Deadline extended to pay restaurant sales tax in Arkansas
In response to the coronavirus pandemic, the state of Arkansas has delayed the payment of restaurant sales tax. Taxpayers in Arkansas may delay remitting restaurant sales tax and filing returns as follows: Sales tax remittances and reports for sales tax collected in March, April and May 2021 are not due until June 30, 2021; sales tax remittances […]
State laws differ in treatment of PPP loan expenses
Business owners sighed with relief when Congress approved the Consolidated Appropriations Act of 2021 allowing for PPP loan expenses to be deducted on federal taxes. It’s important to remember, though, that states pass their own tax laws – some of which may or may not conform to the federal tax laws. For instance, South Carolina […]