General
Navigating State Tax Nexus in the Digital Age
In today’s interconnected world, understanding state tax nexus is crucial for businesses of all sizes. The concept of nexus, the requisite connection between a business and a jurisdiction that allows…
Read MoreR&D Tax Credit Reporting: New Rules, New Requirements
The federal research and development (R&D) tax credit, while a valuable incentive, has long been known for its complexity. The tax return itself has historically been relatively straightforward, the IRS…
Read MoreKBF State Income Tax Newsletter – 4th Quarter 2024
KBF’s quarterly newsletter updates clients on state and local income/franchise tax news, developments, and trends. Please note that this information is for discussion purposes only and does not constitute specific…
Read MoreKBF Sales and Use Tax Newsletter – 4th Quarter 2024
Here are recent court rulings, legislation, and administrative changes that have significantly impacted sales tax landscapes across the country. California extended the sales and use tax filing deadline for businesses…
Read MoreCalifornia Wildfire Relief: Tax Filing and Payment Deadlines Extended
In response to the devastation caused by recent wildfires, various tax agencies have implemented filing and payment extensions to support affected individuals and businesses in Los Angeles County. This relief…
Read MoreLouisiana Overhauls Tax Code with Sweeping Changes
Louisiana recently enacted a comprehensive tax reform package, significantly altering the state’s tax landscape. Signed into law by Governor Jeff Landry on December 5th, the legislation includes: Corporate Tax Changes…
Read MoreLouisiana Expands Sales Tax to Digital Goods
Effective January 1, 2025, Louisiana sales and use tax now applies to digital products. The definition of “digital products” includes: Digital audiovisual works Digital audio works Digital books Digital codes…
Read MoreNo Sales Tax on Manufacturing Test Equipment in Virginia
The Virginia Department of Taxation has clarified that testing equipment used during the manufacturing process is exempt from sales tax. This exemption applies to equipment used to test products before…
Read MoreTennessee Adopts Streamlined Sales Tax Sourcing Rules
Effective July 1, 2024, the Tennessee Legislature adopted the Streamlined Sales Tax sourcing rules for a retail sale of a product from outside of Tennessee into Tennessee. Sales are generally…
Read MoreNorth Carolina Repeals Sales Tax Transaction Threshold
Effective July 1, 2024, the North Carolina Department of Revenue removed the number of transactions as a factor in determining economic nexus in the state. Remote sellers exceeding $100,000 in…
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