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Tool Sales Not Wholesale Transactions, Miss. Justices Rule

by usoftax_admin | Feb 23, 2024 | Tax News

A tool seller in Mississippi was correctly assessed additional sales tax by the state’s Department of Revenue as some of its transactions can’t be considered wholesale because its customers directly used the items, the state high court ruled.

BREAKING: NRA, LaPierre Found Liable For Misconduct In $6M Verdict

by usoftax_admin | Feb 23, 2024 | Tax News

A New York jury found Friday that the National Rifle Association, longtime CEO Wayne LaPierre and two other executives improperly used donor money, among other misconduct, ordering individual defendants to repay the gun rights group a total of $6.4 million.

Mo. Floats Updated Filing, Withholding Rules For Partnerships

by usoftax_admin | Feb 23, 2024 | Tax News

The Missouri Department of Revenue on Friday proposed amendments to a partnership and S corporation regulation that specifies when annual returns must be filed and explains tax withholding requirements.

Mo. Pitches Updates To Rule Outlining NOL Procedures

by usoftax_admin | Feb 23, 2024 | Tax News

The Missouri Department of Revenue proposed amendments Friday to a net operating loss regulation that explain how NOLs should be treated when they are disallowed for state income tax purposes and computed during corporate mergers.

Md. Biz Groups Pan Combined Corporate Tax Reporting, Hikes

by usoftax_admin | Feb 23, 2024 | Tax News

A legislative proposal in Maryland to impose worldwide combined corporate tax reporting and raise other taxes while boosting some individual tax credits would discourage commerce and generate less revenue than promised, business representatives told lawmakers.

Ala. Bill Seeks Lodging Tax On Full Charge By Intermediaries

by usoftax_admin | Feb 23, 2024 | Tax News

Online facilitators booking accommodations in Alabama would be required to collect and remit lodging taxes on the full charge for the rentals, including service fees and real property rentals, under legislation introduced in the Alabama House of Representatives
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