The Tennessee Department of Revenue issued administrative rule 1320-05-01-129(2) in 2016 requiring out of state businesses to register and collect Tennessee sales tax if their sales to Tennessee customers are more than $500,000, regardless of whether they have a physical presence in the state. According to the Department’s website, “[t]his
The IRS has launched an initiative under the Large Business and International (LB&I) Division to audit U. S. subsidiaries of foreign multinational corporations which operated as distributors in the US for product manufactured by the related party for sale to U.S. customers. The LB&I published a Practice Transaction Unit in
Barnes Dennig and USI conducted its biennial Wholesale Distribution Compensation and Benefits Benchmarking Study. The study was summarized based on the 48 local wholesale distribution companies that participated with 65% having more than 50 employees and the remaining 35% having less than 50 employees. Report findings were outlined and discussed
Indiana craft breweries could see lower taxes in their future, thanks to a new bill recently introduced in the Indiana Senate[1]. The bill would significantly lower the state excise tax on beer, from $0.115 per gallon to $0.035 per gallon. However, to qualify for this lower excise tax