Research and Experimentation Tax Credit: IRS Proposed Changes to Form 6765
Are you a taxpayer looking to claim a research and experimentation (R&E) credit? If so, you'll want to pay close attention to the recent developments...
Filtered by Author: Freed Maxick Tax Team
New York State Tax Update: IRS Provides Tax Relief for Recent Western New York Snowstorm
On December 2, 2022, the IRS issued NY-2022-08, which provides relief for victims of a severe winter storm that began on 11/18/2022. This relief...
Is Your Business Eligible for a New York Tax Credit of Up to $25,000?
New York State COVID-19 Capital Costs Tax Credit Program Now Available Until Program Funds are Exhausted If you are an independently owned and...
Retail Sales Tax Exemption: A Guide for Retailers and Buyers
If you’re a retailer, you are probably aware of your sales tax collection obligation to your state. If you’re a consumer, you expect to pay sales tax...
Capital Improvement vs Repair: What the New York Construction Industry Needs to Know
Contactors generally perform two types of transactions for sales tax purposes in New York; (1) performance of a capital improvement to real property,...
Unclaimed Property Reporting – What Your Business Needs to Know
One of the most unfamiliar state reporting obligations and exposure for companies is unclaimed property. Many companies may not be aware of, or fully...
State Tax Nexus Questionnaires: Answer with Care!
“If you ask one question, it will lead you to another, and another, and another. It's like peeling an onion.” ― Lemony Snicket, The End In efforts to...
Tax Effects of Intercompany Asset Sales: FASB's New Financial Reporting Requirements
ASU 2016-16 Adds Transparency and Simplifies Reporting The presently prescribed method of accounting for income taxes on the sale of assets between...