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Oracle Appeals Mo. Denial Of $2.5M Use Tax Refund Claim

by usoftax_admin | Apr 19, 2024 | Tax News

Oracle asked the Missouri Administrative Hearing Commission to overturn the state tax department’s denial of a $2.5 million use tax refund claim, arguing that the company incorrectly invoiced the taxes to customers but subsequently refunded them the money.

Dispute Over Taxing Business Inputs Snares Va. Lawmakers

by usoftax_admin | Apr 19, 2024 | Tax News

Whether businesses should be taxed as they move products through the supply chain has been vexing for those following tax policy, but the issue is garnering far more attention as it heads to the forefront of the Virginia budget process.

Va. General Revenue Collection Through March Grew $1.2B

by usoftax_admin | Apr 19, 2024 | Tax News

Virginia general fund revenue collection in July through March was up roughly $1.2 billion from the same period in the previous fiscal year, according to a report from the Department of Accounts.

Calif. Revenues Through March Down $5.6B From Estimates

by usoftax_admin | Apr 19, 2024 | Tax News

California’s total receipts from July through March were $5.6 billion lower than expected in the governor’s 2024-25 budget, according to the monthly report by the state controller.

NY Lawmakers Approve Overhauling Cannabis Tax System

by usoftax_admin | Apr 19, 2024 | Tax News

New York is slated to scrap its potency-based tax system for adult-use cannabis and replace it with a more streamlined wholesale tax structure in June under a budget-related bill approved by state lawmakers.

UK Tax Pros Worried Public Unaware Of Crypto Tax Liabilities

by usoftax_admin | Apr 19, 2024 | Tax News

With the growing interest in crypto-asset trading, a group representing tax professionals in the U.K. said Friday that it is concerned HM Revenue & Customs isn’t doing enough to make the public aware of its tax obligations, particularly with the lowered...
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