Tax & Accounting Blog

The Challenges and Success Tactics behind One of Fortune Magazine’s ‘World’s Most Admired Companies’

The Challenges and Success Tactics behind One of Fortune Magazine’s ‘World’s Most Admired Companies’

Jones Lang LaSalle was able to meet their goal of mitigating the risk of transfer pricing penalties and adjustments through a solution which enabled them to streamline the information gathering process for its transfer pricing reports. Similar to many tax departments today, Jones Lang LaSalle, a financial and professional services firm, specializing in … Read More

Maine Includes Medical Marijuana Brownies Under Prepared Food Rate

Maine Includes Medical Marijuana Brownies Under Prepared Food Rate

When Maine first approved medical marijuana, it was decided that marijuana provided for medical purposes would be subject to the 5 percent state sales tax.  Now, lawmakers have issued an opinion that  brownies including medicinal marijuana fall under the higher prepared food rate of 7 percent.  Opponents are upset, saying that medicine should not be … Read More

Washington Governor Proposes Half-Cent State Sales Tax Increase

Washington Governor Proposes Half-Cent State Sales Tax Increase

Washington’s Governor is asking for a vote on a temporary half-cent increase to the state sales tax rate, making the rate 7 percent.  This temporary measure would last for three years, mostly going towards education and a portion going towards public services.  Last year voters rejected several tax increases but the governor says that residents … Read More

Repealed! President Signs Tax Law Repealing the Requirement for Federal, State and Local Governments to Withhold 3% of Many Payments to Vendors

Repealed! President Signs Tax Law Repealing the Requirement for Federal, State and Local Governments to Withhold 3% of Many Payments to Vendors

Thursday morning, November 21, the President signed H.R. 674, which enacts repeal of Section 3402(t) of the Internal Revenue Code – that is, the requirement for federal, state and local governments and their agencies and instrumentalities to withhold 3% federal income tax from many payments for services and payments for property (tangible property such as goods, … Read More

How We Listened @ the 2011 ONESOURCE Global User Conference

How We Listened @ the 2011 ONESOURCE Global User Conference

226 tweets, 204 written comments, 10 listening sessions and dozens of ONESOURCE client interviews were all captured in just three days at the recent ONESOURCE User Conference in Miami. By allowing our clients to tweet (#ONESOURCEuc), stop by the “We’re Listening” booth to speak directly with Thomson Reuters executives, leave an anonymous written comment, and … Read More