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Income Taxes › Car Dealerships

Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect... more +
Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -
McDermott Will & Emery

Weekly IRS Roundup March 11 – March 15, 2024

McDermott Will & Emery on

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of March 11, 2024 – March 15, 2024. ...more

Miller Canfield

Pending Legislation Would Recover Tax Paid by New Car Dealers

Miller Canfield on

Key Takeaways - ..New motor vehicle dealers should consider including a tax-saving contingency in their cash plans for pending federal income tax legislation affecting inventory accounting. ..If enacted, dealers using...more

Buckingham, Doolittle & Burroughs, LLC

Ohio Commercial Activity Tax – Ohio Board of Tax Appeals relies on federal income tax treatment of vehicle financing transactions...

Buckingham, Doolittle & Burroughs, LLC on

A common question in many Ohio commercial activity tax (CAT) audits is whether federal tax treatment may be relied upon. Although the statute says it should (R.C. 5751.01(K)), the Tax Commissioner is often reluctant to accept...more

Foster Garvey PC

The CAT Is Clearly Ruling the Roost in Oregon – It Is Occupying a Large Amount of Time for Tax Practitioners This Busy Season

Foster Garvey PC on

Temporary Rules Keep Rolling in - The Oregon Department of Revenue (the “Department”) recently issued four new temporary rules relative to the Oregon Corporate Activity Tax (the “CAT”). The new rules went into effect on...more

Bradley Arant Boult Cummings LLP

Automotive Suppliers in 2019: New Hope for R&D Credits - Economic Development News

Bradley Arant Boult Cummings LLP on

As automotive suppliers begin work on their 2018 tax returns and implement plans for their capital expenditures in 2019, suppliers should look at a potential tax credit to help offset the costs of tooling: the Research and...more

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