CPA Practice Advisor

FEB 2015

Today's Technology for Tomorrow's Firm.

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18 February 2015 • www.CPAPracticeAdvisor.com A YEAR IN THE LIFE: SALT ACCOUNTANT A labama is ofering a Severe Weather Prepared- ness Sales Ta x Holiday in Februar y. Tis is the four th annua l event in A labama wherein con- sumers are allowed to purchase certain severe weather preparedness supplies free of state sale or use tax. Retailers are required to participate. Te tax-free holiday is February 20 through February 22, 2015. Sample exempt items include batteries, cel l phone chargers, batery-powered radios, two-way radios, self-powered light sources, plastic sheeting, duct tape, ply wood and other items specifcally desig ned to protec t w i ndow cover i ngs, non- elec t r ic food a nd water storage coolers, non- electric can openers, artifcial and reusable ice, frst aid kits, fre extinguishers, smoke and carbon monoxide detectors, gas or diesel fuel tanks and containers. Te Coalition Against Higher Taxes and Special I nterest Dea ls is a new g roup t hat for med i n Michigan to publicly oppose the states anticipated sales tax increase and removal of sales tax from fuel sales. A nother piece of legislation has been linked to the tax increase. Te group contends that special interest items were tacked on to the pro- posal to ensure passage. "Voters should not have to subsidize the special interest deals with higher taxes in order to f x our roads," said the group's treasurer, Paul Mitchell. Online retailer A mazon.com w ill begin col- lecting Illinois sales ta x star ting in Febr uar y, 2015. A mazon is building a distribution facility in Illinois that will open this year and that physical presence will create nexus in the state. Ohio Governor John Kasich has include a sales tax increase in his 2015 budget proposal. Te increase would raise state sales tax by half a cent and would be ex pected to raise $1. 5 bil lion per year for the state. A bill is foating around the New H a mpsh i re le g i sl at u re that would permit state taxes and fees to be paid with bitcoin. State & Local Tax Highlights from Around the Country By Gail Perry, CPA, Editor-in-Chief S tate and local taxes are constantly changing. As the most trusted fnancial and business advisor to your clients, it's your job to keep up with them. At CPA Practice Advisor, we're here to help you - so here's a roundup of some of the latest changes.

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