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A person with income from selling a Schedule I substance is allowed to take a tax deduction for the cost of goods sold but not any other tax deductions. [21] [23] Unlike for other business activities, tax deductions are not allowed for ordinary and necessary business expenses such as rent, utilities, and advertising. [24]
Direct Marketing Association v. Brohl, 575 U.S. 1 (2015), was a United States Supreme Court case in which the Court held that a lawsuit by the Direct Marketing Association trade group about a Colorado law regarding reporting the state's tax requirements to customers and to the Colorado Department of Revenue is not barred by the Tax Injunction Act. [1]
When residents purchase from retailers out of state (including over the Internet) they are supposed to report these purchases and pay the sales taxes owed—which are typically referred to as a "use tax." As you can imagine, few people do. The result is to narrow a state's sales-tax base.
A New York regulator on Tuesday fined Geico $910,000 for violating state insurance laws by failing to timely report new business and other vehicle registration information to the state's ...
It was the first company to sell vehicles online directly to consumers, rather than referring consumers to brick-and-mortar dealers. [ 2 ] CarsDirect first registered for an initial public offering in a May 2000 filing with the U.S. Securities and Exchange Commission ; however, it withdrew its registration in December of that year citing ...
The internet can be a fun place to interact with people and gain info, however, it can also be a dangerous place if you don't know what you're doing. Many times, these scams initiate from an unsolicited email. If you do end up getting any suspicious or fraudulent emails, make sure you immediately delete the message or mark it as spam.
The latest annual report from the state's Multi-Agency Illegal Tobacco Task Force (published in February 2024) notes: "Field personnel are routinely encountering or seizing untaxed menthol ...
Ten days later, on Nov. 27, Cole and Thompson went to retrieve their car, only to discover it was “already gone and sold.” Cherokee Auto Sales didn’t give the couple much of an answer as to ...