Walmart.com has only about $140,000 directly at stake in a tax fight with a Louisiana parish. But the company’s court challenge to that amount may have ramifications for other online marketplace providers and for Walmart’s operations elsewhere in the state and nationwide. The case has to do with Walmart.com’s role as facilitator of third-party sales. Jefferson Parish, which is allowed …
Here are 4 tips from the Louisiana Department of Revenue: 1. Keep documents secure Place paper documents in airtight containers and place up high. Scan important records such as tax returns, payroll records and insurance documents 2. Use paperless media and cloud storage Save electronic records to flash drive or upload to cloud storage 3. Document valuables and business equipment …
Who Must File: All corporations and entities taxed as corporations for federal income tax purposes deriving income from Louisiana sources, whether or not they have any net income, must file an income tax return. Corporations that obtain a ruling of exemption from the Internal Revenue Service must submit a copy of the ruling to the Department to obtain an exemption. …
The IRS announced that it will not reject tax returns just because a taxpayer has not indicated on the return whether the taxpayer had health insurance, was exempt, or made a shared-responsibility payment under Sec. 5000A. The IRS disclosed the change on its webpage, ACA Information Center for Tax Professionals, in response to President Donald Trump’s Jan. 20 executive order …
In 2017, many small businesses are eligible for a bigger deduction on equipment purchases, and those that aren’t required to provide health insurance will have an option to help staffers pay for coverage. Additionally, many companies have new filing deadlines for their tax returns, and owners who use their cars for business will get a slightly smaller deduction. Here are …
The Affordable Care Act (ACA): has ushered in the most sweeping regulatory changes to the U.S. health care system since Medicare and Medicaid were passed about 50 years ago. It raises a full range of health care issues, and will continue to do so as provisions take effect through 2020. However, along with potentially increasing the affordability of health care …
Two interesting and related articles this morning – the first from The Advocate regarding a poll about raising taxes during the upcoming Special Session: FULL ARTICLE ON BUSINESSREPORT.COM “Roughly seven in 10 Louisianans, or 72%, believe increasing taxes will keep businesses from relocating to The Bayou State, according to the results of a poll of 500 “likely voters” released Tuesday …
The changes to the Louisiana corporate franchise tax adopted during the Session appear to be potentially more far reaching than the changes to the state sales and use tax. For tax periods beginning on or after January 1, 2017, Act 12 (signed by the Governor and effective March 10, 2016) expands the Louisiana corporate franchise tax to all entities (whether …
This year, the tax deadline falls on April 18, 2016. That’s the deadline to file personal tax returns (such as Form 1040) with the Internal Revenue Service. Normally, the deadline is April 15th. But this year, April 15th is Emancipation Day, a legal holiday in the District of Columbia. Under a special rule, whenever the tax deadline falls on a …
Louisiana recently passed significant changes affecting the application of sales and use tax. These changes go into effect April 1, 2016 and remain in effect for 18 months, ending after June 30, 2018. The temporary taxes include a 1% increase to Louisiana’s 4% sales tax and the lessening of many sales tax exemptions. Louisiana’s state-level sales and use tax is …
