Tax & Accounting Blog

Georgia Passes Alternative Ad Valorem Tax on Motor Vehicles

Georgia Passes Alternative Ad Valorem Tax on Motor Vehicles

Georgia State Legislators have passed a new alternative ad valorem tax on motor vehicles applicable for tax years beginning on or after 01/01/2014. The new legislation allows for certain vehicles covered under the International Registration Plan (IRP) to an annual alternative ad valorem tax which will be collected at the same time as the IRP … Read More

onesource

Highlights of the Form 1042-S Changes

As we alerted readers in an earlier blog post, the IRS has published the highly anticipated draft of an all-new Form 1042-S, Foreign Person’s U.S. Source Income Subject to Withholding, for use in reporting 2014 income payments (reporting you will do in 2015). A copy of the draft form is available to view on the … Read More

Personal Property Exemption Changes in Idaho

Personal Property Exemption Changes in Idaho

Idaho legislation has enacted House Bill H315 (effective retroactive to  1/1/2013), which provides an exemption from property taxes for the first $100,000 of a taxpayer’s personal property that is not otherwise exempt from taxation, except for certain vehicles that a registration fee has not been paid. Taxpayers must file an application for the exemption. Previously, … Read More