Top 10 State and Local Tax Considerations
…their marketplaces. Taxpayers should still confirm that the sellers are collecting the correct tax rate and appropriately taxing their purchases. 8. BPOL and Other Local Taxes Local business license taxes…
…their marketplaces. Taxpayers should still confirm that the sellers are collecting the correct tax rate and appropriately taxing their purchases. 8. BPOL and Other Local Taxes Local business license taxes…
…requires businesses to file tax returns and pay taxes (if applicable) – whether income tax, sales tax or other taxes States may assert nexus due to a physical or economic…
By Denise M. Holmes, CPA, Tax Partner | Healthcare & Medical Practices Industry Team 9 out of 10 Tax Professionals Agree…Proactive Tax Planning and Taking Advantage of Tax Deductions is…
By Terry Barrett, CPA, Tax Senior Manager | State and Local Tax Team Summary of New Requirements for State Income and Income-Like Taxes Recent activity by several states’ taxing jurisdictions…
…advisor before making any decisions. Individuals Tax rates For tax years 2018 through 2025, the following rates apply to individual taxpayers: Single Taxpayers Taxable Income Over Income Does Not Exceed…
…Year 2018 – Virginia Department of Taxation Additional State and Local Tax Resources Sales Tax Requirements: One Year After Landmark Wayfair Decision Virginia Tax Credits for Individuals and Corporate Taxpayers…
…for improved taxpayer compliance and service. Increase in top marginal income tax rate Effective for tax years, beginning in 2022, the top marginal income tax bracket would be increased from…
…Virginia Department of Taxation. If they do not, and they are audited, they will be assessed the tax and interest (and possibly penalties) on the unreported tax. The unreported tax…
…taxes paid to other states, also for taxable years 2021 through 2025. The Virginia Department of Taxation issued Tax Bulletin 22-6, which provides additional information regarding this entity level tax…
…include child tax credits, higher education tax credits, and deductions for student loan interest. Postponing income also is desirable for those taxpayers who anticipate being in a lower tax bracket…
…reach out to us. Additional State and Local Tax Resources: 2018 New Jersey Tax Amnesty Program: What Taxpayers Should Know Virginia Software Sales and Use Tax Exempt With Proper Documentation…
…implications for sales and use taxes. While not the main focus, the decision may also have substantial implications for income taxes. Wayfair Sales Tax The Wayfair decision by the U.S….