Key Takeaways Ohio taxes “business income” and “non-business income” differently, and for owners selling a closely held company, the classification can swing the tax bill by hundreds of thousands of dollars. For years, the Ohio Department of...
Key Takeaways California’s new budget bill, S.B. 122, expands the state’s sales and use tax base to include prewritten software (whether it’s delivered physically, downloaded electronically, or accessed remotely as SaaS) Until now, California was one...
Key Takeaways Ohio’s 2026 sales tax holiday runs from 12:00 a.m. Friday, August 7 through 11:59 p.m. Sunday, August 9 — a return to the traditional three-day, back-to-school format. The expanded $500-and-under holiday from recent years is gone. This year’s...
Key Takeaways IRS Notice CP53E means the IRS could not process a refund via direct deposit. It does not mean the refund was denied. Individuals have 30 days from the notice date to update their banking information through the IRS Individual Online Account. The IRS...
Key Takeaways A California trial court ruled that Smithfield Foods is entitled to use a traditional three-factor apportionment formula (property, payroll, and sales) rather than California’s standard single sales factor method. The court found two independent...
