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Property Tax: The Ripple Effects of Tariff Wars Between the U.S. and China

NEWS

May 14, 2019

Property Tax: The Ripple Effects of Tariff Wars Between the U.S. and China

Uncertainty in the macro-economic environment that may be triggered by tariffs imposed or increased by the U.S. and the retaliatory tariff counter measures that China may take could lead to market actions and reactions that dramatically impact the values of the underlying assets of certain industries. Since real and personal property taxes are predicated on the market value of assets, it is important to first understand the potential impact of these variables, and then consider these factors in the assessed values subject to property taxation. In this post, I’ll also share a property tax strategy that can be used to offset the negative impacts of higher tariffs that appear to be imminent.

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How to Execute Post-Wayfair Sales & Use Tax Calculations

NEWS

October 18, 2018

How to Execute Post-Wayfair Sales & Use Tax Calculations

The concept of “just charging sales tax” is not as simple as maintaining a tax rate table somewhere and turning on a switch. Tax departments must contemplate all the moving parts — varying tax rates across jurisdictions, origin vs. destination-based sourcing, local tax thresholds, customer taxability, product/service taxability, bundled transactions, drop shipments — things can quickly become overwhelming and almost impossible to maintain manually. Tax calculation is something you must take the time to think about. Read this blog to provoke your thinking.

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No Property? No Payroll? No Problem! The Evolution of State Tax Nexus and Sourcing

NEWS

June 11, 2018

No Property? No Payroll? No Problem! The Evolution of State Tax Nexus and Sourcing

States are slowly providing more legislative developments and insight on their responses to Federal Tax Reform. Now, we are anticipating a SCOTUS decision on state tax nexus limitation (South Dakota v. Wayfair). Read this blog to get up-to-speed on the history and current status.

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IRS Notice 2018-13: How it Affects Your Toll Tax Model

NEWS

January 26, 2018

IRS Notice 2018-13: How it Affects Your Toll Tax Model

In this update to our previous post on the toll tax, we highlight the key proposals in Notice 2018-13, noting particularly where changes will affect clients’ ongoing work to model the toll tax for end-of-year provision purposes.  

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Taking the Sting out of Mandatory Repatriation: Consider OFLs, NOLs, and FTCs

NEWS

December 15, 2017

Taking the Sting out of Mandatory Repatriation: Consider OFLs, NOLs, and FTCs

As we approach the final stages in the tax reform process, the details and what-if scenarios are swarming. One detail everyone should be aware of is that the House and Senate bills impose a tax on the deferred foreign income of U.S. shareholders of CFCs as part of the transition to a territorial system of taxation. In short, the amount of non-previously taxed E&P of a U.S. shareholder’s CFCs is included in the shareholder’s 2017 Subpart F income.

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