When thinking about health foods, what comes to mind? Fruits and vegetables, right? Well, how about protein bars, drinks, and supplements. These are dietary items which are consumed with the intent to provide health-giving qualities to the human body. In most cases, states view food items as taxable. However, each state has a different definition
The Prager Metis Charitable Foundation, an approved I.R.C. § 501(c)(3) organization, is bringing the community together to fight Alzheimer’s with the first annual Swing for a Cure in support of the Alzheimer’s Association. The Alzheimer’s Association is the leading voluntary health organization in Alzheimer’s care, support, and research. Their mission is to eliminate Alzheimer’s disease
Congratulations to Peter J. Scalise for having been appointed to serve a 3-year term on the Prager Metis Foundation’s National Board of Directors for calendar years 2019 through 2021. Peter J. Scalise has been a leading philanthropist over the years for many charities concerned with poverty and hunger alleviation; economic development; health and social services; along with
The manufacturing industry is an enormous sector in the United States as it provides jobs and boosts the economy, but are you aware of the varying sales tax laws that come along with being a manufacturer? Most states provide some kind of sales tax exemptions to manufacturers, whether it be on the raw materials that
Pundits and politicians have been arguing endlessly on the “winners and losers” of the newly enacted tax law. PM Business Advisors has been and continues to carefully study the language of the new tax code in order to advise clients on how to best position their businesses in regards to the changes and existing ambiguities
New York’s fully refundable life sciences research and development tax credit could inspire start-up life science companies to take a second look at the otherwise high tax state as qualified companies could receive up to $500,000 for three years. A qualified life sciences company must be a new business, have paid or incurred qualified research
PM Business Advisors is happy to announce that they have awarded the 2018-2019 Striving for Greatness Accounting & Finance Scholarship to Milton Straham III from University of Michigan-Flint (UM-Flint). Milton is currently a graduate student in the MBA program at UM-Flint with a concentration in Accounting and Finance. Milton is President of his National Association of Black
What is the Connecticut Neighborhood Assistance Act The Connecticut Neighborhood Assistance Act (NAA) Tax Credit Program allows for the funding of municipal and tax-exempt organizations by providing a corporation business tax credit for businesses who make contributions. By making donations to qualifying organizations in Connecticut, the business can receive their donation back, dollar for dollar and
Since the South Dakota v. Wayfair ruling over six months ago, companies have been waiting to see how New York (the fourth most populated state) would handle the new rules for remote sellers. Tax advisors assumed New York was taking their time in creating the right formula, however, this may not have been the case.
On Tuesday, the California Department of Tax and Fee Administration announced that beginning April 1, 2019, California will require out-of-state retailers to collect and remit use tax if they have $100,000 in sales or 200 transactions. The $100,000 threshold is far from the $500,000 threshold discussed back in August 2018 through draft legislation. In addition,
