Oct 25, 2021 | Specialty Tax, Tax, Tax Compliance and Advisory
CALIFORNIA ASSEMBLY BILL (AB) 46 Assembly Bill 466 authorizes the Franchise Tax Board (“FTB”) to share certain information with the State Controller’s Office related to unclaimed property. Beginning tax year 2021, the FTB will include additional questions for...
Apr 5, 2021 | Specialty Tax, Tax, Tax Compliance and Advisory
NEW MEXICO CHANGES Effective for tax years beginning on or after January 1, 2021, New Mexico has changed its sourcing rule for sales other than sales of tangible personal property (i.e., services and intangibles) from cost-of-performance based sourcing to market-based...
Jan 12, 2021 | Specialty Tax, Tax
The Consolidated Appropriations Act, 2021 (the “Act”), which was signed into law a few weeks ago, extends and modifies the employee retention credit (“ERC”) to permit more taxpayers to take advantage of it. The ERC is a payroll tax credit available to taxpayers...
Dec 10, 2020 | Specialty Tax, Tax
This fall, California enacted (in SB 1447) a small business hiring credit for taxable years beginning on or after January 1, 2020 and before January 1, 2021 to assist taxpayers affected by COVID-19. The credit may be claimed against corporate and personal income...
Nov 20, 2020 | Specialty Tax, Tax
INTRODUCTION In November, 2020, California voters passed Proposition 19, which modifies the application of the several current propositions. Proposition 19, which will become Sections 2.1, 2.2 and 2.3 of Article XIIIA of the California Constitution, affects certain...
May 13, 2020 | Specialty Tax, Tax
In response to the COVID-19 outbreak, California along with numerous other states and other filing jurisdictions, have extended the filing period for Business Personal Property Taxes including extension of time to pay without imposing any additional penalties nor...
