Kelly Zack
Important Changes To New Hampshire Business Profits Tax
AAFCPAs would like to make clients aware, if you are subject to New Hampshire’s Business Profits tax, there are two significant 2022 legislative updates which address net operating losses and combined reporting. Tax Information Release (TIR) No. 2022-003 modifies the calculation of the net operating loss (NOL) carryover deduction for tax years ending on or […]
AAFCPAs’ Business Transaction Advisory Team Provides Insight for Business Sellers
The Accountant’s Role in M&A – Value-Added Services AAFCPAs’ Business Transaction Advisory team will present an educational session on October 11th for Exit Planning Exchange (XPX) Greater Boston Chapter members, who include the finest merger/acquisition (M&A) and succession planning professionals in New England. Jack Finning, CPA, CGMA, CBEC will be joined by a panel of […]
Maryland SaaS Taxability
AAFCPAs would like to make clients aware of new Maryland sales tax legislation, which effectively narrowed the definition of digital products and changed the sales taxability of Software as a Service (SaaS), effective July 1, 2022. Background In March 2021, Maryland’s Office of the Comptroller issued guidance on digital products and announced that SaaS would […]
Pennsylvania Corporate Income Tax Changes
AAFCPAs would like to make clients aware, if you are subject to Pennsylvania’s corporate income tax, there are two significant changes instituted pursuant to H.B. 1342, signed by the governor on July 8th, 2022, effective starting in 2023. CORPORATE TAX RATE The current Corporate Net Income Tax (CNIT) rate is 8.99%. There will be an […]
Easing the burden of cannabis state tax compliance
Keeping pace with state sales and excise tax requirements can be a significant burden for cannabis operators. The indirect nature of the tax – that it is collected at point of sale as part of a transaction and then must be remitted to the state(s) on their specific timeline – makes it an area of […]
Important Changes To Vermont Corporate Income Tax
AAFCPAs would like to make clients aware, if you are subject to Vermont’s corporate income tax, there are several significant changes instituted pursuant to S.B 53, an act relating to changes to Vermont corporate income tax and conformity to federal tax laws, which will be effective for tax years beginning on or after January 1, […]
New Colorado Retail Delivery Fee
AAFCPAs would like to make clients aware, if you sell tangible property to customers located in Colorado, there is an important change coming that could significantly affect the amount of tax you need to collect from your customers. Effective July 1, 2022, the Colorado Department of Revenue will be instituting a new Retail Delivery Fee […]
DOR Update: 2022 Sales & Use Tax Returns Changes
AAFCPAs would like to make clients aware of some recent changes instituted by the Massachusetts Department of Revenue (DOR) related to 2022 Sales and Use Tax Returns, including forms related to sales tax on services and meals, room occupancy excise tax, and marijuana retail tax. New lines will be added to the Sales Tax on […]
Watch Now: 2021 Year-End Tax Planning & Compliance for Privately Held Companies
AAFCPAs Tax Leaders provide an overview of what you need to know heading into year-end 2021. Congress tends to enact tax law changes every year. They also tend to put off passing tax legislation until the 11th hour. As we approach the end of 2021, this continues. AAFCPAs monitors closely the status of emerging legislation, […]