On Friday, September 13, 2019 the IRS issued final and proposed regulations that clarify bonus depreciation and interest expense for dealerships with floor plan financing.
As the California legislature wraps up the 2019 session Sept. 13, lawmakers push to pass bills that will have a significant impact on agriculture and businesses in the state, including Senate Bill 1, Senate Bill 54, Senate Bill 468 and Assembly Bill 5.
On July 1, California Governor Gavin Newsome signed Assembly Bill 91 into law, selectively conforming California’s tax laws to certain changes made under the Tax Cuts and Jobs Act of 2017 (TCJA) limiting like-kind exchanges of real property after Jan. 10, 2019. California state tax law does not automatically mirror federal tax law.
A federal appeals court sided with a group of farm equipment makers that challenged a 2017 North Dakota law regulating the relationship between manufacturers and dealers Friday, Aug. 2.
In the near future, the U.S. House of Representatives is expected to consider the Raise the Wage Act (H.R. 582), which would more than double the federal minimum wage to $15 per hour. While the U.S. Chamber of Commerce is willing to work with members of Congress to develop a legislative package that includes an…
The Governor recently came out with his May Revision to his budget, which included a revision to his proposed Cap and Trade Expenditure Plan. The revision added $65 million to the funding for Ag Diesel Engine Replacement (FARMER Program).
Following pressure from lobbyists, including a last-minute play by Apple, a California right to repair bill was pulled by its cosponsor for a second time, giving tech companies opposing the legislation a one-year reprieve.
With last year’s Wayfair ruling on sales tax collection, dealers can expect heightened enforcement actions in the coming year. The ruling tied sales tax collection to the amount sales and number of transactions.
California AB 468 would repeal all major business tax incentives by December 2023, if certain conditions are not met, and result in one of the largest tax increases in recent years.
Seven states, Mexico, dozens of competing water interests, Arizona’s state legislature, and Congress all beat the odds to do their part to get the agreement to the president’s desk in the nick of time.