By Keith Habel, CPA Partner, SALT Practice Leader California No Nexus for Passive LLC Members: The California Court of Appeals ruled that an out-of-state corporation, which was a 0.2% passive member in a California LLC, did not meet the requirements of “doing business” in California. To be required to pay the minimum tax, the court […]
By Josh Miller, CPA Tax Manager For the first time since 2009, Iowa taxpayers will likely face lower Section 179 expense limitations on their Iowa tax return than on their federal tax return. Section 179 allows many businesses to deduct up to the full purchase price of newly acquired assets in the year they are placed […]
