Category Taxation Law (2)

"Advocacy Considerations" of "Nonprofit Advocacy"

Clients looking to form a non-profit, tax-exempt advocacy organization often have a lot of questions about what is the best and most appropriate type of organization.  The answer depends on what the client wants to achieve and how the organization will conduct its activities.  The starting point is often with questions about what is the purpose of... Read More

New Partnership Audit Rules Apply in 2018, Business Should Take Action Now

In 2018, the IRS is changing the audit procedures for businesses taxed as partnerships, which includes LLCs taxed as partnerships. Updated tax regulations were recently proposed and will be finalized after the public hearing on September 18, 2017, making this a good time for businesses to consider the new rules and begin taking proactive steps to... Read More

2016 Tax Return Preparation Reminders

It’s that time of year again when folks are sorting out (or maybe just starting to sort out) their tax return filing obligations for 2016. As this is done, consider whether any of the following apply to you – this tax season I’ve been seeing and advising on these topics frequently. Limitations on the deductibility of pass-through losses on your... Read More

Recent Changes to Sales and Use Taxes - What is the New Rule and Its Impact?

During the last legislative session, the Iowa Legislature passed and Governor Branstad signed House File 2433 into law.  HF 2433 addressed a number of tax-related issues, including certain rules regarding sales tax exemptions for manufacturers.  One of these changes may impact how contractors collect and pay sales tax on large manufacturing... Read More

Iowa Passes Law to Create Biorenewable Chemical Tax Credit Program

On April 6, 2016, Governor Branstad signed into law Senate File 2300 which creates the Biorenewable Chemical Tax Credit Program, a landmark piece of legislation that is expected to result in significant investment and innovation in Iowa.  This legislation was supported by a diverse coalition of interested parties in Iowa, including the Iowa... Read More

News From The North

Minnesota is now one of only two states to have a state gift tax.  (Connecticut is the other one.)  As a result, gifts of more than $1 million worth of Minnesota property will require a payment of Minnesota gift tax.  The tax is assessed on a sliding scale, and the maximum rate is 16%. Gifts to a spouse or to charity do not count.  Gifts with a... Read More

The "Fiscal Cliff" and Post-Election Tax Planning for 2012 and 2013

With the election over and the "Fiscal Cliff" looming, it is a good time to consider all of the potential tax changes coming at the end of the year. Many of these potential changes are the result of the Budget Control Act of 2011, a compromise reached by the President and Congress at the end of last year. Under the Act, if Congress cannot find a... Read More