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Happy Holidays 2009 from
SALT |
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 On
behalf of LBMC SALT (State and Local Tax), we
would like to take the opportunity
to express our thanks for your business and
continued support.
Click
here to see the LBMC 2009 electronic
holiday card and holiday hours.
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The Final Countdown: TN Business
Tax Changes & VDA
Deadline
 This year
marks a change in the administration of the
Business License Tax in
Tennessee.
Starting with the 2010
license year, the State Department of Revenue
will begin collecting the Business License Tax
on behalf of local jurisdictions. With this
change comes a new process as well as new level
of scrutiny of who is or is not filing tax
returns.
Click here for the full
article.
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T he Ticking
Time Bomb – Undiscovered Sales Tax Liabilities
 For
companies with sales activities in multiple
states, the failure to understand and analyze
the activities that create nexus (the
responsibility to collect and report state and
local sales tax) on sales transactions can be a
ticking time bomb.
A new study by Sabrix
Inc. indicates the problem may be more
pronounced than previously thought. This survey
concluded that 95% of the companies surveyed
underestimate their sales tax liability in one
way or another. The study also reveals that 85%
of the companies surveyed underestimated the
number of states in which they needed to be
registered by more than half.
Click here for the full
article. |
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