Minnesota expanded its definition of a “retailer maintaining a place of business” in Minnesota to include online marketplace providers (e.g., Amazon). Out of state businesses that use a marketplace providers’ fulfillment center within Minnesota may have established a physical presence in Minnesota. The 2017 Minnesota Legislature passed a law imposing
The recently passed Tax Cuts and Jobs Act includes a significant new tax deduction taking effect in 2018. This deduction should provide a substantial tax benefit to individuals with “qualified business income” from a partnership, S corporation, LLC, or sole proprietorship. This type of income is commonly referred to
The 2.3% medical device excise tax (MDET) was reinstated on January 1, 2018 after a two year suspension. The MDET is imposed on domestic sales including imports, manufacturing and the production of medical devices. The MDET initially went into effect in January 2013 to help fund the Affordable Care Act.
With a new year upon us, and the recent Tax Reform bill being signed into law, there is much uncertainty about how our personal tax situations will be impacted. The Barnes Dennig tax team is here to help keep you informed and up-to-speed with various resources. See some of the
Read our original post on this topic here. The Ohio Department of Taxation will conduct a tax amnesty program from Jan. 1, 2018 to Feb. 15, 2018, with respect to most Ohio taxes (Commercial Activity Tax, pass-through entity tax, sales/use tax, financial institutions tax, individual/individual school district income tax,
President Trump signed the Tax Cuts and Jobs Act “Tax Act” into law on December 22, 2017. The Tax Act provides the most significant tax reforms since the Tax Act of 1986. These new laws are generally effective on January 1, 2018. For the purposes of US GAAP and IFRS,