One area of taxation that has seen significant change in the last few years is sales and use tax. Wegmann Dazet’s Allison Civello, CPA explains that due to changes to sales tax nexus, some businesses might not be paying required use taxes, or they might be paying the tax to the wrong jurisdiction, or they might be […]
During the 2021 regular Louisiana Legislative Session, Act 287 was passed for new Louisiana partnership requirements, and Richard Tullier, CPA and Allison Civello, CPA provide this summary. This Act requires all partnerships doing business in Louisiana to file the LA Form IT-565 and thus requires all partnerships to obtain a Louisiana Revenue Account Number.
Legislative Update! Louisiana Partnership Requirements Read More »
Allison Civello, CPA, discusses the new Louisiana law that provides an individual and corporate income tax exemption for COVID-19 relief benefits: Louisiana has enacted an exemption from individual and corporation income tax for state and federal COVID-19 relief benefits received. The law exempts from income any gratuitous grant, loan, rebate, tax credit, advance refund, or
Louisiana Update: Tax Exemption for COVID-19 Relief Benefits Read More »
Selling into Louisiana? Allison Civello writes about Louisiana’s amended economic nexus provisions. Starting July 1, 2020, joining other states post-Wayfair, Louisiana amends nexus for sales and use tax responsibilities to include marketplace facilitators. Louisiana now defines nexus as over $100,000 in sales per year or 200+ transactions, to out-of-state sellers and marketplace facilitators. Just over
Louisiana Amends Nexus; Adds Marketplace Facilitators Read More »
With income tax nexus and sourcing rules, (e.g. multi-state income tax), your income generated by activities or service delivery in other tax jurisdictions could be subject to tax. Allison Civello, Manager II with Wegmann Dazet, illustrates potential tax liability. Life moves faster than laws; tax laws can lag. Over the last year, we’ve seen a
Chances are good that in a conversation with a tax professional, you’ll hear the term “nexus.” Since it is used often, nexus must mean something important, but what is it? Allison Civello, Manager II with Wegmann Dazet, explains: Nexus quite simply is a relationship. In tax, it is the relationship between a tax jurisdiction
Does your company sell to, distribute in or operate in multiple states? With the variable cacophony of sales, use, income, franchise and gross receipts taxes across the country, trying to manage your activities in multiple jurisdictions without the support of an experienced team of CPAs can easily lead to a difficult audit by state taxing
What Your Company Does in Other States Can Cost You. Read More »
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