Tax & Accounting News

California enacted an elective pass-through entity (PTE) tax for tax years beginning in 2021 through 2025.

Federal partnership audit rules require partnerships to designate a representative to act on behalf of the partnership and its partners.

States have enacted a number of special incentives aimed at helping the industries hardest hit by the pandemic, such as restaurants and entertainment venues.

In response to the $10,000 federal cap placed on deducting state and local taxes (SALT), some states are enacting optional pass-through entity taxes as a workaround to the cap.

Construction companies face more complex sales and use tax planning and compliance rules than other businesses mainly because the construction process itself is inherently complex.

Construction companies face complex and unique challenges in planning for and complying with the sales and use tax obligations they face in the states in which they do business.

The Missouri legislature passed legislation late Friday, May 14 that would impose the requirement to collect and remit sales tax on out-of-state businesses who sell their products into the state.

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