ALBANY, N.Y. -- The New York state Labor Department issued rules that characterize service charges as part of a restaurateur's gross receipts, leaving it to the employer's discretion whether or not to distribute the money to the staff.
Ranked by number of attorneys Legal data Gross receipts per lawyer for firms in five Great lakes states, including Ohio Firm size Gross receipts per lawyer Less than 9...
In December 2001, the Internal Revenue Service issued Notice 2001- 76 the Notice that, in general, allows qualifying small businesses with gross receipts of up to $10 million or less to use the cash method of accounting. This is good news for the business community as it was only...
Accountants have long complained that the IRS required many businesses to use the accrual method of accounting. Now, thanks to a change in tax policy, an estimated 500,000 businesses will be able to switch to the simpler cash method of accounting. Before this policy change, businesses that earned inventories could...
On January 12, 1995, Tax Executives Institute filed the following comments with the finance committees of both houses of the Virginia legislature, supporting the proposed repeal of Virginia's business, professional, and occupational license tax, which is a form of gross receipts tax imposed at the local level. The Institute's comments,...
Back in 1997, Congress repealed the alternative minimum tax for corporations with average annual gross receipts of $5 million or less. But some businesses mistakenly continued to pay the tax -- to the tune of $37 million. So, in 2001, the IRS mailed rough Back in 1997, Congress repealed the...
WASHINGTON -- The Internal Revenue Service and the Treasury Department will allow certain small businesses with gross receipts of up to $10 million or less to use the cash method of accounting for their income and expenses. WASHINGTON -- The Internal Revenue Service and...
WASHINGTON, DC -- The Internal Revenue Service IRS has announced that it will allow small businesses with gross receipts of $10 million or less to use the cash method of accounting, a change which the Air Conditioning Contractors of America ACCA WASHINGTON, DC -- The...
The Air Conditioning Contractors of America ACCA has praised the Internal Revenue Service IRS for allowing small businesses with gross receipts of $10 million or less to use the cash method of accounting -- a change that ACCA says will save sma The Air...
The IRS announced a change allowing simplified tax filing for up to one-half million additional small businesses beginning in tax year 2001. Certain small businesses with gross receipts of $10 million or less are now permitted to use the cash method The IRS announced a...
After four years of peppering Illinois business with jabs and crosses, Gov. Rod Blagojevich is ready to deliver the knockout punch. As Greg Hinz reported in Crain's last week, Gov. Blagojevich is about to propose a new gross-receipts tax on Illinoi After four years...
A lot of businesses and their accountants are happy with Notice 2001-76. It contains an unnumbered proposed revenue procedure that allows qualifying small business taxpayers QSBTs to use the cash receipts and disbursements method of accounting as A lot of businesses and their accountants...
WASHINGTON -- Alleging anti-competitive motives, the direct-broadcast satellite industry's trade association last week urged rejection of a 5 percent gross-receipts tax recommended by Time Warner Cable. In a May 20 filing with the Federal Com WASHINGTON -- Alleging...
Satellite broadcasters urged the FCC to reject Time Warner's request that it levy a 5% fee on satellite companies' gross receipts. The cable giant on March 10 asked the FCC to impose the fee and use the proceeds to fund public broadcasting programs Satellite...
A law signed by Gov. George Pataki eliminates the gross receipts tax liability for commercial landlords who supply electricity to their tenants. The issue had become a source of friction between the real estate community and New York City. City tax auA law signed by Gov....
The Internal Revenue Service recently attempted to do business a favor. As of this past Oct. 1, you no longer have to keep receipts for travel, entertainment, and gift expenditures below $75. That's the first change in the receipt requirement since 1962, when the IRS directed businesses to save receipts...
There are many different types of sales journals and cash receipts journals available. To simplify bookkeeping there are different methods to maintain journals. This article explains the concept of sales journals and cash receipts journals with the help of different entries that occurs in daily routine. For...
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