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Calif. Tax Owed By Ex-President Of Delaware Corp., OTA Says

by usoftax_admin | May 7, 2024 | Tax News

The former president of a corporation that was once based in California is the responsible party for the corporation’s sales tax liability, the state Office of Tax Appeals ruled. 

Employment Agency Owner Admits Hiding $10M In Income

by usoftax_admin | May 7, 2024 | Tax News

The owner of a temporary employment agency pled guilty to filing false federal business tax returns to conceal more than $10 million in corporate income, the U.S. Department of Justice announced Tuesday.

Electric Groups Say PIN Rule May Hurt Energy Credit Process

by usoftax_admin | May 7, 2024 | Tax News

While three groups representing electric equipment manufacturers are supportive of the energy efficient home improvement credit, they say its product identification number, or PIN, requirement could harm the process, according to a letter released Tuesday by the U.S....

Colo. Lawmakers OK Tax Credit For Job Training Costs

by usoftax_admin | May 7, 2024 | Tax News

Colorado would create an income tax credit for expenses associated with facility upgrades and purchases of equipment for training programs designed to alleviate staffing shortages as part of a bill passed by lawmakers that goes next to Democratic Gov. Jared...

Tenn. To Let Cities Exempt Food From Sales Tax

by usoftax_admin | May 7, 2024 | Tax News

Tennessee will allow municipalities that have adopted a city sales tax rate to exempt retail sales of food from the local tax under a bill signed by the governor.

Fla. Net Revenue Through March Beats Estimates By $468M

by usoftax_admin | May 7, 2024 | Tax News

Florida’s net revenue collection from July through March was up $468 million over budget estimates, the state Office of Economic and Demographic Research reported.
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