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

New York State Provides Limited Penalty Relief For Sales Tax Vendors

In the wake of declaring a State Disaster Emergency, New York Governor Cuomo has issued an executive order expanding the Tax Commissioner’s authority to abate late filing and payment penalties to also allow the Commissioner to abate interest on quarterly sales and use tax filings and remittances with a due date of March 20, 2020…

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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

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 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 Sales and Use Tax, State & Local Strategies

The Heat Is On – How Prepared Is Your Company for Sales and Use Tax Exams?

The late, great Glenn Frey’s song, “The HEAT IS ON”, accurately describes what many companies are experiencing when it comes to sales tax exams this summer. As I noted during a recent Webinar (and confirmed by attendees themselves), sales tax compliance and exams are hot topics for many companies. Equally important, the extensive information…

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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, Income and Franchise, Property and Other State/Local Tax Issues, Sales and Use Tax, State & Local Strategies

Fall Clean Up – SALT Considerations When Merging or Liquidating Entities – Beware of Hidden State Tax Dangers in Those Leaves

Wow, October is almost gone! One of my favorite but perhaps most frustrating chores this month is raking the leaves. There are several huge Pin Oaks around my home that provide great shade in the summer and a blanket of leaves in the fall. I always rake the leaves into one or two huge piles…

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

Connecticut Law Boosts Tax Revenue from Multistate Corporations

Connecticut is known as the “Nutmeg State” because its early settlers were considered ingenious and shrewd for recognizing the value of nutmeg and selling it to travelers. Early this summer, the state lived up to its shrewd reputation when its General Assembly passed a budget bill containing provisions that would (among other provisions) increase…

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Posted in Income and Franchise, Personal Income Tax, Property and Other State/Local Tax Issues, Sales and Use Tax, State & Local Strategies

New York State Tax Department Switches Banks – Affecting Taxpayers with Debit Blocks on Their Accounts

The New York State Tax Department is switching banks – and that should make you sit up and take notice if you or your clients use debit block services to electronically pay one or more New York State taxes. You only have until June 25, 2015 to contact your bank and have them add…

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Posted in Sales and Use Tax, State & Local Strategies

Taxpayer “Victory” in Direct Marketing Case – But Multistate Retailers Shouldn’t Do the Snoopy Dance of Joy Just Yet

In a seeming victory for online retailers, the U.S. Supreme Court last week ruled that the Tax Injunction Act does not bar a retailer from bringing a suit in federal court. The suit originally brought by the Direct Marketing Association involved whether Colorado could force online retailers to report purchases made by their…

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Posted in Sales and Use Tax, State & Local Strategies

Marketplace Fairness Act Meets Another Detour as a New Proposal Circulated for Online Sales Tax Simplication

Is the new Congress planning to alter some of the unpopular provisions of the 2013 Marketplace Fairness Act? It sure seems like it. On January 13th, House Judiciary Chairman, Representative Bob Goodlatte, circulated a draft of the  Online Sales Simplification Act of 2015.  As reported in a Bloomberg BNA article, 

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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 Sales and Use Tax, State & Local Strategies

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

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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