US Treasury Restricts Tax Inversions

While the Burger King acquisition of Tim Horton’s a few weeks ago caught many unaware, seemingly none more so than the United States Treasury Department.  A few weeks after BK acquired Tim’s and undertook a tax inversion that will save the company significant money in tax liability, the Treasury has promulgated new rules that make…

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Delaware Taxes Due By June 1

For those members who may have created your company in the generally business-friendly state of Delaware, we would point out that taxes for LLP and LP organizations based in Delaware are due by June 1.  Delaware law does not require that LLPs and LPs file an annual report, but they want their taxes on time…

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Obama Claims $19,000+ Tax Refund

Not particularly germane to anything, the 2013 joint tax return of President Obama and First Lady Michelle Obama has been released and made public by the White House.  We hear the President anxiously checks the mail each day for his $19,108 refund.  The Business Journal reports on 7 “fun facts” from the return.

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New Jersey and Illinois Top Nation in Property Tax Burden

Investment Advisory firm Regent Atlantic this week released a white paper showing that New Jersey, with the highest property tax burden in the nation was losing wealthy residents because of that tax burden, to Pennsylvania and Florida.  That news may not come as a surprise to wealthy residents of the Garden State, but the state’s…

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Tax Policies and Economic Outlook: How does your state rate?

Why does Utah rank on top in U.S. economic outlook, while Vermont is on the bottom? When you examine the tax policies of the United States, you can draw certain conclusions about how taxes and regulations impact small business owners. According to a recent study from the American Legislative Exchange Council (ALEC), a pro-business partnership…

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Shutdown Impacts Taxman!

The recent government shutdown had far-reaching implications in many areas of our economy, even reaching and impacting the Internal Revenue Service!  But alas, that impact was not what you would have hoped . . . the IRS this past week announced that as a result of the shutdown over the first 3 weeks of October,…

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Wyoming Business

Tax Foundation Puts New York Last For Tax Climate

Washington-based tax research group The Tax Foundation has released its annual State Business Tax Climate Index for 2014.  The report, as reported by the  Albany Business Journal, ranks New York state as being the worst business tax environment in the country.  Wyoming topped the list as the most tax favorable state in the union.  The…

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Maine Administration Eyes Eliminating County-based Taxes

Staunchly small government advocate and Maine Governor Paul LePage has his administration thinking outside the box as far as how to shrink government and relieve some of the pressure on Maine’s taxpayers.  They are currently looking at eliminating an array of county-based taxes across the state.

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Governor Signs North Carolina Tax Overhaul

We advised last week that the NC legislature had passed a complete overhaul of their tax code.  This week, we can officially tell you that Governor Pat McCrory signed the bill into law this past Tuesday.  The new tax code provides an array of tax cuts for businesses and individual tax payers.

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Time to renovate or remodel your Dunkin Donuts shop?

Time to renovate or remodel your shop?

Depending on where you are in your renovation/remodel cycle, now might be the time to remodel. Senators Bob Casey (D-Pa.) and John Cornyn (R-Texas) have introduced a bill to make permanent a 15-year tax depreciation schedule for restaurant improvements and new construction, leasehold improvements and retail improvements. The bill would allow restaurateurs, landlords and other…

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