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KBF Sales and Use Tax Newsletter – 2nd Quarter 2024
Here are recent court rulings, legislation, and administrative changes that have significantly impacted sales tax landscapes across the country. State Attributes Third-party’s Activity to Taxpayer when Determining Nexus Arizona has effectively expanded the scope of its sales tax by determining that businesses utilizing in-state distributors have a physical presence and thus have sales tax obligations. This ruling aligns with a…
Read MoreOregon Voters to Decide on Additional Corporate Minimum Tax in November
Initiative Petition 2024-17 (IP-17) has qualified for Oregon’s November 5, 2024 General Election ballot; the measure is officially titled Oregon Measure 118, Corporate Tax Revenue Rebate for Residents Initiative (2024). If the measure passes, certain corporations will be subject to an additional minimum tax based on Oregon gross receipts. Additionally, the measure would significantly change…
Read MorePotential Minimum Tax on Large Oregon Businesses to Fund Rebates
Prospective ballot measure in Oregon (IP-17) would impose a minimum tax of 3% on the gross sales of corporations that have at least $25m in Oregon sales. The new minimum tax would be in addition to the current minimum tax levied by Or. Rev. Stat. § 317.090(2)(a)—the minimum tax which ranges from $150 to $100,000…
Read MoreKBF Sales and Use Tax Newsletter – 1st Quarter 2024
KBF’s quarterly newsletter updates clients on sales and use tax news, developments, and trends from around the country. In Alaska, the seasonal sales tax has been reinstated, making the tax rate 6% from April 1 to September 30. Meanwhile, remote retailers in Colorado that do not collect sales tax and haven’t met the economic nexus…
Read MoreImportant Updates to Multnomah County’s Preschool for All Income Tax
Multnomah County has adopted amendments to the Preschool for All income tax program aimed to improve tax administration and compliance. Some of these key changes include: Electronic Filing: The County wants to authorize the Tax Administrator to require electronic filing of tax returns through administrative rules. Pass-Through Income Deduction Clarity: The language regarding the deduction of pass-through…
Read MoreKBF Sales and Use Tax Newsletter – 4th Quarter 2023
KBF’s quarterly newsletter updates clients on sales and use tax news, developments, and trends from around the country. Several key sales and use tax updates emerged in the final quarter of 2023. Starting in January 2024, Georgia will start taxing digital products such as downloadable music and ebooks. Meanwhile, Iowa ended exemptions for certain business…
Read More2024 KBF Partner Promotions
KBF CPAs LLP is pleased to announce the admission of Chad Herman and Jon Skinner as tax partners of our firm. Chad Herman Chad has more than 30 years of experience in public accounting and leads our Middle Market Tax Services practice and team. He specializes in closely held businesses, pass-through entities, real estate, and…
Read More2024 KBF Director Promotions
We are pleased to announce the promotions of Emily Anderson, Alex Poe, Shannon Tran, and Ryan Wang. Emily Anderson Emily is an experienced tax professional with over 15 years of public accounting experience. Her focus on emerging growth and venture-backed companies, particularly in Software as a Service (SaaS) and pre-public Bio Pharma sectors, provides…
Read MoreKBF Sales and Use Tax Newsletter – 3rd Quarter 2023
KBF’s quarterly newsletter updates clients on sales and use tax news, developments, and trends from around the country. This edition provides the latest information on the tax status of remote software, digital goods, and virtual currencies in specific states. Additionally, it offers insights into recent updates regarding tax exemptions for select food items, as well…
Read MorePortland passes Downtown Business Incentive Program
Portland’s central city has witnessed a substantial exodus of businesses since 2019, with many relocating to nearby counties. The official vacancy rate for office spaces in the central business district stands at approximately 26%, though it is anticipated to be significantly higher and expected to continue rising. Among the primary obstacles cited by departing businesses…
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