BLS Insights

Discover the depth of BLS knowledge and information.

Month: July 2018

2018 Tax Cuts and Jobs Act – Like-Kind Exchanges

July 25, 2018

The Tax Cuts and Jobs Act made modifications to the treatment of certain like-kind exchanges.

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South Dakota v. Wayfair

July 17, 2018

Prior to a recent U.S. Supreme Court ruling, the standard to determine “substantial nexus” for sales tax purposes was based on “physical presence” as provided in Quill v. North Dakota.

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2018 Tax Cuts and Jobs Act – Other Business Provisions

July 12, 2018

NOL Deduction – Under the old law NOL utilization was not subject to limitations based on taxable income.  Under the new law NOL utilization will be limited to 80% of taxable income.  Also under old law NOL’s could be carried back 2 years and forward for 20 years.  Under the new law NOL’s can no … Continued

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NEW! Tax Exempt Organization Search

July 11, 2018

In early May 2018, the Internal Revenue Service (IRS) introduced a new tool called the Tax Exempt Organization Search.

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Fiscal Year Corporation “Blended” Tax Rate

July 03, 2018

Under the newly enacted Tax Cuts and Jobs Act, the corporate tax rate decreased from a maximum of 35 percent to a flat 21 percent rate beginning in 2018.

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