Blog Posts
Sales and Use Tax: Pennsylvania Adopts Economic Nexus
In response to the U.S. Supreme Court’s Wayfair decision, effective July 1, 2019, taxpayers that exceed the PA sales threshold of $100,000 must: - Register for a license - Collect, report, and remit sales tax Marketplace Facilitator: A marketplace facilitator
Philadelphia Will Follow Pennsylvania Bonus Depreciation Treatment
The City of Philadelphia has announced that it will follow Pennsylvania’s income tax treatment of the federal bonus depreciation deduction for corporate taxpayers. Taxpayers will need to add-back any federal bonus depreciation. Taxpayers can take a deduction for
Small Businesses Get Automatic Consent for Accounting Method Change
The IRS will now automatically provide consent to small business taxpayer’s application to change to the cash method of accounting. What do the automatic consent changes include? a change to the cash method of accounting an end to
Tax Imposed on Delaware Series LLCs
Delaware legislation has authorized the formation of series limited liability companies. Beginning August 1, 2019, registered DE series LLCs will have an annual tax imposed. A series LLC is a unique entity that consists of separate, individual interests.