There have been new developments in Indiana regarding nonprofit organizations and sales tax. First, effective for 2023, the form NP-1 is replacing form ST-105 for requesting sales tax exemptions. Existing ST-105s on file will remain valid through December 31, 2023. Form NP-1 will now be used to request sales tax exemptions for new vendors. Additionally, […]
Most individuals have a misconception that only owners or officers are held responsible for a company’s tax compliance. However, over the last several years, states have taken the definition of responsible person to another level to include other individuals, like employees, and have enforced that definition in order to help collect taxes, penalties, and interest. […]
Last month, the Supreme Court ruled in favor of South Dakota in the case of South Dakota v. Wayfair, Inc. With this ruling, the Supreme Court upheld South Dakota’s “economic nexus” standard for sales tax, allowing it to require Wayfair to collect and remit sales tax on sales to the state. This reverses a previous […]
If expansion plans call for doing business in other states, factor in tax liability by Marie Jett, CPA | Principal and Anita Sherman, CPA | Managing Partner When you say you want to grow your manufacturing company, what does that mean? It may entail expanding your physical plant or warehouse or introducing new products. It […]
by Abbey R. Lakin, Senior, Tax Services Group | Jim Wagoner, CPA, Partner, Director of Tax Services Group This year the Indiana state legislature passed new laws that affect Indiana business taxpayers. These new laws include mandatory electronic filing for all Indiana sales and withholding taxes, as well as changes to the 2013 sales and […]