Minnesota Hospital Denied Exemption

The Lake View Memorial Hospital and Clinic in Minnesota was denied a property tax exemption in February 2018. The Minnesota Tax Court stated that the Memorial Hospital failed the auxiliary-property test. Minnesota’s statute says that in order to qualify for the exemption a taxpayer must provide evidence of its not-for-profit status. The hospital did not provide the physician compensation, article of incorporation, and documentation related to the interdependence of the hospital and clinic.

For more information on this and other property tax issues, contact your state and local tax professional.

Indiana Department of Revenue Assesses Additional Income Tax on Gambling Couple

An Indiana married couple was recently assessed additional tax when the Indiana Department of Revenue determined that they did not qualify as professional gamblers. The State’s assessment is a result of a Federal adjustment. Professional gamblers report their winnings, losses, and expenses on Schedule C, which typically results in a lower income tax liability. The IRS’s denial of the taxpayer’s protest of their categorization as casual gamblers was adopted by the State without further analysis.

For more information on this and other income taxation rules, contact your state and local tax professional.

Tax Reform: Impact on Businesses

The recently enacted tax reform legislation represents the most significant overhaul of our tax laws in over 30 years. The act contains substantial changes to the taxation of businesses, individuals, multi-national companies, tax-exempt organizations and others. For more information on how this legislation will affect your business, check out our recent article, where we break down hot topics such as the corporate tax rate, pass-through income, and how you can move forward with an informed approach.

 

Tax Trends Webinar Series 2018

It’s back! The Tax Trends Webinar Series is designed to offer free education and provide information on innovative strategies to save you time and money. Our webinars this year include topics such as state income tax compliance, sales tax considerations, economic nexus, and more. Click here to view all of our Tax Trends sessions and to register.

OH School District Income Tax: Failure to File Notices

The Ohio Department of Taxation began sending Failure to File notices by regular mail on June 5, 2017 to taxpayers who:

  • Have not filed an Ohio School District Income Tax Return Form SD 100 for 2013, 2014 and/or 2015; and
  • Appear to have lived in a taxing school district based on the school district number and/or mailing address reported on the taxpayer’s Ohio Individual Income Tax Return (Ohio Form IT-1040) filed for 2013, 2014, and/or 2015.

To learn more about the Ohio School District Income Tax, read their Guide.

If you receive(d) a notice and need assistance, please contact a member of our State and Local Tax Team.

 

Midwest SALT Tour – Sales Tax Update

The final leg of our Midwest SALT Tour through Mankato, Sioux Falls, and Fargo will take place November 8, 9, and 10. This Sales Tax Update will discuss current legislation and the ways in which taxes impact your business, as well as what you can do to limit your exposure and potential liabilities. For more information and to register for one of these sessions, visit www.eidebailly.com/SALTtour.

Webinar: Talking to Your Clients About Sales Tax

Judy Vorndran Esq. CPA, of Eide Bailly will be presenting this Avalera sponsored webinar on January 7, 2013.

Course Description

Sales tax laws are often complex and confusing, even a neighborhood bakery faces complex taxability decisions. Many companies provide little or no training for their employees regarding the proper methods of collecting and reporting sales taxes. An employee with little or no formal training could be collecting and remitting substantial amounts of sales tax. If your client has a sales tax liability, there are methods to potentially reduce or remove penalties and interest. Beginning the sales and use tax discussions with our clients should not be a scary proposition. In many cases sales tax exemptions or credits may be available. Learn how to locate and apply for those exemptions and you can be the client’s tax super hero.

To register:
http://cpaacademy.org/webinars/a0DC000000W6nImMAJ