Talk about your sticky wickets. Pardon what might seem a flip remark about a sensitive issue, but it's hard to describe the situation regarding legalizing marijuana any other way. Minnesota is only at the stage of allowing the use of marijuana for a short list of specific medical conditions. Regulatory structures for that aren't in place yet and the notion of recreational marijuana isn't enjoying much support at the State Capitol.
Confrontations with Minnesota or federal tax collectors are not something any business or individual looks for. Avoiding practices that could lead to needing to resolve tax disputes is something most experts agree deserves prioritizing. Achieving that aim typically requires solid tax planning, or as singer/songwriter, Carly Simon crooned about – "Anticipation."
Back in the 1990s, the U.S. Supreme Court issued a ruling that established that if a business has a physical presence in a state, even if that presence is a person, sales taxes apply to any transactions that occur. As we noted in a series of posts more than a year ago, this notion of so-called nexus hasn't stood the test of time all that well.
Being a responsible person is a good thing. Of course, there are two sides to every coin and the same applies when using this term. In terms of the IRS, carrying the responsible person label in a role associated with a Minnesota business can mean significant headaches for you in the event of a dispute over taxes.
There is tax evasion and then there is tax avoidance. The former isn't something anyone with experience in tax law would recommend. The latter is legal, but the caveat is that there are limits to what is possible.
The IRS uses many tools to identify and go after individuals to meet their tax obligations. Those with experience dealing with federal or Minnesota tax issues know that one of the most common is the audit. The error many people seem to make, though, is drawing the conclusion that an audit means the agency already believes the taxpayer is guilty of doing something illegal.
You do business in Minnesota or Wisconsin, or both. In today's business environment, the big buzzword is growth. If you aren't growing, your business is dying. At least that's the admonition from some business experts.
On this day in history, U.S. Grant won the presidential election of 1868. That's just one little tidbit of trivia that has been recorded and which operations like The Associated Press make available to subscribers.
If you are considered a threat to national security, there are people in the government who have been trained to deal with you. They go by different names. Delta Force. Navy Seals. In the fictional realm, you have Men in Black. The thing that these forces all have in common is that they are made up of specialists. In MIB, they're humorously referred to as, "the best of the best of the best."
When you buy a car in Minnesota or Wisconsin, you pay a sales tax on the price of the whole vehicle. You don't, nor should you expect to, pay taxes on the purchase of every individual part that goes into that vehicle. Many experts would likely argue that such a practice is inherently impractical and perhaps represents a misapplication of state tax authority.