Navigating Nexus, Published in the November 2010 Issue of the Journal of Accountancy
Nexus, nexus, nexus, aahhhh, NEXUS! The mere word can send a chill down the spine of a taxpayer who suspects its activities in a state may have created that sufficient “connection” or “tie” to subject him to a state’s income or other business tax, or to be subject to a state’s sales tax collection requirement. […]
The Main Street Fairness Act: Explaining Internet Sales Taxes
Legislative Update: On July 1, 2010, House Bill (H 5660), was introduced in Congress by Massachusetts representative, William Delahunt. The Bill, named the “Main Street Fairness Act“ states that its purpose is to “promote simplification and fairness in the administration and collection of sales and use taxes, and for other purposes.”My guess is by now, […]
Florida Amnesty Begins July 1st: Another State Jumps on the Amnesty Bandwagon
SALT Alert: As the trend in State Tax Amnesties continues, we have yet another state that has instituted a tax amnesty program. In response to Florida H.B. 5301, the Florida Department of Revenue (“the Department”) has developed and implemented a one-time tax amnesty program which runs from July 1 through September 30, 2010. Florida’s amnesty […]
Massachusetts Limited Amnesty Program for Taxpayers with Existing Business Tax Liabilities Begins April 1, 2010
SALT Alert: On March 12, 2010, the Massachusetts Department of Revenue (“the Department”) issued Technical Information Release (“TIR”) 10-5, Limited Amnesty For Taxpayers With Existing Business Tax Liabilities, in which the Department announced the details of a limited amnesty program which goes into effect today, April 1, 2010. This two month limited amnesty program will run […]