Our professionals have extensive experience working with both large and mid-size public and private companies in the state and local tax arena. Several members of our Transaction Tax team have more than 20 years of experience assisting clients with transaction taxes. Our knowledge and experience bring perspective and insight to complex multi-state issues.
Does your business own personal property (i.e. equipment, furniture, computers, etc.)? If so, you may owe property taxes on these assets, and the filing deadline for Michigan is February 20.
As part of the Tax Cuts and Jobs Act of 2017 (TCJA) a cap was enacted to limit state and local tax (SALT) deductions for individuals to $10,000 ($5,000 for married filing separate returns).
In recent months, many states have changed methods of allocating sales from the cost-of-performance to a more market-based sourcing.
Last month, New Jersey, New York and Connecticut filed a suit against the IRS and Treasury Department challenging rules that restrict certain workarounds to the cap on state and local tax deductions.
Employees traveling to multiple states for work during the year may soon see some relief when filing taxes. Senate Democrats and Republicans have come to an agreement on a bill that would ease the filing process for these employees. The bill would simplify and standardize state income tax collection for traveling employees working out of state temporarily. The bill would also provide relief for employers who must comply with withholding and reporting requirements.