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New York Tax Law Updates

Mandatory New-Hire ProceduresBeginning October 26, 2009, employers are required to notify all new employees in writing of their rate of pay, regular payday and overtime rate (if applicable). In addition, the law requires the employer to obtain written acknowledgment from…

Should You Be Paying Your Taxes Electronically?

Keywords: SALT, tax

The economic downturn has hurt state governments as much as taxpayers. With states in need of money, it’s no surprise that the number of states requiring electronic payment of taxes for both businesses and individuals is on the rise. Electronic…

Service Providers Beware: You Could Have Nexus in California Without Having Physical Presence

Keywords: California, FIN 48, fin48, SALT, tax

California’s 2009–2010 budget, which was signed by Governor Arnold Schwarzenegger on February 20, 2009, contains significant changes to California tax law. These changes could impact companies with sales to California customers even if the companies do not have a physical…

Rood to Present "State and Local Tax Update" at the Illinois CPA Society 29th Annual Midwest Accounting & Finance Showcase

Keywords: SALT, state and local tax, tax

Deb Rood, Senior Tax Manager, will co-present "State and Local Tax Update" at the Illinois CPA Society 29th Annual Midwest Accounting & Finance Showcase August 25, 2009 at the Donald E. Stephens Convention Center in Rosemont, Illinois.Hear the latest state…

Illinois Ends Deduction for Reasonable Compensation Paid to Partners

Keywords: FIN 48, fin48, SALT, tax

On July 16, 2009, Illinois Governor Pat Quinn signed SB 1912 into law, which ends the deduction for the greater of personal service income or a reasonable allowance for the compensation of partners on Illinois partnership returns for tax years…

California Now Processing a Portion of Pre-2007 LLC Fees

Keywords: California, SALT, state and local tax, tax

What is the California LLC fee?: California imposes a fee of up to $11,790 on LLCs that are organized in California, are registered with the Secretary of State to transact business in California or are doing business in California. This…

Sheth Interviewed by Accounting Technology

Keywords: Illinois sales and use tax, SALT, state and local tax

Prashant Sheth was recently interviewed by Accounting Technology magazine regarding Illinois sales and use tax. The article, "All Their Nexus Ain't in Texas," discusses the increasing utilization of accounting firms' state and local tax (SALT) practices as states become more…

Rood to Present at the Illinois CPA Society Business Tax Conference

Keywords: SALT, state and local tax

Deb Rood will present "State and Local Tax Update" at the Illinois CPA Society's 2009 Business Tax Conference on Tuesday, May 19, 2009. Her session will provide an overview of what's hot in state taxes, including Illinois' new apportionment rules…

Sheth Quoted by The Weekly of Business Aviation

Keywords: Illinois luxury tax, SALT, state and local tax

The Weekly of Business Aviation has quoted Prashant Sheth in its March 9, 2009, issue regarding the Illinois luxury tax. In the article titled, "Illinois Proposes Luxury Tax on Aircraft Purchases," Prashant explains that because of the current budget crisis…

Come Clean with Illinois Use Tax!

Keywords: Illinois use tax, SALT, state and local tax, tax

The Illinois Department of Revenue (IDOR) has initiated an aggressive approach to collect unreported use tax. Taxpayers who IDOR believes have unreported use tax are being contacted and allowed to "voluntarily report" their past due use tax liability within 60…

Mandatory Illinois Nonresident Withholding Begins with 2008 Tax Filings

Keywords: Illinois non resident withholding, SALT, state and local tax, tax

Effective for taxable year ending on or after December 31, 2008, new withholding requirements apply to all pass-through entities with Illinois business income.Who is required to withhold?: All pass-through entities that have Illinois income for a taxable year allocable to…

New Year, New Chicago Tax Rates

Keywords: Chicago tax, SALT, state and local tax, tax

With the projected budget deficit, the city of Chicago is once again raising some of its taxes. We frequently find that taxpayers are unaware about the myriad of local taxes that apply to businesses located in Cook County and Chicago.…

Rood to Speak at Sales and Use Tax Seminar on Dec 12

Keywords: SALT, state and local tax

Deb Rood, Senior Tax Manager, speaks at the Sales and Use Tax Seminar on Dec. 12, 2008, in Downers Grove, IL. This seminar provides the perfect opportunity to get the most current information on all the aspects of complicated sales…

Guidance Issued on New Required Information Reporting in Maryland—Potential Penalties of $10,000 per Day for Noncompliance

Keywords: Maryland, SALT, state and local tax, tax

Maryland's new information reporting requirement adds a significant burden to C corporations filing in Maryland. We believe the legislature plans to use the information gathered to estimate the change in revenue if certain changes to the tax law are made.…

Wisconsin Software Refund Opportunity

Keywords: SALT, software refund, state and local tax, tax, Wisconsin

On July 11, 2008, the Wisconsin Supreme Court made a landmark decision in the case of the Wisconsin Department of Revenue v. Menasha Corporation. Menasha purchased SAP R/3 System software and sales tax was collected on the purchase price. This…

Ohio Appellate Court Holds Commercial Activity Tax (CAT) on Food Products to be Unconstitutional

Keywords: CAT, Commercial Activity Tax, Ohio, SALT, state and local tax, tax

In a judgment rendered on September 2, 2008, by the Court of Appeals of Ohio in Ohio Grocers Association et al. v. William W. Wilkins in His Official Capacity as Ohio Tax Commissioner (Ohio), the Ohio CAT was held unconstitutional…

California Appellate Court Holds LLC Fee Unconstitutional

Keywords: California, SALT, state and local tax, tax

In a judgment filed on August 11, 2008 by the California Court of Appeal (the Court) in Ventas Finance, LLC (Ventas) v. California Franchise Tax Board (FTB), the Limited Liability Company (LLC) gross receipts fees were held unconstitutional. The Court…

California Appellate Court Holds LLC Fee Unconstitutional

Keywords: California, franchise tax, SALT, state and local tax, tax

In a judgment filed on August 11, 2008 by the California Court of Appeal (the Court) in Ventas Finance, LLC (Ventas) v. California Franchise Tax Board (FTB), the Limited Liability Company (LLC) gross receipts fees were held unconstitutional. The Court…

Sheth Article Published by UIC Family Business Center

Keywords: manufacturing, SALT, state and local tax

Prashant Sheth, Tax Partner, leads Blackman Kallick's State and Local Tax Practice. Prashant's article, "Illinois Offers 5% Sales Tax Credit on Production-Related Tangible Personal Property," was published in the August 2008 issue of the UIC Family Business Council eNewsletter. The…

Got Sales and Use Tax Issues?

Keywords: SALT, state and local tax, tax

Sales and use tax is a significant revenue source for state governments. Historically, sales and use tax has accounted for close to half of all state tax revenue. Sales tax has been imposed on the purchase of tangible personal property…

Illinois Offers 5% Sales Tax Credit on Production-Related Tangible Personal Property

Keywords: Illinois sales tax credit, manufacturing, SALT, state and local tax, tax

On January 11, 2008, the state of Illinois enacted Public Act 095-0707 (the Act), which has temporarily expanded the sales tax exemption for manufacturing machinery and equipment to include production-related tangible personal property (property purchased on July 1, 2007 through…

Blackman Kallick provides audit, tax and consulting services for privately held and public companies as well as not-for-profit organizations.

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