and services has always been in the vanguard of sales tax obligations. And of course, states’ thresholds vary widely, as do what products or services each state or tax jurisdiction considers taxable. One industry’s details Take manufacturing for instance. It's not as easy as one would think.

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Sales E-commerce Tax Manufacturing 130

Cherry Bekaert

MAY 12, 2023

Manufacturers now bear increased costs while still being saddled with outstanding debt. middle- and small-market manufacturers do not have the time or ability to reassess supply chain optimality. manufacturing industry overcome these supply chain challenges and potentially cut costs at the same time? Today’s U.S. Along the U.S.-Mexico

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Manufacturing Transportation income tax Tax 98

Withum

JULY 6, 2023

Gain a clear understanding of the criteria that must be met for manufacturers to benefit from the Clean Vehicle Tax Credit. What are the requirements for manufacturers to be qualified for the new clean vehicle credit? Who is considered a qualified manufacturer? What information must be included in the written report?

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Manufacturing Tax Sports Retail 52

Cherry Bekaert

JANUARY 5, 2024

Those were the key points shared by manufacturing leaders from both the supply and demand side of the energy equation, who spoke at a session about operations and sustainability during Cherry Bekaert’s 2023 Modernizing Manufacturing Symposium. The company is currently looking into manufacturing its own electricity.

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Manufacturing Tax Government Technology 72

CPA Practice

DECEMBER 19, 2023

Firearms and ammunition are already subject to New York sales tax. If New York State Senate Bill 7733 is enacted, it will place an additional excise tax on the sale of firearms and ammunition in the Empire State. SB 7733 would impose an excise tax on licensed dealers in firearms, firearms manufacturers, and sellers of ammunition.

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New York Tax Manufacturing tax return 133

Menzies

NOVEMBER 30, 2023

If you are in the manufacturing sector, there is no escaping ESG (Environmental, Social and Governance). Manufacturing is responsible for 10-15% of the UK’s GHG emissions (Greenhouse gases), which necessitates significant environmental responsibility for the sector. Menzies LLP - A leading chartered accountancy firm.

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Manufacturing chartered accountant Government Tax 59

Withum

JANUARY 24, 2024

The R&D Tax Credit is a tax incentive that can be applied as a dollar-for-dollar offset against a company’s tax liability if they engage in activities related to the design and development of a product, process, formula, invention, software, or technique within the United States.

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Tax Manufacturing payroll tax payroll 121

TaxConnex

AUGUST 11, 2022

A few recent developments – including scams and fine definitions –across the country show how sales tax compliance can be complicated. New York: An appeals court ruled last month against a company that claimed eligibility for sales tax refunds on several purchases of concrete. Ecommerce and sales tax cybercrime is on the rise.

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Sales Tax North Carolina Pennsylvania 130

CTP

DECEMBER 28, 2023

in foreign markets, you may want to introduce this lucrative tax incentive: the interest charge domestic international sales corporation, more commonly known as the “IC-DISC.” The benefit of creating an IC-DISC is that some or all of the taxable income from export sales will be taxed at a lower rate—namely, the qualified dividend rate.

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Tax Manufacturing Agriculture income tax 111

MyIRSRelief

MAY 22, 2023

Chicago, Illinois is home to numerous businesses and individuals who may face tax-related challenges such as tax audits, back taxes, and payroll tax problems. The process of resolving tax issues can be overwhelming and stressful for taxpayers, and seeking professional (EA, CPA, Lawyer) tax help can be a wise decision.

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payroll tax payroll audit Tax 147

Menzies

DECEMBER 8, 2023

November’s Autumn Statement earmarked £4.5bn for key manufacturing sectors, and some beneficial changes to tax reliefs and full expensing. However, many food and drink manufacturers, especially SMEs, will have been disappointed to have been left out and will be looking to the Spring Budget for more impactful measures.

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Manufacturing Government Agriculture chartered accountant 52

KROST

MARCH 2, 2021

This is one of the article in the KROST Quarterly Manufacturing Issue , titled “Relief Comes in the Form of R&D Tax Credits for Manufacturing Companies” by Guest Contributor, Michael Maroney. Read the full Manufacturing Issue ». Learn more about KROST’s R&D Tax Credit Service ». Source: 1 [link].

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Manufacturing Tax Pharmaceutical accounting and finance 80

Withum

MARCH 12, 2024

The cannabis tax community is abuzz with rumor and delight. The giddiness stems from a recent announcement by a publicly traded cannabis company that it obtained large tax refunds from the IRS, even though the company has been tightlipped about the reason for the refunds. This argument is misplaced.

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Tax tax return Legal Manufacturing 119

Accounting Today

JANUARY 2, 2024

The new rules exclude from the tax credit vehicles that use battery components made by Chinese manufacturers. Narrower criteria reduced the number of qualifying models from about two dozen.

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Tax Manufacturing 126

Menzies

NOVEMBER 24, 2023

Menzies’ accountancy and strategic advisory experts shares a summary of the main points relating to the manufacturing sector: Specific investment towards the manufacturing sectors: £4.5bn support over the next five years: The Chancellor announced a further £4.5bn funding for strategic manufacturing sectors for five years from 2025.

