What is the R&D Tax Credit Software companies have traditionally qualified for the R&D Tax Credit against income tax. However, many software companies are not taxable and up until recently could not benefit from this credit. The Protecting Americans from Tax Hikes (PATH) Act of 2015 allowed qualified start-up companies (i.e., those with less than
Within 24 hours of Alabama’s announcement regarding its enforcement date of 10/1/2018 regarding its economic nexus law, Wisconsin became the first state without an economic nexus law to announce that they will apply the SD v. Wayfair decision by rule. “New standards for administering sales tax laws on remote sellers will be developed by rule.
Remote sellers received some clarity from Alabama today regarding its existing economic nexus and marketplace facilitator rules. Although remote sellers are not happy about the decision by the Supreme Court in SD v Wayfair, this announcement helps clear up confusion and concern that has existed since the ruling regarding states like Alabama that had economic
If 2014 and 2015 were the years of click-through and affiliate nexus legislation, 2016 and 2017 will usher in a new era for remote seller reporting requirements and economic nexus challenges. During 2016 Louisiana was the only state to enact new legislation covering both click-through and affiliate nexus. This brings the total states that have
South Dakota v. Wayfair: Supreme Court Ruling on Collecting Sales Tax from Remote Sellers & Online Retailers
For the past three months, the Supreme Court has been listening to arguments regarding South Dakota v. Wayfair, Inc. On Thursday, June 21st, 2018 the Supreme court ruled in favor of South Dakota allowing states to collect sales tax from online retailers, effectively reversing a decision the Court made in 1992. In North Dakota v. Quill Corp., 504 U.S.
PM Business Advisors is happy to announce that they are now accepting applications for the 2019 Striving for Greatness Accounting & Finance Scholarship. The Striving for Greatness Accounting & Finance Scholarship is a $2,500 college scholarship available to one well-rounded undergraduate or graduate Accounting or Finance Student who displays both academic excellence as well as an involvement
When you think about real estate tax issues, in general, sales tax concerns do not rise to the top. However, many states and cities have a complex set of sales tax rules that apply to the real estate industry and companies that are not complying could be drastically underpaying or overpaying sales tax. Keeping up
Peter J. Scalise Enters the Alzheimer’s Association Grand Champions Club for the Third Consecutive Year!
Peter J. Scalise, our Federal Tax Credits & Incentives Practice Leader and Leading Philanthropist, has been honored for his extraordinary thought leadership and fundraising efforts for the Alzheimer’s Association by being inducted into the Grand Champions Club for the third consecutive year in a row. Peter is also proudly serving as the 2018 Sponsorship Chairman
I spend most of my day discussing sales tax issues with companies large and small. Whether we are assisting a start-up with sales tax compliance requirements or helping a large company with a complicated sales & use tax audit, we are always amazed at how often companies do not put processes in place to ensure