Tax & Accounting Blog

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Ask The Expert: Rules & Requirements of Voluntary Disclosures

Question: What are Colorado’s rules/requirements related to voluntary disclosure of a sales tax reporting problem? Answer from Nicole Huberty of ONESOURCE Indirect Tax: States typically outline the details of voluntary disclosure programs on their Department of Revenue websites, and Colorado is no exception. Here is the link to the Colorado website: http://www.colorado.gov/cs/Satellite/Revenue/REVX/1224672682801. … Read More

Changes to the Business Equipment Reimbursement Program in Maine

Changes to the Business Equipment Reimbursement Program in Maine

Maine Revenue Services has released a tax alert explaining recent legislative changes to the Business Equipment Tax Reimbursement (BETR) program. Businesses that qualify for reimbursement can designate their awarded compensation to pay outstanding loans owed to the Finance Authority of Maine. Reimbursements under the BETR program are reduced to 90% of the total … Read More

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Maryland Approves and Re-designates Six Enterprise Zones

Six enterprise zones have been designated, renewed, and approved by the Maryland Department of Business and Economic Development. This enables the jurisdictions to provide businesses located within the zones with income tax and property tax credits to help create and retain jobs. A new zone was approved in Glenmont/Montgomery County, zones were re-designated in Cecil … Read More