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State and Local Tax

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Dispelling Myths About Sales Tax Obligations After the Wayfair Decision

Posted 7:30 PM by
It’s rare for a Supreme Court tax case to make headlines in the mainstream media, but that’s just what happened last year when the court announced its decision in the case of South Dakota v. Wayfair (Wayfair). What most folks “learned” from the coverage was actually full of half-truths and myths, the biggest one being that Internet retailers like Amazon would have to start “charging customers” state sales tax on their purchases. As with most news reports about taxes, reporters did their best to summarize a complex issue, but many taxpayers were left confused about how the change affects them. This confusion is now playing out in the day-to-day operations of businesses across the country, leaving many out of compliance when they otherwise thought they were.
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New Jersey Corporate Tax Overhaul: 2019 Planning Considerations

Posted 12:30 PM by
In 2018, New Jersey Gov. Phil Murphy signed Assembly Bill No. 4202 into law. The bill included tax provisions that respond to the Tax Cuts and Jobs Act (TCJA). Most significantly, changes were made to the Corporation Business Tax. Later that year, Gov. Murphy signed Assembly Bill No. 4495, which then made technical corrections to Assembly Bill No. 4202 and clarified effective dates. In 2018, New Jersey Gov. Phil Murphy signed Assembly Bill No. 4202 into law. The bill included tax provisions that respond to the Tax Cuts and Jobs Act (TCJA). Most significantly, changes were made to the Corporation Business Tax. Later that year, Gov. Murphy signed Assembly Bill No. 4495, which then made technical corrections to Assembly Bill No. 4202 and clarified effective dates. As your business begins to plan for 2019, the following information will be important.
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Indiana Changes Policy on Taxability of Documentation Fees

Posted 3:00 PM by
Indiana has recently issued an updated version of Sales Tax Information Bulletin #28S, changing its policy on the taxability of documentation fees, effective April 2, 2019. Historically, the Indiana Department of Revenue (IDOR) has treated these fees as if they were separate from the sale of the vehicle. It treated them as fees for helping a customer title and register a vehicle with the Indiana Bureau of Motor Vehicles (BMV). This is a nontaxable service in Indiana, so the documentation fees were not subject to sales tax. However, effective April 2, 2019, the IDOR will assume documentation fees are subject to sales tax if they are not “convenience fees,” a specific term that is defined in statute.
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Indiana Implements Heavy Equipment Excise Tax

Posted 8:00 PM by
Effective Jan. 1, 2019, Indiana implemented a new excise tax on the rental of heavy equipment from a location in Indiana. The rental excise tax is 2.25 percent of the gross retail rental income. The renter is liable for the tax, and it will be collected by the retail merchant and sourced to the location from which the equipment is rented. The tax may be reported in the same manner used to report the retail merchant’s Indiana sales and use tax (INTax).
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Katz, Sapper & Miller Introduces New Partners in 2019

Posted 1:00 PM by
Katz, Sapper & Miller is pleased to announce our two newest partners, Randy Hooper and Stephen Royster. These individuals embody KSM’s values as they provide innovative solutions and superior service to help their clients achieve the great things they want to accomplish. We congratulate them on this outstanding achievement.
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New Jersey Amnesty Program Ends Jan. 15

Posted 3:00 PM by
New Jersey is currently running an amnesty program that allows taxpayers an opportunity to become compliant with certain state tax liabilities and unfiled tax returns. The state has identified certain companies and individuals with outstanding liabilities on account and contacted them regarding this program; however, companies and individuals that were not contacted by the state are also eligible to participate.
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Living in a Post-Wayfair World: How Failure to Comply Can Hurt Your Business

Posted 6:30 PM by
The Supreme Court’s recent South Dakota v. Wayfair decision allows states to require sellers to collect and remit sales tax based on the establishment of economic nexus. Though many businesses have taken note, they’re still asking, “Does this really affect me?” For many businesses, doing the same things this year that you did last year could mean new state tax obligations. Beyond upholding many states’ existing laws, Wayfair has inspired others to propose similar statutes or enforce existing ones more vigorously. In fact, more than 30 states have enacted or proposed economic nexus standards.
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New York State & Local Tax Update: October 2018

Posted 2:30 PM by
New York lawmakers enacted a program to potentially circumvent the Tax Cuts and Jobs Act (TCJA), which imposes a $10,000 cap on the state and local tax (“SALT”) deduction for individuals who itemize their deductions. This Employer Compensation Expense Program (“ECEP”)created an elective Employer Compensation Expense Tax (“ECET”) that employers can elect to pay if they have employees that earn over $40,000 annually in wages and compensation in New York state.
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What the Wayfair Decision Means for Out-of-State Sellers

Posted 4:30 PM by
The Supreme Court of the United States made headlines this summer when it announced a decision that would dramatically affect how states impose sales tax collection responsibilities. The court’s ruling in South Dakota v. Wayfair allowed states to require that sellers collect and remit sales tax based on the establishment of an “economic nexus,” doing away with the previous “physical presence” test. The ruling has significantly expanded the states’ authority in the sales tax arena, and businesses in every state will likely be impacted.
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New York State & Local Tax Update: July 2018

Posted 6:00 PM by
Businesses subject to New York City’s Commercial Rent Tax (CRT) will now be able to claim the new CRT credit on their June 1, 2018–May 31, 2019 tax return.
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