BLS Insights

The Tax Cuts and Jobs Act made modifications to the treatment of certain like-kind exchanges.

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.

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 … Continued

In early May 2018, the Internal Revenue Service (IRS) introduced a new tool called the Tax Exempt Organization Search.

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.