Tax & Accounting Blog

Consolidation – What is changing now?

Consolidation – What is changing now?

Consolidation refers to the preparation and presentation of consolidated financial statements by an entity. When a parent consolidates a subsidiary, the parent presents its results of operations and financial position as if the parent and its subsidiary were a single entity. Any company controlling another entity is subject to the consolidation guidance in the Codification. … Read More

Oregon Pot Shops Lax on Grass Tax

Oregon Pot Shops Lax on Grass Tax

The state of Oregon has nearly 402 medical marijuana dispensaries, and as of January 1, 2016, those dispensaries that also sell recreational marijuana have been required to collect a 25% excise tax on the retail sale of that non-medical marijuana. In a temporary Administrative Rule adopted January 4, 2016, the Oregon Department of Revenue described the … Read More

What You Need To Know About BEPS: The Evolving List of Countries that Require a CbC Report for Fiscal Year 2016

What You Need To Know About BEPS: The Evolving List of Countries that Require a CbC Report for Fiscal Year 2016

The rules are now clear. Every MNE with at least 750 million Euro of revenue in 2015 must prepare Country-by-Country (CbC) reports for the 2016 fiscal year. If the ultimate parent company does not file, then a surrogate or the local entity will most likely be required to comply. The timeline seems to afford MNEs … Read More

Water System Installation is Double-Edged Sword in Eyes of Key West Residents

Water System Installation is Double-Edged Sword in Eyes of Key West Residents

Blog, Indirect Tax, ONESOURCE February 24, 2016

Residents of the Twin Ridge subdivision near Dubuque city, Iowa, are muffed over the city’s recent purchase of a $1.3 million water and sewer provider, viewing the purchase as a coercion to force an annexation of their community.  Although some see the purchase as a logical step due to current infrastructure, others view it as the … Read More