California Sales and Use Tax Exemption

Background California allows qualifying manufacturers and certain research and developers a partial exemption from sales and use tax on various purchases of machinery and equipment used primarily for manufacturing, research, and development activities.  Additionally, the state expanded the partial exemption to certain power generators and distributors for equipment used for power generation, production, storage or…

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New KBF Director of Talent Acquisition

Please join us in welcoming our newest team member – April Dennis. April joins KBF in our newly created Director of Talent Acquisition role. Prior to joining KBF, April spent more than ten years with KPMG and joins us from their TA leadership team. Throughout her career, April has managed various HR programs and communication…

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2022 Partner Promotions

KBF CPAs LLP is pleased to announce the admission of Rob Buchan as an audit and advisory partner of our firm. With more than 15 years of public accounting experience, Rob has spent his entire career providing audit and advisory services to both public and private clients across a diverse range of industries. In his…

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Oregon-based Hemex Health receives funding for life-saving diagnostics device

Hemex Health has received the Innovation Award for its innovative portable diagnostics device which can help detect sickle cell, malaria, and other life-threatening diseases. Along with the Innovation Award, Hemex Health will receive funding from Oregon Lottery which funds programs and projects for Oregonians. This includes projects such as Oregon’s public schools, job creation, state…

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Tax Classification of Digital Transactions (Part 2 of 2)

Since the issuance of the original -18 Regulations in October 1998, the digital economy has evolved significantly. Floppy disks and downloads of content to our personal computers are no longer the principal means of delivering and accessing digital resources. Cloud computing is mainstream. Now pervasive, cloud computing affects many aspects of our digital experience at…

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Tax Classification of Digital Transactions (Part 1 of 2)

The U.S. international tax rules were developed in a “brick-and-mortar” economic environment. In general, the domestic tax laws and tax treaties contemplate transactions and investments involving physical property or physical services. The digitalization of the global economy has resulted in uncertainty in applying U.S. tax laws to transnational business. One of the most fundamental income…

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Employee Retention Credit Extended and Expanded

President Joe Biden recently signed into law the American Rescue Plan Act of 2021 (ARPA), considered to be one of the largest economic rescue packages in US history. Under the ARPA, the Employee Retention Credit (ERC) for small businesses is extended until December 2021. With this, the IRS issued detailed guidance for employers claiming the employee…

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San Francisco Voters Approve Increase in Gross Receipts Tax and New Tax on CEO Pay

On November 3, 2020, San Francisco voters approved two new tax measures impacting corporate taxpayers. Both measures were passed by voters with overwhelming majorities. Proposition F, or the Business-Tax Overhaul, supported by 68% of voters, will be effective in 2021. The measure provides relief for small businesses by raising the exemption ceiling for both business…

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