Tax & Accounting Blog

Can Tax Reform Legislate Economic Analysis?

Can Tax Reform Legislate Economic Analysis?

The Tax Council Policy Institute (TCPI) hosted the 14th annual Tax Policy and Practice Symposium, “Taxation of Intangibles: Implications for Growth, Jobs and Competitiveness,” on February 13-14 in Washington, DC. In attendance were tax leaders from business, government, and academia who provided perspectives of issues regarding intangible assets, intellectual property, and business processes that are … Read More

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