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SC Clarifies Sales Tax Application For Inventory Withdrawals

by usoftax_admin | Mar 25, 2025 | Tax News

South Carolina imposes sales and use tax on items that wholesale purchasers withdraw from their own inventory, the state Department of Revenue clarified in a revenue ruling released Tuesday. 

Colo. Senate Panel OKs Tax Credit To Draw Sundance Festival

by usoftax_admin | Mar 25, 2025 | Tax News

A proposal for a tax credit aimed at attracting the Sundance Film Festival to Colorado was advanced Tuesday by a state Senate committee as supporters continued to tout the expected economic boost should the event move to the state.

Kan. Senate OKs Cuts To Income, Privilege Tax Rates

by usoftax_admin | Mar 25, 2025 | Tax News

Kansas would decrease its income and privilege tax rates if the state meets certain general revenue fund goals under a bill passed in the state Senate and received in the state House of Representatives.

Ore. Vineyard Can’t Deduct Biz Losses Exceeding Income

by usoftax_admin | Mar 25, 2025 | Tax News

An Oregon vineyard cannot deduct business loss expenses that are in excess of the business’ income because it was not operating for a profit, the state tax court affirmed.

ND General Revenue Collection Up $72M From Estimates

by usoftax_admin | Mar 25, 2025 | Tax News

North Dakota’s general revenue collection from July 2023 through February 2025 beat forecasts by $72 million, according to the state Legislative Council.

Ariz. General Fund Revenue Tops Forecast By $61M

by usoftax_admin | Mar 25, 2025 | Tax News

Arizona’s general fund revenue from July through February outpaced a budget forecast by roughly $61 million, according to a report by the state’s Joint Legislative Budget Committee.
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