Tax & Accounting Blog

Utah Legislative Proposal to Increase Sales Tax on Food

Utah Legislative Proposal to Increase Sales Tax on Food

Utah state Senator John Valentine is negotiating with House Representatives  in the state legislature to increase the sales tax levied on foods to 4.25%.  Currently, food can be taxed at differing rates, based on its preparation and/or packaging.  The proposed sales tax increase would bring all food transactions to the same rate.  This bill was … Read More

Washington State Discusses the Tax Treatment of Chemicals Used to Treat Drinking Water

Washington State Discusses the Tax Treatment of Chemicals Used to Treat Drinking Water

The Washington Department of Revenue issued guidance regarding the tax treatment of chemicals used to treat drinking water. Chemicals that are used to treat drinking water but that do not remain with the water when delivered to the customer will be subject to sales or use tax. For example, ozone is a chemical that is … Read More

New York Governor Considers Renewing 2% Utility Tax

New York Governor Considers Renewing 2% Utility Tax

New York Governor Andrew Cuomo is considering renewing a 2% utility tax previously imposed by former Governor David Patterson. The tax is imposed on gas, steam, and non-municipal water services. Previously, the utility tax had been scheduled to expire in 2014. Local businesses are lobbying against renewing the utility tax because they believe that it … Read More

Changes coming in tax treaty between the United States and Japan

Changes coming in tax treaty between the United States and Japan

A new protocol to the income tax treaty between the United States and Japan has been signed by representatives of both countries, but its provisions will not enter into force until both countries have completed ratification of the protocol.  It amends the tax treaty, which has been in effect since 2003, to update several provisions … Read More

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Thomson Reuters Strengthens Position in Australia with Acquisition of Munitec

Thomson Reuters, the world’s leading source of intelligent information for businesses and professionals, has acquired Munitec. One of the leading providers of property tax, valuation and permitting technology for governments in Australia, Munitec will expand the Tax & Accounting Government Sector offering in this rapidly advancing market. Founded in 1994, Munitec has ten employees and … Read More