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Limited Corp. Disclosure Regs May Spark Legal Challenges

by usoftax_admin | Apr 4, 2025 | Tax News

The U.S. Treasury Department’s newly narrowed information disclosure regulations, which cover less than 1% of the 33 million small businesses operating in the U.S., likely lay the groundwork for legal challenges contending that the guidance flouts underlying...

Fla. House Bill Would Cut General Sales Tax Rate, Other Rates

by usoftax_admin | Apr 4, 2025 | Tax News

Florida would reduce the state’s general sales tax rate and other sales tax rates, including the rates imposed on commercial rent, electricity and sales of new mobile homes, by three-quarters of a percentage point under a bill introduced in the state House of...

Wash. Justices Won’t Review Biz Group’s Tax Deduction Case

by usoftax_admin | Apr 4, 2025 | Tax News

The Washington Supreme Court declined to hear an appeal from the Better Business Bureau over a lower court’s denying that the group was entitled to a refund of business and occupation taxes paid to the Washington Department of Revenue in 2017.

Ky. Law Could Be Model For Eliminating State-Level Deference

by usoftax_admin | Apr 4, 2025 | Tax News

A new law that bars Kentucky’s courts from deferring to state agencies’ interpretations of statutes and regulations could serve as a model for other states that are considering following the U.S. Supreme Court’s overturning of the Chevron...

The Tax Angle: Dueling Economic Outlooks For TCJA Renewal

by usoftax_admin | Apr 4, 2025 | Tax News

From a look at opposite economic projections for renewing the 2017 Tax Cuts and Jobs Act during the Senate debate on the Republicans’ fiscal 2026 budget resolution, here’s a peek into a reporter’s notebook on a few of the week’s developing tax...

Texas Revenue Collection Through March Up From Last Year

by usoftax_admin | Apr 4, 2025 | Tax News

Texas’ total revenue collection from September through March outperformed last year by roughly 3.7%, according to a report by the state Comptroller’s Office.
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