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Manufacturing chartered accountant Construction accounting and finance 59

CPA Practice

OCTOBER 12, 2023

Retail sales of guns and ammunition will soon be subject to a new state excise tax in California. Under Assembly Bill 28, which Governor Gavin Newsom signed into law on September 26, 2023, an 11% tax will apply to gross receipts from retail sales of ammunition, firearms, and firearm precursor parts starting July 1, 2024.

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California Sales Tax Pennsylvania 125

TaxConnex

JANUARY 12, 2023

It’s a fair bet, then, that sooner or later you’re going to be selling online into Puerto Rico, which has a sales tax. state with a sales tax has economic nexus thresholds – does Puerto Rico? Such companies must register with the Puerto Rico Department of Treasury and collect and remit Puerto Rico sales tax. Nexus for two years.

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Sales Tax Real Estate Manufacturing 130

Cherry Bekaert

APRIL 10, 2023

Contributor: Nick Cousino, CPA, Senior Manager, State Tax Credits & Incentives Advisory Understanding the Credit Transfer Provisions To remain competitive against other states and a favorable state for businesses to operate in, Georgia has offered a Manufacturing Investment Tax Credit.

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Manufacturing Georgia Tax payroll 40

CPA Practice

NOVEMBER 2, 2023

One of the topics the minds of many tax and accounting professionals is the environment. The Inflation Reduction Act of 2022 (Act) was visioned to encourage clean energy solutions, manufacturing, and innovation. In addition, tax incentives are a primary tool in the Act to encourage energy innovation.

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Tax North Carolina Agriculture cpas 116

TaxConnex

JANUARY 26, 2023

There’s always something changing in the world of tax, especially sales tax. Gary Bingel, partner-in-charge for state and local taxes in accounting firm EisnerAmper’s State and Local Tax National Tax Group, made several predictions for 2023 in sales and other taxes. Crystal ball time. Oneida, N.Y.,

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Sales Tax Arkansas Missouri 130

Cherry Bekaert

AUGUST 10, 2023

How to Nearshore Your Supply Chain While Capturing Financial Gains and Avoiding Tax Pitfalls Modern supply chains have grown increasingly layered as they account for separate continental end markets, manufacturing facilities and scarce raw materials spread across multiple geographies.

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Finance Tax Manufacturing Legal 98

Withum

NOVEMBER 8, 2022

Governor Murphy announced the development of a pilot program to give New Jersey manufacturers grants to purchase equipment necessary to improve their business operations on October 17, 2022. For more information on this topic, please contact a member of Withum’s State and Local Tax Services Team. Applicants. Contact Us.

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Manufacturing New Jersey CPA tax services 72

TaxConnex

FEBRUARY 8, 2022

There’s always something changing in the world of tax, especially sales tax. State sales tax revenues and their local portions are reported up from Auburn, N.Y., Many other states are finding more late-2021 sales tax revenue to funnel toward local governments. billion in sales taxes for December, $101.9

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Sales Tennessee Tax Massachusetts 174

Menzies

MARCH 6, 2023

The United Kingdom has long been a hub for manufacturing, with a rich history of industry and innovation. Despite the challenges posed by Brexit and the COVID-19 pandemic, the country remains an attractive destination for manufacturers looking to set up business.

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Manufacturing chartered accountant Transportation Government 40

TaxConnex

FEBRUARY 7, 2023

Findings from the third annual Sales Tax Market Survey indicate that a perfect storm is brewing for financial leaders in the new year. Companies still struggle to navigate workforce shortages and retention of internal expertise, yet they remain highly dependent on in-house resources to perform many of the vital functions related to sales tax.

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Sales Tax audit Construction 171

TaxConnex

JUNE 9, 2022

What’s new in May for state sales and use taxes. There’s always something changing in the world of tax, especially sales tax. Exempting groceries from sales tax as American families struggle with inflation and other economic woes is politically tempting. million in taxes a year on the sale of groceries.

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Sales Tax Colorado Massachusetts 193

Cherry Bekaert

JANUARY 10, 2024

Additionally, the IRS opened access to the pre-filing registration tool for taxpayers and tax-exempt entities looking to monetize IRA and Creating Helpful Incentives to Produce Semiconductors (CHIPS) Act related eligible tax credits. The tax credit is effective for sales that take place after December 31, 2022. per kilogram.

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Tax Manufacturing income tax tax return 101

Menzies

JANUARY 7, 2024

Have you considered tax structuring and the impact of an acquisition on your existing tax profile? For example, could this result in accelerated tax cash outflows under the quarterly instalment regime or impact on ability to claim R&D relief under the SME scheme? Due diligence – do you really know what you’re buying?

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Manufacturing accounting and finance chartered accountant Tax 52

TaxConnex

APRIL 13, 2023

Our third annual survey of financial professionals across accounting, manufacturing, construction, software and technology, retail/eCommerce, telecom and others showed that many industries face sales tax challenges and that financial leaders continue to lean on internal resources to get the job done. What’s keeping them up at night?

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Sales Tax tax return audit 130

TaxConnex

JULY 19, 2022

Sales tax obligations are among them. Only now are federal lawmakers beginning to wonder if the current sales tax landscape overburdens online businesses. In the meantime, your business may have to start collecting and remitting states’ sales tax – with severe penalties if you don’t. What do you need to know? The back story.

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South Dakota Sales Tax tax consultant 214