Tax & Accounting Blog

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Some 1099s Still Go to Corporations, Despite Repeal of the Big 1099-MISC Changes

Does the repeal of the 1099-MISC expansion mean all payments to corporations are now exempt from being reported? No, because some specific requirements to report payments to corporations are in effect under subsections of the tax code other than the one that was expanded in March 2010 and then repealed in April 2011. Payments to corporations that … Read More

South Carolina enacts sales and use tax nexus exemption for certain in-state distribution facilities

South Carolina enacts sales and use tax nexus exemption for certain in-state distribution facilities

On June 8, 2011, South Carolina passed new legislation that provides a temporary exemption from sales and use tax collection for certain in-state distribution facilities.  Under the new law, SB 36, a qualifying distribution center is not considered to have physical presence in South Carolina sufficient to establish a nexus with the state for sales … Read More

Tackling Compliance Risk

Tackling Compliance Risk

Trust Tax June 13, 2011

Changes in the financial regulatory climate over the past few years are causing wealth management organizations to reassess their vulnerabilities and update their strategies for mitigating compliance risk. No longer is audit readiness relegated to the back office or to the month preceding the annual auditor visit. Transparency is required throughout all levels and functions in … Read More

Still alive and kicking – proposed click-through nexus bill in California

Still alive and kicking – proposed click-through nexus bill in California

It’s back – proposed click-through nexus legislation.  On June 1, proposed click-through nexus bill passed the California Assembly and is now pending Senate committee referral. The bill, A.B. 153, expands the definition of  a “retailer engaged in business in this state” to include any retailer entering into agreements under which a person or persons in … Read More