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Understanding Sales and Income Tax Nexus for Entrepreneurs
One of the biggest misunderstandings entrepreneurs face when starting or expanding a business is the concept of nexus — particularly how it applies to sales taxes and income taxes. With online platforms like Wix, Shopify, and WordPress, businesses are now reaching customers across the country. However, understanding where and when you owe taxes is crucial…
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State Corporate Income Tax Rates in the U.S.
How much are states taxing your business? This quick snapshot shows corporate tax rates across the U.S., in addition to the federal flat rate of 21%. Note: In addition to regular income taxes, many states impose other taxes on corporations, such as gross receipts taxes and franchise taxes. Some states also impose an alternative minimum…
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Form 5452 vs. Form 8937: Which One to File for Return of Capital?
When a corporation returns capital to shareholders, it can trigger different IRS filing requirements depending on the nature of the transaction and who it affects. Two key forms to be aware of are Form 5452 and Form 8937. While they may seem similar at first glance, they serve distinct purposes. What is Form 5452? Form…
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Navigating Nonresident Income Tax Laws: What You Need to Know in 2025
As remote and hybrid work continue to reshape the professional landscape, understanding state income tax obligations—especially for nonresidents—is more important than ever. The State-by-State Breakdown Some states are stricter than others when it comes to who needs to file: File for Any Income In Arkansas, Delaware, Kansas, Michigan, and Nebraska, nonresidents must file an income…
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The Skinny on 338 Elections
When it comes to M&A, tax considerations can play a crucial role in negotiating deal terms. Among the various tax elections available, the §338 election is particularly relevant as it allows certain acquirers in a stock-sale to mark-up the basis of the assets purchased in exchange for increased cost recovery in future periods. This increased…