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Archive for May 2018

FDA ANNOUNCES NEW PLAN FOR TOBACCO AND NICOTINE REGULATION

The FDA will be implementing new regulations with the objective of reducing the overall health effects of tobacco on the public. Approximately two and a half years ago, the deeming rule came into effect on August 8, 2016, which was the start of the FDA regulation of what is known as “All Other Tobacco Products.”…

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CHICAGO PASSES NICOTINE PRODUCTS TAX

Effective January 1, 2016, the City of Chicago enacted a local tax on “nicotine products.” Chicago has always been notorious for its aggressive tactics in cigarette and tobacco tax collection and positions. Chicago joins the list of many states and other local governments in their efforts to tax the growing e-cigarette industry. The tax was enacted…

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The Most Common Reasons Why People Owe the IRS Back Taxes

Who: Small Business Owners, Self Employed Individuals, and Independent Contractors Individuals who end up owing the IRS money tend to have the same situations occur. One of the monumental reasons taxpayers owe IRS tax debts is not adhering to the pay as you go requirements for tax payments to the IRS. The IRS does not…

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South Carolina Motorsports Complex Exemption Added

South Carolina has enacted a state and local sales tax exemption for materials used in the construction or repair of a motorsports entertainment complex. Effective July 2, 2018, the exemption applies to items used to construct, repair, or improve a complex such as building materials, supplies, fixtures, and equipment. To claim the exemption, a qualifying company…

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Are Admissions Subject to Sales Tax in Georgia?

Are you in the business of selling tickets, or admissions, to entertainment and sporting events?  If so, your sales are likely subject to Georgia sales tax.  Many business owners mistakenly believe that sales tax is limited to the tangible personal property sold at their location.  For example, a restaurant or bar owner likely has POS…

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