Taxes
New FinCEN Beneficial Ownership Information Reporting Requirement under Corporate Transparency Act
The Corporate Transparency Act (“CTA”) is a new U.S. federal law that was enacted in 2020. The CTA provides certain…
New Calculation Method for Small Business Size Standards
The US Small Business Administration (SBA) announced that it is altering the method for calculating average annual receipts, which are…
The Good News About Build Back Better Act (BBBA) Not Moving Forward
The Full Story The BBBA eliminates a permitted exclusion in the Net Investment Income tax provisions by subjecting all trade…
The Bad News Not Being Reported on the Demise of the Build Back Better Act
At a glance The main takeaway: With the demise of the Build Back Better Act (BBBA), a clause from a 2017…
1031 Exchanges –Navigating Related Party Exchanges
At a glance: The main takeaway: With careful tax planning, 1031 exchanges offer taxpayers an opportunity for big savings on income…
Dissecting Maryland’s Taxation of Digital Products: Part 2 – The Treatment of Software as a Digital Product
Earlier this year, the Maryland General Assembly enacted House Bill 932, which amended the state’s sales tax laws to make…
Texas Court Rules That Excavation Equipment Qualifies for Sales Tax Exemption
By: Tina Chunn, SALT Senior Manager At a glance The main takeaway: Manufacturers who are paying sales tax on machinery…
Buying a Business’s Assets? Don’t Ignore State Tax Successor Liability Issues
By: Jess Johannesen, SALT Senior Manager At a glance The main takeaway: Thorough state tax due diligence and analysis are…
3 State and Local Tax Resolutions for 2022
By: Jeff Glickman, SALT Partner At a glance The main takeaway: Addressing state and local tax risks and savings opportunities…