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Miss. Bill Would Exempt Groceries From State Sales Tax

by usoftax_admin | Feb 6, 2024 | Tax News

Mississippi would exempt groceries from the state’s 7% sales tax but allow municipalities to subject groceries to local taxes as part of a bill introduced in the state Senate.

ED&F Says Office Raid During Cum-Ex Probe Was Illegal

by usoftax_admin | Feb 6, 2024 | Tax News

Counsel for commodity brokerage ED&F told the High Court at a hearing Tuesday that a raid on its London offices over allegations it had defrauded the Danish authorities out of 573 million kroner ($54 million) was illegal.

IRS Sets Additional Depreciation Deduction For Some Vehicles

by usoftax_admin | Feb 6, 2024 | Tax News

Certain vehicles placed in service in 2024 will be eligible for an additional depreciation deduction up to $20,400 for the first tax year, the Internal Revenue Service said Tuesday.

Canada Info Exchange Rules Found To Meet EU Standards

by usoftax_admin | Feb 6, 2024 | Tax News

Canada’s standards for automatic exchanges of information are in line with the European Union’s tax information reporting procedures for digital platform operators, known as DAC7, the European Commission determined.

Wis. Resolution Seeks To Limit Veto Power On Tax Bills

by usoftax_admin | Feb 6, 2024 | Tax News

Wisconsin would create a constitutional amendment to prohibit the governor from using a partial veto in a way that would increase taxes or fees as part of a joint resolution introduced in the state Assembly.

Ohio House Bill Seeks Tax Credit For Organ Donation Leave

by usoftax_admin | Feb 6, 2024 | Tax News

Ohio would provide an income tax credit for employers that offer paid leave to employees who take time off to recover from donating an organ under a bill introduced in the state House of Representatives.
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