Ohio Tax Commissioner Talks Tax Issues for Construction Firms

On October 20, 2016, Jay Rammes and Cheryl Ganim of Barnes Dennig joined Associated Builders and Contractors in a meeting with Commissioner Testa to discuss areas of Ohio taxation that are particularly challenging to the construction industry. The Commissioner requested the meeting as he begins his preparation of the upcoming

Read More

Just SAY No – to Illinois Affiliate Nexus

Under Illinois law, an out-of-state retailer is subject to “click-through” nexus if an Illinois resident is compensated by the retailer for sales made via links or promo codes on their website or blog. Even if the out-of-state retailer has no physical presence in Illinois, they will still be considered to

Read More

Final Regulations Cover Research Credit for Internal Use Software

Businesses routinely develop new or improved proprietary internal use investment or valuation models, proprietary financial software, improved software algorithms for security, and new coding to improve speed and functionality. Internal use computer software (IUS) that is developed by (or for the benefit of) the taxpayer primarily for back-office functions is

Read More

Election Time Reminder: What Exempt Organizations Can and Can’t Do

With Election Day getting closer, the campaigns for political candidates are in full swing. Exempt organizations must tread carefully, though, because IRC §501(c)(3) states that exempt organizations may “not participate in, or intervene in (including the publishing or distributing of statements), any political campaign on behalf of (or in opposition

Read More

Is the LIFO Method of Accounting for You?

The method for valuing inventory is a big decision for any manufacturer or wholesaler/distributor. The system you choose can have large effects on your financials and your taxes. To determine which method of inventory makes most sense for you, you must first understand the difference between the two types of

Read More

KY Intercompany Sales – Taxable or Exempt

Manufacturing companies commonly sell equipment, materials and supplies to their affiliates and other related companies. However, are these sales subject to Kentucky sales tax? Kentucky law begins with the assumption that all tangible personal property sales are subject to sales tax, unless they meet an exception[1]. Often overlooked

Read More