Welcome to our State and Local Resource Center.
With all the changes going on in regulation and legislation, we wanted to create a spot where you could check for breaking news when it occurs.
Recently, Kentucky House Bill 487 passed, which contained significant changes to Kentucky tax laws. For purposes of this communication, we would like to highlight one major change regarding Kentucky Sales Tax and its effect on nonprofit organizations. This new bill requires that, as of July 1, 2018, organizations charge and collect 6% sales tax on service […]
The U.S. Supreme Court has given state and local governments the green light to impose sales taxes on out-of-state sellers, including ones that deal in online sales. The 5-4 decision in South Dakota v. Wayfair, Inc. was met by cheers from brick-and-mortar retailers, who have long believed that the high court’s previous rulings on the […]
In late June, the U.S. Supreme Court issued a decision that significantly changed the sales and use tax collection requirements for the vast majority of online retailers and out-of-state sellers. On June 21st, the court issued a decision in South Dakota v. Wayfair case ruling that a substantial economic presence is all that is required […]
Resources [ Hot Topic] Tax Alert: Sales Tax in Kentucky Recently, Kentucky House Bill 487 passed, which contained significant changes to Kentucky Tax laws. For purposes of this communication, we would like to highlight one major change regarding Kentucky Sales Tax. This new bill requires that, as of July 1, 2018, certain service businesses […]
Resources [ Hot Topic] Supreme Court Ruling Allows States to Collect Sales Taxes Without Physical Presence On Thursday, June 21, 2018, the Supreme Court of the United States ruled in favor of South Dakota in the case of South Dakota v. Wayfair, Inc. The impact of this ruling is to remove the requirement that a company […]
Resources [ Hot Topic] The state and local sales tax deduction remains to an extent but is subject to a new limitation Individual taxpayers who itemize their deductions can generally deduct either state and local income taxes or state and local sales taxes. The ability to deduct state and local taxes — including […]
Resources [ Hot Topic] States are Aggressively Pursuing Sales Tax: Are You Ready? In 1992, the U.S. Supreme Court case of Quill vs. North Dakota established the precedent that a state could not require a company to collect and remit sales tax without a physical presence within that state. However, internet and other remote […]
Kentucky sales tax applies to retail sales of tangible personal property, as well as the provision of specified services. However, as is the case with most things in the tax world, there are exceptions to the general rule. Taking advantage of these exceptions can save a company considerable amounts of money. Supplies, Tools, and Materials […]