Blog LBMC

Tag: State and Local TaxX

• Tennessee's Revenue Modernization Act: What it Means for Businesses 09/18/2017  |  By: Mason Barrick, CPA, Senior Manager, State and Local Tax, Brian McCuller, JD, CPA, Shareholder, Practice Leader Tax

  Governor Bill Haslam's Revenue Modernization Act, which he signed into law on May 20, 2015, was designed largely as an effort to make sure that out-of-state companies doing…
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  Posted in: Tax

  Tagged with: State and Local Tax
• Manage your Sales and Use Tax Burden with a Reverse Audit 09/15/2017  |  By: Brian McCuller, JD, CPA, Shareholder, Practice Leader Tax, K. Edward Bringhurst, CMI, Director of State and Local Tax

  A sales and use tax "reverse audit" can help you maximize tax exemptions and incentives. While similar to a taxing jurisdiction's audit, the purpose of a reverse audit is to…
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  Posted in: Advisory and Business Consulting, Tax

  Tagged with: State and Local Tax
• Tips On Reporting Sales Tax 09/05/2017  |  By: Rhonda Chancey, CPA, Senior Manager, State and Local Tax

  Many companies with sales tax collection and reporting responsibilities find themselves with audit assessments, notices, collection agents knocking at the door and other…
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  Posted in: Advisory and Business Consulting, Tax

  Tagged with: State and Local Tax
• Should your company start collecting sales tax? 08/23/2017  |  By: Brian McCuller, JD, CPA, Shareholder, Practice Leader Tax

  That’s the question every retailer currently not collecting sales tax must answer as more and more states adopt use tax notice and reporting requirements. Colorado was the first…
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  Posted in: Advisory and Business Consulting, Tax

  Tagged with: State and Local Tax
• Should your Company Follow NEW ‘Use Tax' Notice 08/15/2017  |  By: Brian McCuller, JD, CPA, Shareholder, Practice Leader Tax

  Should your Company Follow NEW ‘Use Tax' Notice and Reporting Requirements or Simply Start Collecting Sales Tax? That is the question every retailer currently not collecting sales…
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  Posted in: Advisory and Business Consulting, Tax

  Tagged with: State and Local Tax
• Do you owe TN sales tax on cloud-based software? 03/29/2017  |  By: Brian McCuller, JD, CPA, Shareholder, Practice Leader Tax

  Cloud computing impacts every industry. In fact, cloud computing contracts can be one of a company’s largest recurring expenses, year after year. Consequently, knowing how the…
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  Posted in: Advisory and Business Consulting, Tax

  Tagged with: State and Local Tax
• Will federal tax reform make state tax nexus even more important? 03/22/2017  |  By: Brian McCuller, JD, CPA, Shareholder, Practice Leader Tax

  Most states follow federal law or use federal taxable income as their starting point to calculate state taxable income. Hence, if the federal tax base increases, so does the state…
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  Posted in: Tax

  Tagged with: State and Local Tax
• NextTennessee - IMPROVE Act Summary 02/06/2017

  By Griffin Aerts, JD As part of his proposed budget for 2017, Governor Bill Haslam recently announced the first piece of legislation for his NextTennessee legislative agenda, the…
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  Posted in: Advisory and Business Consulting, Manufacturing & Distribution, Tax

  Tagged with: State and Local Tax
• Tennessee Property Tax Revaluation 02/03/2017  |  By: Rhonda Chancey, CPA, Senior Manager, State and Local Tax

  The 2017 TN countywide reappraisal of all real property is currently underway in Davidson (Nashville), Hamilton (Chattanooga), Knox (Knoxville), Shelby (Memphis) Counties, and the…
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  Posted in: Advisory and Business Consulting, Tax

  Tagged with: State and Local Tax
• VIDEO: Update on Revenue Modernization Act 06/21/2016  |  By: Brian McCuller, JD, CPA, Shareholder, Practice Leader Tax, Mason Barrick, CPA, Senior Manager, State and Local Tax

  The Administration’s tax reform bill for 2015, the Revenue Modernization Act, past the Legislature. There were a number of changes made to the original version of the bill, which…
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  Posted in: Advisory and Business Consulting, Tax

  Tagged with: State and Local Tax