Posted May 24 2016 2:09 PM by
Starting in 2016, Indiana adopted a small business personal property tax exemption. This exemption exempts personal property for businesses that have less than $20,000 of taxable acquisition cost in a county. Prior to the 2016 legislative session, business owners had to complete an affidavit stating they had less than $20,000 in acquisition cost, sign and notarize the form.
Posted Apr 5 2016 6:04 PM by
Katz, Sapper & Miller released its annual 2016 Indiana Legislative Update, which summarizes tax and economic development legislative changes that occurred in this year's Indiana General Assembly.
Posted Mar 30 2016 4:00 AM by
Public-private partnerships (P3) are a hot topic in real estate development. With many real estate developers and construction companies often experiencing a lack of liquidity, these cooperative agreements between government and private entities allow the building of many projects that would not happen otherwise.
Posted Mar 23 2016 4:00 AM by
New York Denies Refund for Erroneously Paid Sales Tax - An automobile dealership was not entitled to a refund for sales tax collected on extended warranties sold in Connecticut that was erroneously remitted to New York state. The taxpayer subsequently paid sales tax to the state of Connecticut on the same sales, at a rate of approximately 6%.
Posted Feb 16 2016 5:00 AM by
The 2016 Indiana legislative session is well underway. It is a short session and not a budget year, so we do not expect many significant tax changes as a result of the session. Currently, however, there is proposed sales tax legislation that would impact real property construction contractors.
Posted Feb 10 2016 12:00 PM by
As we enter another tax filing season, KSM’s Tax Services Group wanted to remind everyone of at least two tax scams that you may encounter: phone scams and phishing.
Posted Jan 7 2016 5:00 AM by
While the holiday season is still fresh, now is a good time to reflect on the recent flurry of passed and proposed legislative activity impacting the construction industry.
Posted Dec 31 2015 12:00 PM by
On July 31, 2015, the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 (the “Surface Transportation Act”) was signed into law. The Surface Transportation Act includes a wide variety of provisions.
Posted Dec 30 2015 5:00 AM by
With the 2016 filing season right around the corner, please be aware that substantial changes have occurred to Indiana personal property tax filings.
Posted Dec 21 2015 3:57 PM by
Friday, Dec. 18, President Obama signed the Protecting Americans from Tax Hikes Act of 2015 (PATH Act). The PATH Act extends many popular tax provisions that expired at the end of 2014. Unlike the tax extenders legislation we have seen in the past couple of years, the PATH Act makes many provisions permanent, extends others through 2019, and extends several provisions through 2016.