Prior to a recent U.S. Supreme Court ruling, the standard to determine “substantial nexus” for sales tax purposes was based on “physical presence” as provided in Quill v. North Dakota.
Monthly Archives: July 2018
Posted by Valerie Middlebrooks, CPA NOL Deduction – Under the old law NOL utilization was not subject to limitations based on taxable income. Under the new law NOL utilization will be limited to 80% of taxable income. Also under old law NOL’s could be carried back 2 years and forward for 20 years. Under the new law NOL’s can no … Continued
Under the newly enacted Tax Cuts and Jobs Act, the corporate tax rate decreased from a maximum of 35 percent to a flat 21 percent rate beginning in 2018.