This interim guidance may be relied upon until regulations addressing the provision are issued. It is expected that the regulations will closely follow the definitions and rules in the notice. The ...
A couple of years ago we posted an overview of state licensing and excise tax considerations for tobacco companies. In this post, we take a closer look at state excise tax considerations. When ...
The conservative Freedom Foundation filed a lawsuit Wednesday in an effort to stop the capital gains tax approved by the Washington state legislature only four days ago. The legislation places a 7% ...
Small businesses that sell goods or services that incur excise taxes need to file IRS Form 720 quarterly. Many, or all, of the products featured on this page are from our advertising partners who ...
The Department of the Treasury (“Treasury”) and the Internal Revenue Service (“IRS”), in an April 2024 follow-up to IRS Notice 2023-2, issued proposed regulations dealing with the one-percent excise ...
California will be the first U.S. state to charge an excise tax on guns and ammunition, starting in July. The new tax — an 11% levy on each sale — will come on top of federal excise taxes of 10% or 11 ...
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