Taxation

Do I need an EIN for each business? Generally, businesses need a new EIN when their ownership or structure has changed. It is not possible to use the same EIN for different Entity types or for businesses that are not related. Because these types of businesses fall under different tax rules, they require separate EINs. … Read more

What does it cost to get an EIN? Applying for an Employer Identification Number (EIN) is a free service offered by the Internal Revenue Service. Beware of websites on the Internet that charge for this free service. Read more on www.irs.gov If you’re launching a business, you’ve probably heard of the EIN. Employer identifying Number, … Read more

Do S corps file tax returns? Even though the S corporation does not pay income tax, it has a responsibility to file an annual tax return on Form 1120S. This tax form is for informational purposes only and provides the IRS with an aggregate view of the business’ earnings and expenses. Read more on turbotax.intuit.com … Read more

Can you claim entertainment as a business expense? Staff entertaining is generally considered to be an allowable business expense and is therefore tax deductible. Read more on www.accountsportal.com You may have entertained clients or customers as part of your company plan as a business owner. But is entertainment allowable as a corporate expense? The answer … Read more

What is New York State tax on clothes? 4% Introduction. Clothing and footwear sold for less than $110 per item or pair and items used to make or repair this clothing are exempt from the New York State 4% sales and use taxes. Read more on www.tax.ny.gov With a cost of living that is greater … Read more

How long can Oklahoma collect back taxes? The state would be required to collect a Page 3 Req. No. 7762 Page 3 tax debt or start collection of the debt within ten years from the date of the tax debt. If the debt was not collected within ten years or if collection did not begin … Read more

Can you claim franchise fees on tax? The initial franchise fee or transfer fee that is paid to the franchisor forms part of the cost base for your franchise business as a capital asset. As these fees are capitally invested in the business, you as the franchisee do not deduct the fee as a business … Read more

Does Louisiana charge online sales tax? Vendors with store locations within Louisiana did collect taxes on online sales. Everything changed once the Supreme Court in 2018 allowed states to collect sales taxes from online vendors without a presence in their state. Read more on www.houmatoday.com One of the numerous states with online sales tax rules … Read more

What is the tax deadline for Minnesota? April 18, 2022 Most people must file their 2021 Minnesota tax return by. The Minnesota Department of Revenue must receive your return electronically ? or it must be delivered or postmarked ? by that date. Read more on www.revenue.state.mn.us To prevent fines and interest, it is crucial for … Read more

What is the sales tax in Spokane Valley Washington? 8.9 percent The retail sales tax that is collected on transactions within the city of Spokane Valley is 8.9 percent (. 089), effective. The retailer forwards that sales tax to the Washington State Department of Revenue, which then distributes the taxes to the various agencies that … Read more