Governor Christie Keeps Reciprocal Agreement

By Wiss, Posted in State & Local Tax Services

By Michele Vetlov In order to boost the state's revenues, Governor Christie withdrew from a decades old tax agreement with Pennsylvania back in September. It left many business owners and employees anxious about 2017 income taxes and filings. Read in our past blog post about the repercussions of withdrawing from the agreement. On November 22, Gov. Christie announced that the reciprocal agreement with Pennsylvania will remain in place.  New Jersey and Pennsylvania residents that work in opposite state... read more.

Christie Launches NJ Gas Spike to End Road Funding Crisis

By Wiss, Posted in State & Local Tax Services

By Christopher Colyer After an extensive three-month long political and financial stalemate, New Jersey Governor, Chris Christie and Democratic leaders reached a deal to renew the Transportation Trust Fund, reviving dozens of construction plans that remained lifeless for months on end. By proposing to raise the gas tax by 23 cents a gallon to replenish the fund, which is recycled and applied to road, rail, and bridge improvements for the state, New Jersey’s transportation projects can swiftly resume.... read more.

Income Tax Pact Dismantled: Gov. Christie Terminates Tax Covenant with PA

By Wiss, Posted in State & Local Tax Services

By Philip London Do you cross the Delaware River on the way to work? By next year, your commute will be even more expensive. For the past 38 years, neighbor states Pennsylvania and New Jersey have preserved a reciprocity pact that allows taxing solely where workers reside, not where they work. Thus, NJ does not collect tax on PA residents working in New Jersey, and vice versa. However, last week, Governor Christie withdrew from the tax agreement. Consequently, roughly a quarter-million commuters from New... read more.

Sales Tax Nexus – Comprehending your Business' Sales Tax Obligations

By Wiss, Posted in State & Local Tax Services

By Michele Vetlov In simpler times, a New York-based industry sold its products or services within its state boundaries. As such, it was their responsibility to gather and remit sales tax to the taxing authority of The Big Apple. However, thanks to the rapid advancements in technology, today’s corporate atmosphere has become much more multifaceted. As inter-state sales are becoming routine, the same New York-based company has many more consumers to choose from, amplifying their client exploration fr... read more.

How to Take Advantage of the Grow NJ Tax Credit

By Wiss, Posted in State & Local Tax Services

By Amanda Dominguez The only bad thing about tax credits is the possibility of missing out on one. To make sure that doesn’t happen to your business, here is some background on the Grow New Jersey tax incentive and how it could affect your company.  Per-employee credits add up The Grow New Jersey Assistance Program is offered through the state’s Economic Development Authority (EDA) to encourage businesses in technology, manufacturing, warehousing, research and development and other cate... read more.

How to Avoid Tax Penalties on Complimentary Hotel Breakfasts

By Wiss, Posted in State & Local Tax Services

By Mark Feldstein When is a free meal not really free? When a New York State hotel is offering a complimentary breakfast to its guests. While complimentary breakfasts are free – in a sense – to your guests, if your hotel is audited, you could get a tax bill. And the tax penalties for months – or years – of presumed “tax-free” food can add up. New York sales tax and occupancy tax returns are, in most circumstances, subject to audit for up to three years, longer if fraud... read more.

Manhattan taxpayers, be aware of the Commercial Rent Tax

By Wiss, Posted in State & Local Tax Services

By Kyle Pennacchia and Paul Ursich In New York City, the Commercial Rent Tax (CRT) is often overlooked, and many of those who miss it face penalites and interest for late or missed filings.    Here’s a brief introduction to the tax, basic qualifications and links to more detailed information. Are you subject to the CRT? The CRT applies to Manhattan tenants who occupy or use property south of 96th Street for most trade, business, professional and commercial transactions. As with most taxe... read more.

Ecommerce Sales Tax Terms you Need to Know

By Wiss, Posted in State & Local Tax Services

By Kyle Pennacchia  If your company conducts business in a number of states, you understand how convoluted the sales tax process can be. Traditionally, you started with figuring out how to adhere to the tax collection standards of your own state, then you determined in which other states you were deemed to have a legal presence and, therefore, a tax obligation.  Then came the Internet.  Ecommerce is a great way to find customers globally that you couldn’t have in the bricks-and-morta... read more.