News & Analysis as of

Tax Exemptions Tax Code State Taxes

Buckingham, Doolittle & Burroughs, LLC

Ohio Sales Tax Exemptions Businesses Should Know

Generally, in Ohio, sales of tangible property are taxable unless an exemption exists, whereas services are generally nontaxable unless specifically enumerated as taxable under the Ohio Revised Code. However, Ohio has many...more

Bowditch & Dewey

Olympic Medals and Income Tax

Bowditch & Dewey on

The 2024 Paris Olympics are in full swing, and it is never too early for U.S. athletes to consult with their tax advisor. As was done in 2021, the United States Olympic & Paralympic Committee has pledged to award U.S....more

Buckingham, Doolittle & Burroughs, LLC

Maximizing Ohio Sales and Use Tax Exemptions for Businesses

In Ohio, sales of tangible personal property are presumed taxable unless an exemption exists. On the other hand, services are presumed nontaxable unless specifically enumerated as taxable under Ohio’s Revised Code. Many of...more

Freeman Law

Texas Sales Tax Exemptions | Sales-for-Resale

Freeman Law on

The Texas Tax Code provides that, as a general matter, Texas sales and use tax are imposed on sales of “tangible personal property” or “taxable services.” However, various exemptions apply to these items to provide relief to...more

Roetzel & Andress

Now That We’ve Seen the Eclipse, It’s Time To Plan for the TCJA Sunset

Roetzel & Andress on

As the ball drops in Times Square on December 31, 2024, many of the tax breaks established by the Tax Cuts and Jobs Act (TCJA) of 2017 will disappear. While the TCJA made some permanent tax cuts, a number of tax cuts and...more

Burr & Forman

New Alabama Overtime Tax Exemption Effective January 1, 2024

Burr & Forman on

Alabama employers should be aware of the new state tax exemptions that take effect for certain overtime payments beginning on January 1, 2024. Alabama has temporarily modified its tax code to exempt from state tax amounts...more

Bowditch & Dewey

Massachusetts Tax Reform Enacted – Estate Tax Exemption Increase and Other Help for Residents

Bowditch & Dewey on

The long-awaited Massachusetts tax reform package was signed by Governor Maura Healey on Wednesday, October 4, 2023. Among the provisions: Estate Tax Reform: Establishes a non-refundable credit of $99,600 for each estate,...more

Pierce Atwood LLP

Maine's Federal Tax Conformity Proposal

Pierce Atwood LLP on

On Thursday, March 1, Alec Porteous, the Commissioner of the Maine Department of Administrative and Financial Services, and Dr. Michael Allen, Associate Commissioner for Tax Policy for the Maine Department of Administrative...more

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