Los Angeles City Business Tax: What You Need To Know

Companies and individuals doing business in the City of Los Angeles and its neighboring cities may find themselves subject to the annual Los Angeles City Business Tax (LACBT), due on February 28, 2023. With work-from-home arrangements becoming more common, along with broad nexus standards, companies may find themselves unexpectedly triggering a filing obligation or increasing/decreasing…

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New Portland Tax Alignment for City, County, and Metro Approved

New Portland Tax Alignment for City, County, and Metro Approved

The Portland City Council recently voted to simplify the sales factor apportionment for businesses in the area. These approved changes would allow Portland, Multnomah County, and Metro taxing authorities to use the state’s sales factor apportionment starting on or after January 1, 2023. The update aims to reduce the differences between jurisdictions and enables them…

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KBF Sales and Use Tax Newsletter – 3rd Quarter 2022

KBF’s quarterly newsletter updates clients on sales and use tax news, developments, and trends from around the country. This edition features updates on marketplace seller clarifications, the tax treatment of digital goods and digital advertising, and tax treatment of IT as a service and other information services. Learn more about these developments by downloading the…

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KBF Sales and Use Tax Newsletter – 2nd Quarter 2022

KBF’s quarterly newsletter updates clients on sales and use tax news, developments, and trends from around the country. This edition features updates on the tax treatment of digital goods, interstate transactions, and lease of equipment. Learn more about these developments by downloading the newsletter here.

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U.S. Withholding Taxes for Payments to Foreign Persons

Whilst the United States (“U.S.”) taxes its citizens, residents, and domestic corporations on their worldwide income, nonresident individuals and foreign entities (collectively, foreign persons) are generally taxed on only four categories of income. The U.S. may impose a tax on a foreign person without legal jurisdiction over that foreign taxpayer sufficient to fully enforce compliance…

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KBF Sales and Use Tax Newsletter – 1st Quarter 2022

KBF’s quarterly newsletter updates clients on sales and use tax news, developments, and trends from around the country. For this edition, we feature updates on state rulings for which goods and services are taxable and which are exempt. Learn more about these developments by downloading the newsletter here.

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California Unclaimed Property Tax Compliance

Summary Beginning in 2022, the California Franchise Tax Board (FTB) will require most businesses to disclose the status of their unclaimed property compliance on their business tax returns.  This information will be shared with the State Controller’s Office (SCO) with the purpose of increasing the awareness of, and compliance with, unclaimed property reporting requirements.  To…

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