Tax & Accounting Blog

Michigan Issues New Pension Withholding Guide and Form MI W-4P

Michigan Issues New Pension Withholding Guide and Form MI W-4P

The Michigan Department of Treasury has issued a new Form MI W-4P (Withholding Certificate for Michigan Pension or Annuity Payments) for 2012 for recipients of retirement payments to fill out and furnish to the payer to use in withholding Michigan personal income tax on distributions. Tax withholding on retirement payments is new for Michigan for 2012 … Read More

Pennsylvania Unveils New Online Sales Tax Policy

Pennsylvania Unveils New Online Sales Tax Policy

The  Department of Revenue issued a bulletin on December 1st announcing its reinterpretation of existing law regarding nexus. In announcing the new policy, state Secretary of Revenue Dan Meuser said the bulletin is intended to clarify laws regarding which businesses must collect sales tax for the state. Under the Pennsylvania Tax Reform Code (TRC), any … Read More

South Dakota Gathers Enough Signatures To Bring Tax Increase To Vote

South Dakota Gathers Enough Signatures To Bring Tax Increase To Vote

 The Secretary of State has certified that a grassroots movement, Moving South Dakota Forward, has gathered more than the 16,000 required signatures to get a 1 percent state sales tax increase on the November 2012 ballot.  Although previous polling didn’t promise much support, voters will get a chance to make their choice on Measure 15 … Read More

Transfer Pricing Tops List of Leading UTP Disclosures

Transfer Pricing Tops List of Leading UTP Disclosures

Internal Revenue Service Commissioner Douglas Schulman, speaking at the national tax conference of the American Institute of Certified Public Accounts said that of the approximately 1,500 disclosures of Uncertain Tax Positions received, transfer pricing, research and development credits and business expenses topped the list of disclosures. The service views the UTP disclosures as a tool … Read More