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Archive for August 2019

Week Before FL Corporate Income Tax Returns Due, DOR Makes New Rules

On August 26, 2019, the Florida Department of Revenue issued a Tax Information Publication, or TIP, addressing new requirements for reporting Florida corporate income/franchise tax returns. Accountants and CPAs who have previously filed returns for 2018 are left with little notice to make potentially substantial changes for each and every one of their clients. The…

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Bad Debts – An Overlooked Sales Tax Exemption

Bad debts are often carefully considered for federal tax purposes but overlooked when it comes to sales tax. It is common for businesses to fail to collect the total balance of their sales. These bad debts are generally remembered when it comes to calculating income for federal returns and even state income tax returns. However,…

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Manufacturing – An Overlooked Sales and Use Tax Exemption

Many states offer unique and specific manufacturing exemptions that can provide great savings to those who are aware of them. Sometimes these exemptions come about by the state alone, which is interested in enticing big businesses to move into the state to provide jobs to its residents. Other times, businesses already located within the state…

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Taxpayer Takes on Amazon in CA Sales Tax Case

Since 2017, California’s Department of Tax and Finance Administration (CDFTA), formerly the Board of Equalization, has been tormenting businesses that use Amazon’s FBA services for sales tax liabilities. Many FBA sellers received a notice the reminded them that  in California has their company’s name, address, and EIN.  Following that notice California has aggressively pursued FBA sellers for…

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Florida’s Corporate Income Tax Update & TAA 18C1-011

In the area of state corporate income tax, determining the location of the income is critical for companies and states alike.  In general, a company takes its total income and determines, or “apportions” it, to a particular state depending on the amount of activity in that state that resulted in the corresponding income.  Example:  Company…

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