Articles

MWE written articles.

Posted in State & Local Strategies, Corporate Income Tax, Nexus, Personal Income Tax, Sales and Use Tax

States’ Record High Tax Years Beat the Miami Heat To Three-Peat Heaven – What That Could Mean for Multistate Taxpayers

According to the U.S. Census Bureau, state government tax coffers are overflowing. They rose for the third consecutive year to $846.2 billion in 2013, with total state tax revenues increasing by 6.1% over the year before. It’s a safe bet to say states are pleased with their progress and will use every tool in their…

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Posted in State & Local Strategies, Corporate Income Tax, Nexus

New York State Tax “Climate Change” – Higher Taxes Forecast for Multistate Taxpayers

When Governor Cuomo signed New York State’s FY 2014-15 executive budget into law last month, he ushered in sweeping changes to New York’s tax provisions – including some which may increase taxes for Multistate taxpayers. The budget contains several provisions that may benefit multistate taxpayers, especially those who qualify as manufacturers. …

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Posted in State & Local Strategies, Nexus, Sales and Use Tax

Data Mining and Multistate Taxpayers – Welcome to the 21st Century

As budget demands for more revenue intensifies, states are employing sophisticated technology to boost tax dollars –a move which has significant implications for multistate taxpayers. States are increasingly using data mining software to examine current taxpayers, discover new taxpayers, verify taxpayer data, and identify taxpayer inconsistencies.  Coupled with the states’ adoption of aggressive nexus…

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Posted in Articles

Planning a Like-Kind Exchange of a Leasehold Interest in Real Estate

by: Mike Rosenberg, CPA, Retired Partner   The tax and financial benefits of like-kind exchanges of real estate are well known to property owners. A properly structured like-kind exchange allows a seller of property to defer gain recognition on the sale of and invest pre-tax dollars into a larger portfolio of assets. Among the various requirements…

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Posted in State & Local Strategies, Nexus, Sales and Use Tax

Is Your Company Determining Its Sales Tax Rate Correctly? Origin vs. Destination Rate Sourcing –The Reason Why Your Company Has Nexus In A State Matters

Understanding the sales tax rate sourcing provisions for states in which you have sales tax nexus is critical in determining the correct sales tax on a transaction.  If you don’t, you could end up charging and collecting the wrong sales tax rate. In general, states employ two sourcing methods, origin and destination.  In states that…

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Posted in State & Local Strategies, Nexus, Sales and Use Tax

The Marketplace Fairness Act Hearings Highlight Diverse Solutions. Is the MFA The Answer to The Wrong Question?

On Wednesday, March 12, 2014, the House Judiciary Committee held hearings on Exploring Alternative Solutions on the Internet Sales Tax Issue.  The Hearings shed new light on the breadth and diversity of the sales tax issues arising from the MFA’s attempt to remedy state tax revenue shortfalls from the retail e-commerce…

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Posted in State & Local Strategies, Nexus, Sales and Use Tax

The Marketplace Fairness Act Hearings – Why They Should Be On Your Radar

Since the Marketplace Fairness Act may expand any business’ sales and use tax registration, collection and remittance requirements into many additional states, every business, not only e-commerce retailers, should keenly monitor the MFA Hearings scheduled for this week in the House. Recently the House Judiciary Committee rescheduled its hearings on Read More

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