DMA Corporate Tax Blog
DMA's tax blog keeps you up-to-date on corporate taxes across the United States, Canada, and Europe; and focuses on several key areas of corporate taxation: property tax, sales/use & commodity tax, state income & franchise tax, tax technology, severance tax, value added tax, customs & duty, crown royalties, and unclaimed property.
Utah Proposes Changes to Food Tax
The Tax Restructuring and Equalization Task Force has submitted a policy proposal that would affect many aspects of sales and use tax. The intent is to reduce and expand rate and exemption base. The.
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Arizona to Increase Thresholds for Estimated Payments
Per HB 2360, total annual tax liability instigating an estimated annual payment will gradually increase. The current threshold is $1,000,000 in actual tax liability in the preceding calendar year..
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Ohio Amends Aspects of the CAT Tax
Effective on June 20, 2019, Rules 5703-29-14 and 5703-29-16 clarified recent exclusions to the Commercial Activity Tax. The first rule states that cash discounts are excluded from gross receipts when.
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Oregon Gross Receipts Tax Signed into Law
Aimed at raising over $1 billion dollars in new tax revenue per fiscal year, Oregon has become the 6th state to enact a Gross Receipts Tax. After a nearly week-long legislative walkout, HB 3427.
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Washington Imposes New B&O Tax and Updates License Application
Effective January 1, 2020, SHB 2167 imposes a new B&O tax of 1.2% on financial institutions. The rate is applied to the gross income of the business. Note in the bill the specific definitions of.
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Puerto Rico Lowers Prepared Foods Tax
The Puerto Rico Treasury is reducing the prepared meals tax by almost 40%. Effective October 1, 2019, the meals tax will be reduced from 11.5% to 7%. This is a result of Law 257 signed by former.
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Nevada Commerce Tax Filing Threshold
The filing requirement for the Nevada commerce tax has changed. You do not have to file a commerce tax return if gross revenue from business between July 1, 2018 through June 30, 2019 was less than.
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DC Increases Soft Drink Tax
Due to an emergency budget, the rate for the soda drink tax will be increasing from 6% to 8%. The budget bill further adjusted the definition of soda drinks to include exclusions of drinks that are.
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North Dakota Changes to Filing Frequency
North Dakota Bill 2089 grants taxpayers the option to file a waiver for filing frequency issues that may arise from unusual or unanticipated reporting periods. Previously, any tax liability greater.
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Colorado Destination-Based Sourcing Expansion
For businesses without physical presence in Colorado, the non-physical presence locations will continue to be used to report sales made into the state. However, there have been some changes for.
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