Posted in Corporate Income Tax, Featured Post, Income and Franchise, Nexus, Personal Income Tax, Property and Other State/Local Tax Issues, Sales and Use Tax, State & Local Strategies, The Bottom Line

No Time for Wayfair Complacency

According to a recent survey of 1,150 accounting professionals, business owners are becoming increasingly more comfortable with the ramifications of Wayfair on their businesses compared to the first half of the year. However, they should not get complacent just yet. Even though the Wayfair ruling was made over a year ago, its continued effects on…

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Posted in Corporate Income Tax, Featured Post, Income and Franchise, Nexus, Personal Income Tax, Property and Other State/Local Tax Issues, Sales and Use Tax, State & Local Strategies, The Bottom Line

Some SALTy Thoughts As We Get Ready For Thanksgiving Day Celebration With Family and Friends

As we approach the 2019 Holiday Season with Thanksgiving Day celebrations next week, the ever thoughtful and provocative tax experts at the Tax Foundation were considerate enough to release their 2020 State Business Tax Climate Index for all to consider. A quick read of the 2020 State…

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Posted in Corporate Income Tax, Featured Post, Income and Franchise, Nexus, Personal Income Tax, Property and Other State/Local Tax Issues, State & Local Strategies

New York Employers: Is the Employer Compensation Expense Tax A Trick or Treat?

In April of this year, New York Governor Cuomo signed the 2018-2019 Fiscal Year budget. The Budget adopted the Employer Compensation Expense Tax (ECET) in an attempt to offset the Tax Cuts and Jobs Act (TCJA) $10,000 state and local tax (SALT) deduction limitation and its potential negative effect on individual…

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

Summer 2018 Comes In With A Sales Tax Heat Wave: U.S. Supreme Court’s Decision in Wayfair Overturns Quill’s Physical Presence Requirement

Earlier today we were welcomed by the arrival of Summer Solstice and the U.S. Supreme Court’s decision in South Dakota v. Wayfair, Inc. et al {“Wayfair”}, that overturned the physical presence requirement established by the Quill Corp. v. North Dakota decision. At issue was the South Dakota…

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Posted in Corporate Income Tax, Featured Post, Income and Franchise, Nexus, Personal Income Tax, Property and Other State/Local Tax Issues, Sales and Use Tax, State & Local Strategies, The Bottom Line

New York State Budget Tax Provisions’ Response to Federal Tax Cuts and Jobs Act

On April 12th Governor Cuomo signed the 2018-2019 Fiscal Year budget (Budget). The Budget contains numerous provisions that address the New York tax ramifications arising from the Tax Cuts and Jobs Act (TCJA) passed by the United States Congress late last year. The Budget’s tax provisions pose significant complexities as well…

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

Anatomy of a Sales Tax VDA: Organizing and strategizing a multi-state Sales Tax Voluntary compliance project – Part 3

by: Raymond Chang, CPA (Part 3 of 3) In part one of this series, we examined the initial steps in tackling a comprehensive review of a client’s potential exposures to sales tax requirements to states in which they have conducted business. In part two, we utilized and categorized client-side sales records to lay…

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

Anatomy of a Sales Tax VDA: Organizing and strategizing a multi-state Sales Tax Voluntary compliance project – Part 2

by: Raymond Chang, CPA (Part 2 of 3) In part one of this series, we examined the intial steps in tackling a comprehensive review of a client’s potential exposures to sales tax requirements to states in which they have conducted business. Here, we look into the results of our initial analysis and “fill in…

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

Anatomy of a Sales Tax VDA: Organizing and strategizing a multi-state Sales Tax Voluntary compliance project – Part 1

by: Raymond Chang, CPA (Part 1 of 3) Navigating the ever-evolving state Nexus and sales tax nuances is never a simple process. Adding to the complexities presented by the significant variance in states’ tax codes, the sheer logistics of maintaining the necessary due diligence can seem overwhelming. For those reasons, businesses are understandably reticent to…

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

Income Tax & Sales and Use Tax Compliance Big Concerns For Next 12 Months

Based on a poll of attendees at a recent Margolin, Winer & Evens LLP webinar on sales and use tax, it’s clear that income tax compliance, sales/use tax compliance and financial reporting are the biggest concerns facing accounting departments over the next 12 months. More than 500 professionals attended the webinar (2016 SalesTaxPerspective 8.1.16). These…

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

Living in one state – earning income in another: Avoiding double taxation

by: Richard L. Feldman, CPA, Senior Manager Once upon a time living in one state and earning revenue in another would have been very complicated. With the advent of modern technology and the ease of travel, however, such scenarios are commonplace. What remains complicated are the draconian tax implications that individual taxpayers and employers must…

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

Unclaimed Property and Escheat Responsibilities Should Prompt Multistate Tax Spring Clean Up

What is a business’ responsibility regarding unclaimed property reporting? With tax busy season over, now is an excellent time to prepare and prioritize your multistate tax 2016 Spring Clean Up. If you let this slide, you may be opening yourself up to harsh penalties from the states where you do business. While not technically a…

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

Market Based Sourcing – No Time To Hibernate

It is always fascinating to watch trends develop and revisit whether the prognosticators were correct – we even enlist Punxsutawney Phil at this time of year – more on him later. One trend we’ve been watching has been the state tax authorities’ modifications in the sourcing of revenue in order to increase the receipts from…

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

There’s No “Hot Stove” Off Season for Multistate Taxpayers

What used to be called the “off-season” in  Major League Baseball, now enthusiastically referred to as the “Hot Stove”  offers fans some of the most interesting and potentially impactful activity related to the sport.  To a baseball fan there is no longer an “off-season.” And as we all have experienced,…

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

Fall Clean Up – SALT Considerations When Merging or Liquidating Entities – Take Time To Step Back To See The Potential

Here in the Northeast, this Fall season has been filled with tranquil weather that invites us to get out for that last round of golf, long bike ride or outdoor exercise without being concerned about bundling up. However, Northeasterners know that this Fall’s tranquility should not lull anyone into complacency about how demanding the…

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

Tax Havens – “Water’s Edge” Combined Reporting is Moving Further Abroad

The initial principle of “Water’s Edge” combined reporting was to require combined reporting for affiliated domestic companies that are engaged in a unitary business. Some states have added foreign companies to the Water’s Edge group. These are companies that have a limited United States presence (20% or more) as long as they are part…

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

Multistate Tax ‘Nexus in Texas’ Alert – Comptroller Decision Sounds Sales Tax Warning For Software Providers

As someone who regularly tunes into the Weather Channel, I keenly appreciate how meteorologists recognize dangerous patterns and potentially significant storms through analysis of weather hundreds of miles and days away from a location.  This ability to predict weather emergencies allow us to prepare and “batten down the hatches” well in advance of the…

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

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 Corporate Income Tax, Nexus, State & Local Strategies

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 Corporate Income Tax, Nexus, State & Local Strategies

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 Corporate Income Tax, Nexus, State & Local Strategies

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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