Accounting
Tax changes brewing for online alcohol marketplaces
A potent mash of alcohol regulations, tax obligations and marketplace facilitator laws is brewing as the industry adjusts to living with the COVID-19 pandemic. Original Article Posted at : https://www.accountingtoday.com/opinion/tax-changes-are-brewing-for-online-alcohol-marketplaces
Read MoreTax changes are brewing for online alcohol marketplaces
A potent mash of alcohol regulations, tax obligations and marketplace facilitator laws is brewing as the industry adjusts to living with the COVID-19 pandemic. Original Article Posted at : https://www.accountingtoday.com/opinion/tax-changes-are-brewing-for-online-alcohol-marketplaces
Read MoreTax strategy can help private equity firms unlock long-term value
Amid regulatory change, margin pressure and technological shifts, private equity firms need to rethink their approach to tax and finance functions. Petter Wendel, EY global tax private equity leader, shares how based on findings from the 2020 EY Tax and Finance Operate Survey. Original Article Posted at : https://www.accountingtoday.com/opinion/tax-strategy-can-help-private-equity-firms-unlock-long-term-value
Read MoreSugar Taxes Back on the Menu
After a few years without much attention, taxes on sugar-sweetened beverages (SSBs) are back in the headlines, with at least four states—Connecticut, Hawaii, New York, and Washington—considering such statewide taxes. Today, only localities (10 at the time of writing) levy excise taxes on sugary drinks in the U.S., but that could change this year. In…
Read MoreIllinois governor’s budget cuts costs, corporate tax breaks
Illinois Governor J.B. Pritzker is seeking to cut spending and end some corporate tax breaks to help close the worst-rated state’s nearly $3 billion deficit in the coming fiscal year. Original Article Posted at : https://www.accountingtoday.com/articles/illinois-governors-budget-cuts-costs-corporate-tax-breaks
Read MoreSmoking High Excise Taxes on Vapor Products Could Be Coming to West Virginia
West Virginians would face extraordinarily high taxes on vapor products in state if Senate Bill 68 becomes law. The bill, sponsored by Sen. Ron Stollings (D) and Sen. Richard Lindsay (D), would increase taxes on liquid used in vapor products from 7.5 cents per milliliter (ml) to $1 per ml—an increase of over 1,300 percent.…
Read MoreKPMG speaks out against Asian-American violence
Paul Knopp, KPMG U.S. Chair and CEO, posted an internal message on LinkedIn reiterating the firm’s condemnation of “discrimination, harassment or racism” against Asian-Americans during the COVID-19 pandemic. Original Article Posted at : https://www.accountingtoday.com/news/kpmg-speaks-out-against-asian-american-violence
Read MorePandemic-Era Unemployment Compensations Could Generate $78 Billion in Income Tax Collections
Since the start of last year, the federal and state governments have spent nearly $600 billion on unemployment compensation payments, compared to the prior level of about $30 billion a year. It’s a lot of money—and it’s taxable at the federal level and in many states. Through February 13th, the federal government has spent $441…
Read MoreYouTube star deserts California for Puerto Rico over taxes
The pandemic has fueled a dramatic new wave of high-profile migration, sending tech workers to Texas, Wall Street types to Florida — and now YouTube provocateur Logan Paul to Puerto Rico. Original Article Posted at : https://www.accountingtoday.com/articles/youtube-star-logan-paul-deserts-california-for-puerto-rico-thanks-to-taxes
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