Contract Manufacturers: Take Advantage of R&D Tax Credits for Manufacturing
Learn What Activities May Qualify for Significant Tax Savings. Calculating the Research and Experimentation Tax Credit (RTC) under IRC §41 allows taxpayers engaged in qualified Research...
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California Adopts Economic Nexus, But Threshold Uncertain
On Tuesday, the California Department of Tax and Fee Administration announced that beginning April 1, 2019, California will require out-of-state retailers to collect and remit use...
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The Top Sales Tax Traps for Restaurants
The restaurant industry is at the top of many state sales tax auditors target lists. With a history of underreporting cash sales, state auditors have developed...
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Treasury Releases Proposed Regulations for Opportunity Zones
On October 19, 2018 the Department of Treasury issued proposed regulations for Opportunity Zone Investors and has sent these rules over to the IRS. The proposed...
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Wayfair State Sales Tax Update
While CPAs have been enjoying their summer and taking long vacations, states have been busy at work asserting their positions regarding the impact of South Dakota...
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Michigan Announces Economic Nexus – And Gets It Right
On August 2nd, Michigan released a Revenue Administrative Bulletin (RAB 2018-16) that addresses sales & use tax nexus standards for remote sellers. Most of the language...
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Maryland Issues Vague Guidance on Wayfair
Maryland is now the most recent state to issue a Tax Alert regarding South Dakota V Wayfair, and it’s the vaguest guidance issued to date by...
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Computing the R&D Tax Credit for the Software Industry
What is the R&D Tax Credit Software companies have traditionally qualified for the R&D Tax Credit against income tax. However, many software companies are not taxable...
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Wisconsin First State Without Economic Nexus Law to Apply Remote Seller “Rule”
Within 24 hours of Alabama’s announcement regarding its enforcement date of 10/1/2018 regarding its economic nexus law, Wisconsin became the first state without an economic nexus...
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