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Tax Deductions Retailers

Cole Schotz

Weed it and Reap: Cannabis Rescheduling’s Impact on Tax Deductions

Cole Schotz on

As the state legalization of medicinal and adult-use cannabis spreads across the United States, cannabis producers and retailers are experiencing a rapid increase in production and sales. However, despite this boom in...more

BakerHostetler

[Podcast] One Simple Trick for Cutting Your State Taxes in Half

BakerHostetler on

Texas taxes retailers and wholesalers at half the rate of other taxpayers. Matt Hunsaker breaks down the recent Xerox franchise tax case and what it may mean for leasing companies trying to qualify as retailers or...more

Goulston & Storrs PC

Increased Charitable Giving in the Time of COVID: Philanthropy or Tax Driven?

Goulston & Storrs PC on

Even before the global COVID-19 pandemic hit, retailers across the country were already prioritizing charitable giving despite the existing downward trend in sales and revenue.  With the recent global COVID-19 pandemic and...more

Goulston & Storrs PC

What Does Tax Reform Mean for Retail?

Goulston & Storrs PC on

We all know now that the federal corporate tax rate for many retailers is dropping this year from an industry effective average rate of 32.9% to 21%, as a result of changes implemented by the so-called “Tax Cuts and Jobs Act”...more

Schwabe, Williamson & Wyatt PC

Tax Reform: What Does the Tax Cuts and Jobs Act Mean for the Manufacturing, Distribution and Retail Industry?

The Tax Cuts and Jobs Act of 2017 (the “Act”) was signed into law by President Donald Trump on December 22, 2017. The Act changes many provisions of the Internal Revenue Code, from individual and business provisions, to...more

Goulston & Storrs PC

The (Border) Adjustment Bureau: Hold On to Your (Imported) Hats

Goulston & Storrs PC on

Retailers would be wise to pay close attention to the upcoming tax-plan deliberations of the 115th U.S. Congress. A proposal currently being considered would adjust the U.S. corporate tax by making imports a non-deductible...more

Morgan Lewis

IRS Issues Favorable Rules for Retail and Restaurant Remodeling Costs - Retail Did You Know?

Morgan Lewis on

Dear Retail Clients and Friends, On November 19, the IRS released Revenue Procedure 2015-56, which provides a safe harbor method of accounting for costs incurred by retailers and restaurants in remodel and refresh...more

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