General
New Oregon Pass-Through Entity-Level Business Alternative Income Tax
Senate Bill 727 (SB 727) was introduced as Oregon’s response to the enactment of The Tax Cuts and Jobs Act (TCJA) and the IRS Notice 2020-75. TCJA imposed a limit on the amount of state and local taxes that an individual may deduct from federal taxable income each year. IRS Notice 2020-75 clarified that state…
Read MoreKBF Sales and Use Tax Newsletter – 4th Quarter 2021
KBF’s quarterly newsletter updates clients on sales and use tax news, developments, and trends from around the country. For our fourth edition, we feature updates on the multistate trend of taxing profits from digital advertising and data mining. We also highlight updates from more states on the classification and taxability of digital goods. Learn more…
Read MoreCalifornia 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…
Read MoreNew 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…
Read More2022 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…
Read MoreOregon-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…
Read MoreTax 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…
Read MoreTax 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…
Read MoreKBF Sales and Use Tax Newsletter – 1st Quarter 2021
KBF’s quarterly newsletter updates clients on sales and use tax news, developments, and trends from around the country. For our first edition, we feature updates on economic nexus laws in various states as well as sales tax on digital products. Learn more about these developments by downloading the newsletter here.
Read MoreEmployee 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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