Tax & Accounting Blog

Maryland Sets 2017 Interest Rate on Refunds and Delinquent Taxes

Maryland Sets 2017 Interest Rate on Refunds and Delinquent Taxes

Pursuant to Article §13-604, the Maryland Comptroller is required to annually set the interest rate on refunds and moneys owed to the State. The Comptroller has announced that for the 2017 calendar year, the annual interest rate is 12%. (General Notice, Maryland Comptroller of the Treasury, Maryland Register Vol. 43, Issue 21, 10/14/2016.) For corporations and … Read More

U.S. Supreme Court to Hear Appeal in Colorado “Amazon Tax” Case

U.S. Supreme Court to Hear Appeal in Colorado “Amazon Tax” Case

On July 1, the United States Supreme Court announced the cases that it would consider in its next term. Among those cases is 13-1032, Direct Marketing Association v. Brohl, which challenges the State of Colorado’s so called “Amazon Law.” Colorado’s Amazon Law came into effect on March 1, 2010. Unlike Amazon … Read More

onesource

Why Nature of Income Paid to Foreign Vendors Matters Part 7 – Tax Treaty Exemptions from Withholding

A common withholding exemption is a claim under an applicable provision of an income tax treaty with the country of tax residence of the income’s beneficial owner. Such a claim must be made by the vendor on a valid Form W- 8BEN, or a Form 8233 in the case of treaty claims by individuals on … Read More

Louisiana Tax Amnesty

Louisiana Tax Amnesty

The Louisiana Tax Delinquency Amnesty Act of 2013 authorizes three tax amnesty periods during which penalty or interest relief will be available for payment of past-due Louisiana taxes. All taxes administered by the state revenue department are included except for motor fuel taxes and the penalties for failure to submit information reports that are not … Read More

Connecticut Enacts State Tax Amnesty, Will Waive Penalties and Reduce Interest

Connecticut Enacts State Tax Amnesty, Will Waive Penalties and Reduce Interest

The Connecticut legislature has approved a tax amnesty program as part of the general state budget bill H.B. 6704. The amnesty period will run from September 16 to November 15, 2013, and is open to individuals, businesses, or other taxpayers that owe Connecticut state taxes (other than motor carrier road taxes) for any taxable period … Read More

Minnesota Income Tax Rate Change Retroactive to January 1

Minnesota Income Tax Rate Change Retroactive to January 1

Minnesota Governor Dayton signed the new omnibus budget bill HF 677 on May 23, enacting a compromise on income tax rates worked out in conference between the state House and Senate which had passed different versions of the bill. The newly approved income tax rate structure is retroactive to January 1, 2013, and changes affect … Read More