In March of 2008, Myrtle Beach, South Carolina, implemented a 1% sales tax intended for the promotion of tourism and to subsidize property taxes. Despite strong opposition from the governor and many locals, the privately ran Chamber of Commerce passed the tax anyways without a vote, but put a 10 ...
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Controversy Over Myrtle Beach Tourism Sales Tax
Indirect Tax, ONESOURCE, Sales and Use Tax 0 CommentPosted on May 18, 2012
Why Tax Executives are Spending More Time in Front of the C-suite
Forecasting, Global Tax Compliance, ONESOURCE, Tax Provision, Transfer Pricing, Uncertain Tax Positions, US Income Tax Compliance, WorkFlow Manager, Year End 0 CommentPosted on May 17, 2012
Gone are the days when the corporate tax director stands last in line to update the CFO. In a recent article on CFO.com, internal tax advisers shared how they are getting more exposure at C-suite-level doors on a regular basis. Why the sudden interest in tax? With increased regulation, a heavy state ...
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KPMG and Thomson Reuters Share Forum: May 22, 2012 (Nashville, TN)
Indirect Tax, ONESOURCE, Sales and Use Tax 0 CommentPosted on May 17, 2012
Please join professionals from KPMG LLP and Thomson Reuters for a share forum addressing how to control your company’s transaction tax process through the effective use of technology. Date: Tuesday, May 22, 2012 Location: KPMG LLP - Nashville Office 401 Commerce Street Nashville, TN 37219 Time: 1:00 p.m. - 1:30 p.m. - Registration 1:30 p.m. - 5:00 p.m. ...
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Join Thomson Reuters and General Electric at 2012 ACT Conference
Indirect Tax, ONESOURCE, VAT Tax Rates, VAT-GST Management 0 CommentPosted on May 17, 2012
Thomson Reuters and GE will be hosting a session at the 2012 ACT Conference on how to achieve global tax support by consolidating your company's VAT determination, reporting, and compliance processes. Session Information: Title: Combine VAT Determination and Tax Compliance to Achive Global Tax Support Wednesday May 23, 2012 3:00pm - 4:15pm Walt Disney World ...
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Paying Foreign Employees Part 2 – Resident Alien or Nonresident Alien?
ONESOURCE, Tax Information Reporting, Withholding Management 0 CommentPosted on May 17, 2012
The first task for employers is to determine which foreign national employees are resident aliens (who are taxed like U.S. citizens) and which are nonresident aliens (who are taxed under special rules). Resident aliens include foreign national employees who are green-card holders and nonimmigrants (and illegal aliens) who are substantially ...
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Virginia Sales Tax Holiday Set Tor Next Week
Indirect Tax, ONESOURCE, Sales and Use Tax 0 CommentPosted on May 17, 2012
For the fifth straight year, Virginia shoppers will be allowed to purchase hurricane related supplies free from state and local sales taxes beginning later next week. The Hurricane Preparedness Tax Holiday runs from Friday, May 25th through the 31st, and includes items such as water bottles, tarps, and batteries on ...
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Massachusetts House Votes Down Meals Tax Holiday
Indirect Tax, ONESOURCE, Sales and Use Tax 0 CommentPosted on May 16, 2012
On April 23rd, the Massachusetts House of Representatives voted to reject a budget amendment that would have allowed for a Meals Tax Holiday in the state from October 7th - 12th. Should this amendment have passed, diners would have the opportunity to save 6.25% on their purchases at restaurants throughout ...
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Data Management Podcast Series: Behind the Scenes of AstraZeneca’s Tax Department
Audit Assistance, Best Practices, Compliance, Forecasting, Global Tax Compliance, ONESOURCE, Risk Assessment, Tax Provision, US Income Tax Compliance, Year End 0 CommentPosted on May 15, 2012
How Saving 20 Hours During Their 7-Day Close is Getting the Tax Team More Exposure When the US tax department of AstraZeneca was under the microscope of new management, they knew that incorporating software into their tax processses would help to gain effiencies around data managment and reporting out globally. In our recent Data Management Podcast series, Linda ...
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Paying Foreign Employees Part 1
ONESOURCE, Tax Information Reporting, W-8 & W-9 Foreign Reporting, Withholding Management 0 CommentPosted on May 15, 2012
At one time, only major multinational corporations and institutions of higher education had to concern themselves with the special tax rules and procedures for paying foreign employees. That time is long gone. Even small and medium-sized companies pay foreign nationals for services both in the U.S. and abroad. In the new IRS initiatives, ...
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Texas Energy Star Tax Holiday Begins This Month
Indirect Tax, ONESOURCE, Sales and Use Tax 0 CommentPosted on May 15, 2012
Texas will once again be participating in their annual Energy Star Sales Tax Holiday from Saturday, May 26th though Monday the 28th. During this particular weekend, big ticket items such as refrigerators and washers with an Energy Star rating are free from the 6.25% state sales tax. Other states that ...
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Tennessee Grocery Tax Reduced
Indirect Tax, ONESOURCE, Sales and Use Tax 0 CommentPosted on May 14, 2012
Beginning July 1, Tennessee will see a reduction in their grocery sales tax from 5.5% down to 5.25%. This cut, which was passed by the General Assembly last month and figures to save your average consumer about $3.40 a year, will cost the state about $22 million in revenue over ...
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Tax & Accounting’s Global Strength Helps Grow Thomson Reuters
ONESOURCE 0 CommentPosted on May 14, 2012
Success is meant to be shared, especially with those who have helped create it, and I’d like to share our story with you. Last week, Thomson Reuters reported strong quarterly results and I am extremely proud to say that the Tax & Accounting business was a key contributor. I was privileged to ...
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RICHMOND TAX PROFESSIONALS SHARE BEST PRACTICES
Audit Assistance, Best Practices, Compliance, Forecasting, Global Tax Compliance, Risk Assessment, Tax Provision, US Income Tax Compliance, WorkFlow Manager, Year End 0 CommentPosted on May 11, 2012
Last week, I joined 30 senior tax executives from major corporations in the Richmond, VA area, for a lively discussion on what’s on every tax executives mind lately….data management, process management and overall strategies on bringing more efficiencies to the tax department. The diverse group of attendees represented tax departments that had both implemented ...
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Ten Rules of Paying Foreign Nationals
ONESOURCE, W-8 & W-9 Foreign Reporting, Withholding Management 0 CommentPosted on May 11, 2012
Paying compensation for services to foreign nationals is difficult because of the complexity of the U.S. tax laws and tax treaty provisions and procedures. The ten rules below provide a framework of information to consider when paying foreign nationals for services. Rule #1: All compensation for services performed in the U.S. ...
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