by usoftax_admin | May 2, 2025 | Tax News
The California cannabis excise tax on gross receipts from retail sales of cannabis will increase from 15% to 19% as a part of a law requiring the rate be adjusted every two years, the state Department of Tax and Fee Administration announced Friday. by usoftax_admin | May 2, 2025 | Tax News
A Massachusetts senior condominium unit was overvalued by $36,000, the state Appellate Tax Board ruled in an opinion released Friday, saying the owner’s comparable sales analysis showed the property’s valuation was inconsistent with the other... by usoftax_admin | May 2, 2025 | Tax News
The Mississippi Department of Revenue didn’t have the authority to tax freight charges paid by a gas transportation company to a third party because they were part of a separate transaction and not the overall purchase, the state Supreme Court ruled. by usoftax_admin | May 2, 2025 | Tax News
Nixon Peabody LLP has appointed a more than 20-year veteran of the firm as its Washington, D.C., office managing partner, who focuses his practice on a range of corporate, finance and real estate matters, according to a Thursday announcement. by usoftax_admin | May 2, 2025 | Tax News
A California district court must stop federal agencies from moving ahead with President Donald Trump’s directive to reorganize and terminate government workers, unions and other groups argued, calling for a temporary restraining order based on alleged harms from... by usoftax_admin | May 2, 2025 | Tax News
A Massachusetts homeowner cannot have the value of her home lowered after failing to account for the differences between her home and the comparable sales she provided, the state tax appeals board said in a ruling released Friday. by usoftax_admin | May 2, 2025 | Tax News
The Internal Revenue Service’s budget would be cut by nearly $2.5 billion compared with 2025 under the 2026 budget request released Friday by President Donald Trump’s administration. by usoftax_admin | May 2, 2025 | Tax News
The U.S. House Judiciary Committee advanced legislation on Wednesday that would impose more restrictions on state tax authorities to levy income taxes on out-of-state businesses, approving changes to P.L. 86-272 in the panel’s portion of the federal budget... by usoftax_admin | May 1, 2025 | Tax News
PepsiCo was correctly assessed $2.1 million in penalties for categorizing Frito-Lay expatriates’ compensation as foreign payroll that would allow the company’s profits to be excluded from state income tax calculations, according to an Illinois Appellate... by usoftax_admin | May 1, 2025 | Tax News
The Internal Revenue Service’s targeted sweeps of so-called high-income nonfilers have largely been successful in closing cases and collecting revenue, but the agency could do more to target certain areas and collect tracking data better, the Treasury Inspector...