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Sales and Use Tax Updates from March

TaxConnex

Municipalities in Alaska, which has no statewide sales tax, have begun banding together to impose tax on remote online sales into their jurisdictions. Georgia lawmakers have introduced H.B. 594 , which would impose the Georgia sales tax on digital goods or services. 10 to report use tax.

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IRS Provides Relief to Taxpayers Impacted by Hurricane Helene

Withum

The IRS issued a news release providing tax relief for taxpayers affected by Hurricane Helene. This includes the entire states of Alabama, Georgia, North Carolina, and South Carolina, 41 counties in Florida, eight counties in Tennessee, and six counties and one city in Virginia.

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Dear Graduate… Don’t let your next steps be taxing!

Menzies

If you want to be self-employed (also referred to as a ‘sole trader’) you need to notify HMRC by 5 October following the end of the tax year in which you started your new business. You’ll then need to file self-assessment tax returns and pay any income tax, Class 2 and Class 4 National Insurance Contributions due by 31 st January annually.

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Understanding Tax Savings for UK Tech Firms

Menzies

Companies can elect in the tax return to treat internally developed software as eligible for capital allowances, resulting in full capital allowances rather than amortisation and aiding short-term cash flow. However, fluctuations in tax rates should be monitored to determine the most beneficial approach.

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More Than a Loophole: Delaware Sales Tax and Other Benefits of Incorporation in DE

inDinero Tax Tips

And there’s no state corporate income tax on goods and services provided by Delaware corporations that operate outside of the state. Delaware holding companies benefit from no corporate tax on interest and other investments. The state also doesn’t impose personal property tax.

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Shrinking the Delaware Tax Loophole: Other U.S. States to Incorporate Your Business

inDinero Tax Tips

Partnership entities such as limited partnerships, limited liability corporations, and general partnerships are not required to file an annual report in Delaware, but they do pay a $300 tax annually. The Delaware franchise tax. A franchise tax is a charge by states on corporations to conduct business in their state.

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Friday Footnotes: A World Without Accountants; GAO Finds a Big Mistake; ‘Fazbie’ | 8.5.22

Going Concern

How the 15% US Minimum Corporate Tax Would Work [ Washington Post ] The tax, climate and energy proposal by Senate Democrats includes a 15% minimum tax on the domestic profits of large American companies.

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