The latest IRS and NYS initiatives including an update on IRS audit procedures and current audit focus areas, NYS tax reform (estate tax, credits, etc.), and a few topics relevant to businesses operating in other New England states. By Harlan J. Kwiatek, CPA, JD, LLM, Partner - New York, McGladrey LLP.
What is today’s MTA rate? 17% - JS- I think we should point out that even though the franchise tax rate is being lowered, the raising of the MTA surcharge negates some of that benefit.
What is it today? Is this subsidiary capital tax? Describe old law
Okay so what’s a fulfillment service? – Any of the following services performed by an entity on its premises on behalf of a purchaser: (1) acceptance of orders electronically or by mail, telephone, fax or internet; (2) responses to consumer correspondence or inquiries electronically or by mail, telephone, telefax or internet; (3) billing and collection activities; or (4) the shipment of orders from an inventory of products offered for sale by the purchaser. N.Y. Tax Law § 208 - JS – I think this is something that we should mention- its an easing of the physical presence standard- could help eliminate filing responsabilities for some internet sales outfits.