Tax & Accounting Blog

South Dakota Gathers Enough Signatures To Bring Tax Increase To Vote

South Dakota Gathers Enough Signatures To Bring Tax Increase To Vote

 The Secretary of State has certified that a grassroots movement, Moving South Dakota Forward, has gathered more than the 16,000 required signatures to get a 1 percent state sales tax increase on the November 2012 ballot.  Although previous polling didn’t promise much support, voters will get a chance to make their choice on Measure 15 … Read More

Transfer Pricing Tops List of Leading UTP Disclosures

Transfer Pricing Tops List of Leading UTP Disclosures

Internal Revenue Service Commissioner Douglas Schulman, speaking at the national tax conference of the American Institute of Certified Public Accounts said that of the approximately 1,500 disclosures of Uncertain Tax Positions received, transfer pricing, research and development credits and business expenses topped the list of disclosures. The service views the UTP disclosures as a tool … Read More

ONESOURCE Unclaimed Property Welcomes Jim Doody

ONESOURCE Unclaimed Property Welcomes Jim Doody

Blog, ONESOURCE December 5, 2011

Starting today, Jim Doody has joined Thomson Reuters as a Senior Manager in the Boston office. Jim previously worked for The Gagnon Group LLC as Director of Unclaimed Property Services where he assisted clients with compliance issues, while providing unclaimed property services to Fortune 500 Companies. Before Gagnon, Jim served as Director for Kelmar Associates where he conducted … Read More

Michigan Supreme Court Strikes Down One Provision of the State’s New Tax Law Affecting Retirement Payments

Michigan Supreme Court Strikes Down One Provision of the State’s New Tax Law Affecting Retirement Payments

In an advisory opinion issued November 18 on the constitutionality of several provisions of the new Michigan tax law that concerns state income tax and withholding on retirement benefits, the state Supreme Court ruled that basing exemptions and deductions on “total household resources” violates the Michigan constitutional prohibition against a graduated income tax. That strikes down two subsections … Read More

SC Supreme Court Considering Sales Tax Exemption Case

SC Supreme Court Considering Sales Tax Exemption Case

The South Carolina Supreme Court is currently considering arguments in a case filed by Mathew Bodman that could eliminate the state’s 78 sales tax exemptions. The suit argues that the exemptions and tax caps contained in  S.C. Code Ann. §§ 12-36-2110 and 12-36-2120 are unconstitutional and should be removed. According to the plaintiff, the statutes’ tax … Read More