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Shutting Down a Tech Company – Some Tax/Accounting Tips

Shay CPA

Specifically, you should look at: Payroll accounts, including withholding, Department of Labor, and state unemployment insurance accounts. Sales tax accounts. State franchise and income tax accounts. File away R&D tax credit and pandemic aid documentation. Workers’ compensation. New Jersey.

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South Carolina Increases & Extends Abandoned Buildings Tax Credit

Cherry Bekaert

The new law applies to income tax years beginning after December 31, 2023. The act provides tax incentives for developers who take on the challenge of restoring and repurposing these buildings, breathing new life into communities and stimulating economic growth.

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Demystifying Taxes for Startup Founders: Deadlines You Need to Know

Shay CPA

ASAP: Check state deadlines While a lot of states follow the IRS’s lead and require tax filings by mid-April, not all do. Usually, there’s not a ton of deviation from the IRS’s date — Iowa requires corporate income taxes by April 30, for example. You still need to pay any taxes you owe by April 15.

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What New York-Based Tech Companies Should Know About QETC Filings

Shay CPA

If you set up your corporation in Delaware, for example, but you have a New York location, you can still qualify. By certifying as a QETC, your business income tax rate is 0.04875 versus 0.0725, which is a considerable saving.