Florida Corporate Income Tax 2018 and 2019 Taxable Years Reporting of Additional Required Information Alert | Sep 03, 2019 More About | Jacksonville, FL | Tampa Bay, FL | State & Local Tax | Risk & Regulatory The Florida Department of Revenue issued TIP No: 19C01-03 “Florida Corporate Income Tax 2018 and 2019 Taxable Years Reporting of Additional Required Information” on August 26, 2019. Every filer of Florida Form F-1120 or F-1120A for any taxable year beginning during either calendar year 2018 or 2019 is required to provide additional information to the Florida DOR online at floridarevenue.com. The additional information is due the earlier of 10 days after the extended due date of the Florida corporate income/franchise tax return or 10 days after the tax return is filed. Read More
North Carolina Issues Refund Claim Guidance Related to the U.S. Supreme Court’s Kaestner Trust Decision Alert | Jul 12, 2019 More About | Tax | State & Local Tax | Risk & Regulatory On June 21, 2019, the U.S. Supreme Court (Court) issued their unanimous decision in North Carolina Department of Revenue v. Kimberley Rice Kaestner 1992 Family Trust (Kaestner) upholding a North Carolina Supreme Court ruling that declared a statute automatically subjecting a trust to income tax solely on the basis of the beneficiary’s in-state residency invalid on the grounds the statute violates the Due Process Clause of the Fourteenth Amendment under the U.S. Constitution. The Court noted their decision was limited to the specific facts presented in Kaestner, did not automatically imply approval or disapproval of state trust taxes premised on in-state resident beneficiaries without understanding the beneficiaries’ relationship to the trust assets. DHG has previously issued an alert on the Court’s decision. Read More
Supreme Court Blocks North Carolina’s Taxation of Trust Income on the Basis of In-state Residency Alert | Jun 26, 2019 More About | Tax | State & Local Tax | Risk & Regulatory On June 21, 2019, the U.S. Supreme Court (Court) issued their unanimous decision in North Carolina Department of Revenue v. Kimberley Rice Kaestner 1992 Family Trust (Kaestner) upholding a North Carolina Supreme Court ruling that declared a statute automatically subjecting a trust to income tax solely on the basis of the beneficiary’s in-state residency was invalid on the grounds that the statute violates the Due Process Clause of the Fourteenth Amendment under the U.S. Constitution. The Court noted their holding was limited to the specific facts presented in Kaestner and that they did not automatically imply approval or disapproval of state trust taxes premised on instate resident beneficiaries without understanding the beneficiaries’ relationship to the trust assets. Read More
Wayfair’s Impact on States’ View of Nexus & Potential Sales Tax Burden on Technology Companies Webinar Recording | Virtual - Webinar More About | Atlanta, GA | Technology & Life Sciences | State & Local Tax | SALT Nexus The South Dakota vs Wayfair ruling leaves many companies with a greater sales tax compliance burden and can impact both sales and purchases. With each state’s requirements varying widely, technology companies will need to dedicate more time and resources to meet states’ taxability and reporting requirements. Read More
Wayfair – The Impact on Manufacturers Webinar Recording | Webinar More About | Manufacturing & Distribution | Tax | State & Local Tax | SALT Nexus The recent South Dakota vs Wayfair ruling will leave companies with a greater sales tax compliance burden and can impact both sales and purchases. Read More
Year End Tax Planning for Private or Small Businesses and Individuals Webinar Webinar Recording | Webinar More About | Generational Wealth Planning | Estate Tax Credits | Mergers & Acquisitions | Tax | Federal Corporate Tax | Tax Accounting | International Tax | Real Estate Tax | State & Local Tax | Cost Segregation | Sales and Use Tax | Research & Development Tax Credits | Transfer Pricing | Accounting Methods | Executive Compensation | Performance & Growth Year End Tax Planning for Private or Small Businesses and Individuals Webinar Read More