Tax & Accounting Blog

ONESOURCE Unclaimed Property Welcomes Jim Doody

ONESOURCE Unclaimed Property Welcomes Jim Doody

Blog, ONESOURCE December 5, 2011

Starting today, Jim Doody has joined Thomson Reuters as a Senior Manager in the Boston office. Jim previously worked for The Gagnon Group LLC as Director of Unclaimed Property Services where he assisted clients with compliance issues, while providing unclaimed property services to Fortune 500 Companies. Before Gagnon, Jim served as Director for Kelmar Associates where he conducted … Read More

Michigan Supreme Court Strikes Down One Provision of the State’s New Tax Law Affecting Retirement Payments

Michigan Supreme Court Strikes Down One Provision of the State’s New Tax Law Affecting Retirement Payments

In an advisory opinion issued November 18 on the constitutionality of several provisions of the new Michigan tax law that concerns state income tax and withholding on retirement benefits, the state Supreme Court ruled that basing exemptions and deductions on “total household resources” violates the Michigan constitutional prohibition against a graduated income tax. That strikes down two subsections … Read More

SC Supreme Court Considering Sales Tax Exemption Case

SC Supreme Court Considering Sales Tax Exemption Case

The South Carolina Supreme Court is currently considering arguments in a case filed by Mathew Bodman that could eliminate the state’s 78 sales tax exemptions. The suit argues that the exemptions and tax caps contained in  S.C. Code Ann. §§ 12-36-2110 and 12-36-2120 are unconstitutional and should be removed. According to the plaintiff, the statutes’ tax … Read More

The Challenges and Success Tactics behind One of Fortune Magazine’s ‘World’s Most Admired Companies’

The Challenges and Success Tactics behind One of Fortune Magazine’s ‘World’s Most Admired Companies’

Jones Lang LaSalle was able to meet their goal of mitigating the risk of transfer pricing penalties and adjustments through a solution which enabled them to streamline the information gathering process for its transfer pricing reports. Similar to many tax departments today, Jones Lang LaSalle, a financial and professional services firm, specializing in … Read More

Maine Includes Medical Marijuana Brownies Under Prepared Food Rate

Maine Includes Medical Marijuana Brownies Under Prepared Food Rate

When Maine first approved medical marijuana, it was decided that marijuana provided for medical purposes would be subject to the 5 percent state sales tax.  Now, lawmakers have issued an opinion that  brownies including medicinal marijuana fall under the higher prepared food rate of 7 percent.  Opponents are upset, saying that medicine should not be … Read More