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Breaking News: Federal Court Ruled Corporate Transparency Act Unconstitutional – Beneficial Ownership Information Reporting on Hold

Withum

By way of background, the CTA was enacted on January 1, 2021 as part of the 2021 National Defense Authorization Act as an attempt to prevent money laundering and tax evasion by requiring new reporting for certain companies doing business in the US. Stay tuned for further developments as they arise.

Ohio 140
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Dean Dorton and VonLehman to Combine on Jan. 1

CPA Practice

The firm will operate as Dean Dorton and provide accounting, business advisory, and professional services to clients from offices in North Carolina, Indiana, Ohio, and Kentucky. Established in 1946, VonLehman is a full-service CPA and business advisory firm with offices in Kentucky, Ohio, and Indiana.

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Taxation of services

TaxConnex

Services continue to pop up among states’ lawmakers as a potential new source of sales tax revenue. Consumption of many personal services, such as cosmetic and beauty services, fitness, pet grooming, veterinary services and landscaping, among others, skews towards the higher end of the income scale.

Indiana 188
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The latest on sales tax on shipping charges (part 1)

TaxConnex

A mixed package incurs sales tax on the portion of shipping equal to that portion of the package that is taxable goods: This occurs in Arkansas, Minnesota, Nebraska, New York, North Carolina and Rhode Island. In New Jersey and Ohio, if you fail to allocate portions of taxable versus exempt, the shipping on your whole shipment becomes taxable.

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What's new in May for state sales and use taxes

TaxConnex

Exclusions include sales of the services in fulfillment of a lump-sum, fixed-fee contract, or a fixed-price sales contract executed on or before Feb. For gross receipts from the sale of newly taxed services prior to Jan. 1, 2023, if the gross receipts were less than $6,000 during calendar year 2021, the services are exempt.

Sales 193
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Sales Tax on Shipping: When Does it Apply?

TaxConnex

Shipping is not taxed in Nevada, but handling is. When only some of the contents of a shipment are taxable, the shipping charges must be pro-rated in Minnesota, New Jersey, North Carolina, North Dakota, Ohio, Rhode Island, South Dakota, Vermont, Washington and Wisconsin (where a “reasonable allocation” is required).

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What's new in state sales and use taxes

TaxConnex

There may still be changes to Mississippi’s sales tax on software, as the Governor?has has greenlighted studying the state’s taxation of remote and internet-based computer software products and services. Ohio revised its sales and use tax rule to add certain exempt construction contractor purchases.

Sales 178