How Businesses Should Be Preparing for Changes in State Tax Laws in 2020 and Beyond

Exposure to state tax has been steadily increasing in recent months. From the Wayfair Supreme Court case in 2018 to mounting financial pressures from COVID-19, states are looking at all options to collect revenue they are entitled to.

$10,000 SALT Cap Continues to Receive Attention

One of the little-known provisions of the House of Representatives’ HEROES Act could have big impacts for high-income taxpayers and small businesses later on as tax policies continue to be reevaluated.

Businesses with $5 Million or More of Gross Receipts Sourced to Washington, D.C. Hit with Ballpark Fee

Many are certainly lamenting that we may not be able to see any baseball this year at Nationals Park. However, the District of Columbia will still be collecting the Ballpark Fee which is coming due June 15, 2020.

2020-05-20T11:45:17-04:00May 20, 2020|Categories: Tax: Business|Tags: , |

State Tax Authorities Issue Special Coronavirus Provisions

Several state tax authorities have announced various relief provisions for businesses and individuals impacted by the Coronavirus.  In many cases, the provisions are an emphasis of relief provisions already available such as extensions to file

Extending the Deadline to Pay but not for Filing

Taxpayers are likely wondering why the federal government is extending the time to pay taxes, but not extending the time to file taxes.   Filing an extension is an easy process and can be done very easily by practitioners electronically through their tax software. 

Businesses Serving Washington, D.C. Hit with Baseball Fee

Washington, D.C. officials helped bring baseball back to the nation’s capital in 2008 by establishing a Baseball Fee. Initially, only businesses with a physical connection to the district had to pay the fee. However, businesses now have to pay it if revenues from services were delivered to customers located there, regardless of where the service was actually performed.

2020-05-06T14:45:31-04:00June 6, 2019|Categories: Tax: Business|Tags: , |

IRS Regulation May Impact Donations for Certain Charities

For many years, states provided incentives for taxpayers to contribute to certain charitable organizations or state sponsored activities by giving a generous credit against state [...]

Supreme Court Ruling Fundamentally Alters Sales Tax

The U.S. Supreme Court has fundamentally altered Wayfair, Inc., and other online retailers’ ability to offer items at a lower cost than their brick and mortar counterparts. States can now require online retailers to collect sales tax from every customer no matter if they have a physical location in the shopper’s state, leaving online consumers to pay more for the items they buy.

2018-08-17T15:00:49-04:00June 28, 2018|Categories: Tax: Business, Tax: State & Local|Tags: , , |

Why You Should Care About Virginia’s Conformity Date Change

Changes to tax law typically impact future returns, but the most recent one issued by the Virginia Department of Taxation will have some Virginians amending their 2017 state tax returns, too.