With the Illinois House’s vote to override Gov. Bruce Rauner’s veto of budget legislation, sales and use tax law changes were enacted including an exemption for graphic arts machinery and equipment, an immediate increase of tax on gasohol sales, and an extension of exemptions for certain ethanol and biodiesel fuel sales. Graphic Arts Machinery and […]

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Delaware Gov. John Carney has signed legislation that increases the maximum corporation franchise tax computed using either the authorized shares method or the assumed capital value method from $180,000 to $200,000 each taxable year. A new maximum tax of $250,000 applies to certain large, publicly-traded corporations identified by the Secretary of State. These franchise tax […]

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Congress continued its Independence Day recess. The IRS posted a memorandum on the centralized partnership audit regime and cautioned tax professionals to be on guard for phishing and other scams. Congress House. A pending fiscal year (FY) 2018 funding bill for the IRS would limit enforcement of the health care law’s individual mandate (TAXDAY, 2017/07/06, […]

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The Treasury Department has released an interim report identifying tax regulations that impose undue burdens on U.S. taxpayers. The report was prompted by Executive Order (EO) 13789, which was issued on April 21, 2017. Of the 105 temporary, proposed and final regulations issued between January 1, 2016, and April 27, 2017, the Treasury found that […]

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As Senate Republicans continue work on revising the stalled Better Care Reconciliation Act of 2017 (BCRA) (TAXDAY, 2017/06/23, C.1), there is talk on Capitol Hill that intraparty consensus on the measure may not be obtained. The BCRA, as currently written, would repeal and replace, in part, the Patient Protection and Affordable Care Act (ACA) (P.L. […]

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Marketing, Economics and the 4Ps I am progressing through “Implementing Value Pricing” by Ron Baker, and really enjoying the process and the parallels that are drawn to everyday topics and other industries. I was amused and excited to hit a section where he began an interesting parallel of pricing strategy to… farming. Now, I’m a South […]

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