Georgia created the Qualified Investor Tax Credit, more commonly known as the “Angel Investor Tax Credit,” to encourage direct investment from individuals into early-stage, start-up companies.
The U.S. Multistate Tax Commission (MTC) is well into the process of establishing the Arm’s-Length Adjustment Service (ALAS), a program that enables states to more efficiently regulate interstate transfer pricing and enforce interstate transfer pricing rules.
Georgia provides a wealth of tax credits and sales tax exemptions for manufacturers based in the state. However, many Georgia manufacturers may be unaware of the benefits available to them. Claiming the various benefits usually requires the assistance of tax specialists because without professional help, claiming the credits and exemptions can be a difficult process to tackle.
Bennett Thrasher is pleased to announce that the firm has been approved by the Empire State Development Corporation (“ESDC”) to perform agreed upon procedures to help entertainment companies claim New York tax incentives.
After much anticipation, last week Congress approved and President Obama signed into law the Tax Increase Prevention Act of 2014 (HR 5771) (“The Act”).
Peter Stathopoulos, lead partner in Bennett Thrasher’s State and Local Tax practice, was interviewed for the Atlanta Business Chronicle article “Businesses Taking Advantage of Incentives” about Georgia’s credit and incentive opportunities.
Bennett Thrasher’s Chiquita Banks attended the taping of the 2014 BET Hip Hop Awards at the Atlanta Civic Center. This annual awards show is taped in Atlanta as our city is not only a global leader in hip hop but in the entertainment industry at large.
Accounting Today turned to Peter Stathopoulos, lead partner in the state and local tax practice, for his expert commentary in its article “Nexus and the Internet.”
On July 1, 2014, Accounting Today turned to Bennett Thrasher’s Peter Stathopoulos, Partner of the State and Local Tax practice, for expert commentary in its article, “State Tax Collections Continue to Soften.”
For many start-up companies money is tight and income (if any) is low. Since these companies are not paying any federal or state income tax, they are not interested in spending money to perform Research & Development (R&D) tax credit studies even though the credits could be carried forward and used in future taxable years.
On May 16, 2014, the Georgia Department of Revenue (“DOR”) released Notice SUT 2014-002 which serves as notice that the DOR plans to adopt a new set of sales and use tax regulations pertaining to restaurants and similar establishments. The DOR has accepted comments on the proposed regulations but it is still to be determined when and in what form the regulations may be adopted.
On June 19, 2014, Location Guide turned to Chiquita Banks, manager in the state and local tax consulting practice, for expert commentary in its article, “Georgia Builds on Filming Appeal with Insurgent and Oprah Winfrey-produced Selma.”