On May 10, 2024, Governor Bill Lee enacted Public Chapter 950 which resulted in the removal of the property measure component from the franchise tax computation for tax years ending on or after January 1, 2024. Under this legislative amendment, taxpayers who previously remitted taxes based on the ...
business tax
The IRS has increased its compliance efforts with the objective of accurate reporting and payment of Self-Employment Contributions Act (SECA) taxes. This pertains specifically to individual partners who hold the status of a “limited” partner but may not necessarily meet the criteria of a limited ...
In July 2023, the Texas legislature passed Senate Bill 3, which increased the no tax due threshold and eliminated reporting requirements for certain entities. In response, the Texas Comptroller's office has issued guidance and changed the way some entities have to report for franchise tax purposes ...
Why New York’s Convenience of the Employer Rule May Put a Damper on Your Plan to Work Remotely, and Avoid New York State Income Tax