Every taxpayer that uses tangible real or personal property in a business needs to understand the tax rules relating to the distinction between a repair and capital expenditure, as well as the depreciation of those capitalized expenditures and other depreciable assets that are purchased or produced. This
Read more →Affirming a federal district court, the First Circuit Court of Appeals has struck down parts of Puerto Rico’s corporate alternative minimum tax (AMT). The court was not persuaded that the AMT did not discriminate against interstate commerce. The First Circuit Court of Appeals, affirming a U.S. district
Read more →The following Texas local sales and use tax rate changes take effect October 1, 2016. Adopted City Tax Dish (Denton County) adopted a 2% city sales tax rate, resulting in a combined (state, county, city, transit, and special purpose district) tax rate of 8.25%. City Tax Rate
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