Posted in State & Local Strategies, Nexus, Property and Other State/Local Tax Issues

Polar Vortexes and November Blizzards – Time to Winterize Your Multistate Tax Machine

It is not even Thanksgiving, but already as the news reported yesterday, US braces for more icy temperatures and snow as ferocious storm lingers.  Many years ago I adopted an approach for dealing with Northeast winters.  My approach centered around assessment, preparation and planning.  I called it “winterizing.” My son…

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Posted in Accounting & Auditing

Timing Business Income and Expenses to Your Tax Advantage

Typically, it’s better to defer tax. Here are two timing strategies that can help businesses do this: 1. Defer income to next year. If your business uses the cash method of accounting, you can defer billing for your products or services. Or, if you use the accrual method, you can delay shipping products or delivering…

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Posted in State & Local Strategies, Personal Income Tax

In Search of a New Jersey Gross Income Tax Treasure – Don’t Forget the Alternative Business Calculation Adjustment

Searching for opportunities to reduce our clients’ New Jersey Gross Income Tax costs in the midst of the closing days of our 2014 tax busy season, we revisited one of New Jersey’s relatively recent legislative changes – the Alternative Business Calculation Adjustment. The inability to offset income and losses occurring in different business categories…

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Posted in State & Local Strategies, Sales and Use Tax

Must Reads For Your Summer Leisure – New York Hits The Shore With A Wave of Sales Tax Bulletins and Advisories

Each year the joy of Summer seems to more quickly pass into the demands of the Fall.  Perhaps your summer, like mine, is a coveted time to catch up on non-technical reading.  However, last week the New York State Department of Taxation and Finance issued approximately 15 Sales Tax Technical Bulletins and several Technical…

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

2014 Multistate Tax Road Trip – New Jersey Budget May Create Tax Traffic Headaches for Multistate Taxpayers

New Jersey’s Fiscal 2015 Budget, signed by Governor Chris Christie on June 30, 2014, includes Assembly Bill 3486 which contains tax provisions that may increase multistate taxpayers’ New Jersey income taxes.  In addition, the bill includes “click-through” nexus provisions that may impose New Jersey sales tax nexus upon non-New Jersey…

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

2014 Multistate Tax Road Trip – Detour – New York Issues Nonresident Audit Guidelines with Comments on Gaied Decision

As I was finalizing some research addressing a New York nonresident issue, I was pleasantly surprised to discover that the State of New York Department of Taxation and Finance just issued its 2014 Nonresident Audit Guidelines. It appears that these revised guidelines incorporate the State’s view of the ramifications arising from the  recent…

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

2014 Multistate Tax Road Trip – Setting Out On The Dynamic Highway Known As State Tax Nexus – Some Basics For the Nexus Entrance Ramp Discussion

As we launch our 2014 Multistate Tax Road Trip, we will stop periodically at areas that despite their familiarity still warrant our time and attention. Today, we will visit with the concept of nexus. Even in 2014, state tax nexus continues to be a lightning rod for discussion, controversy and concern. Let’s begin our journey with a brief…

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