|
|
|
|
Welcome to
the first edition of the
Quarterly LBMC SALT
Newsletter |
|
You
are receiving this quarterly newsletter
because
you have expressed interest in state and local
tax topics and articles. On
behalf of the LBMC SALT (State and Local
Tax)
department, I want to thank you for your
interest. If you would like to unsubscribe
for any reason, please click the "opt out" link
at the bottom of the page.
If
you have any questions, please contact
us today.
Jeff
Drummonds, Principal - Tax
Services
|
|
Tennessee Tax Free
Holiday
 The next Sales Tax
Holiday is Friday, August 1 - Sunday, August 3,
2008. Tennesseans will be able to take advantage
of buying certain categories of otherwise
taxable items in the state of Tennessee exempt
from both state and local sales tax.
While it offers taxpayers a great
opportunity to save tax dollars on these types
of seasonal purchases it is important to note
that the tax exemption provided has exceptions
and limitations.
Click here for the full
article.
|
LBMC
Client Success
Story
LBMC
announced a new success story describing how we
helped medical field client America
Service Group to
reorganize its procedures and set up a matrix
showing what was taxable in each
state.
Bill Fowler, Director of Tax at
America Service Group was pleased with the
system LBMC professionals helped set up and
subsequently commented that it was very
seamless.
Click here for the complete
Success
Story. |
Tennessee Legislative Tax
Changes
By Mark D.
Loftis, CPA - Senior Manager,
LBMC
This
summary highlights some of the more significant
changes that Tennessee has enacted and that
became effective on January 1,
2008.
Click below to read
about some
significant changes relate to food tax,
residential energy fuels, and
agricultural exemption certificate
requirements.
Click here for the full
article. |
Tennessee Franchise and
Excise Tax Update
By Mason Barrick, CPA - Senior Manager,
LBMC
Tennessee continues to improve the
benefits associated with the job tax
credit, particularly for jobs created in
economically distressed counties. Also, we are
frequently asked about the job tax credit for
high-skill, high-wage jobs in high-technology
areas, emerging occupations or skilled
manufacturing jobs created in economically
distressed counties because you do not have to
meet the normal requirement of 25 new
jobs.
|
|
Tennessee Business Tax
Update
By Mason Barrick, CPA - Senior Manager,
LBMC
We
continue to see a number of clients that are not
registered for and filing local business tax
returns. Unfortunately, their
noncompliance generally comes to light under
audit by the State. We can assist such
clients with voluntary disclosure agreements if
we make the request before the Department
finds them.
Click here for the full
article. |
|
