NEWS
February 04, 2020
The management of sales and use tax compliance can be complicated. Especially if your process is manual. To make it more manageable, you need to first ask the right questions about your data, your process, and your resources.
NEWS
May 14, 2019
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.
NEWS
May 08, 2019
If you have been tracking US Sales and Tax over the last few years you may have heard about the Wayfair case and its impact on US sales and use tax. In order to understand Wayfair, we wanted to give a quick overview of U.S Sales and Use Tax and insight on some of the areas you’ll need to focus on when doing business in the U.S. Read the full article by GTM’s Jim Ford, as published in the WTS Global VAT Newsletter Q1/2019.
NEWS
October 18, 2018
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.
NEWS
June 11, 2018
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.
NEWS
March 01, 2018
As anyone who has ever asked a state tax question knows, the response frequently begins with “it depends.” State tax reform issues are no exception. Read on to learn more.
NEWS
February 23, 2018
In this blog, learn the Tax Cuts and Jobs Act’s new definition of qualified property, impact of bonus depreciation on M&A, and the like-kind exchange. Read on to learn more.
NEWS
February 13, 2018
In this blog, we review the background to § 163(j), describe the provision, and review some of the tax accounting considerations. The I.R.S. has identified providing “computational, definitional, and other guidance” on revised 163(j) as a priority. Read on to learn more.
NEWS
January 26, 2018
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.