State and Local Tax

MA Form 3ABC due by 3/1 to avoid local property taxes
Editor’s Note: This article was updated in 2025 for accuracy and relevance. The Massachusetts Return of Property Held for Charitable Purposes Form 3ABC provides for an exemption from local taxation on personal and real property for eligible charitable organizations. As a reminder, to be exempt, you must file an annual Form 3ABC, due at the Assessor’s […]

How Life Sciences May Be Affected by New Administration Tax Policies
In this article: For clients in the life sciences, tax policies often hinge on a shifting political landscape. This means, each new administration may signal changes that could reshape strategies in the coming year and beyond. Understanding emerging policies will be key in 2025 for areas like M&A timing, R&D cost management, and structuring for […]

Use Tax Audits on the Rise
AAFCPAs would like to make clients aware that there has been an increase in the number of use tax audits being conducted in various states. As jurisdictions look to increase tax revenue, use tax audits may be considered a simple way to drive revenue through tax collections, penalties, and interest. What is use tax? While […]

Best Practices for Foreign Companies Establishing a U.S. Presence and Hiring U.S. Employees
Foreign companies entering the U.S. have a lot to consider from a tax, accounting, and legal perspective prior to commencing operations in the U.S. Because establishing a legal entity can take time to complete, with multiple steps and potential bottlenecks to accommodate, AAFCPAs advises that clients understand the timeline and plan accordingly. The first step […]

Los Angeles and San Francisco City Taxes Due
While most taxpayers are focused on federal and state tax obligations, city taxes can often slip under the radar, leading to potential oversights. AAFCPAs would like to make clients aware that two California city taxes affecting businesses in Los Angeles and San Francisco are due February 29, 2024. Los Angeles City Tax This is a […]

Tax Season Brings Rise in Cyber Crime
Cybercriminals are looking for ways to capitalize on tax season, with scams on the rise as businesses and individuals prepare to file returns. This means the simple act of opening an email or answering a call could put you at risk of identity theft or return preparer fraud. Making matters worse is a rise in […]

Colorado and Minnesota Impose Retail Delivery Fee
AAFCPAs’ State & Local Tax (SALT) practice would like to make clients aware that the state of Colorado and Minnesota have enacted a retail delivery fee. Colorado Updates Rule The state of Colorado originally imposed a fee of $0.27 on all retail sales delivered by motor vehicle to Colorado customers effective July 2, 2022. This […]

Cap Table Maintenance Streamlines Tax Compliance
AAFCPAs advises clients to maintain their capitalization (cap) table throughout the year to avoid frustration, delays, and a compressed tax filing deadline. Accurate and up-to-date information: By maintaining the capitalization table throughout the year, businesses can ensure that the information is accurate and up-to-date, reflecting any changes in ownership, equity investments, and other capital transactions […]

Delaware Franchise Tax Reminder
AAFCPAs would like to make clients aware that all companies incorporated in the state of Delaware are required to file an annual report and pay an annual franchise tax to Delaware each year by March 1st. We have outlined for your convenience two methods of calculating the franchise tax you owe: the authorized shares method, […]