As we enter the second quarter of 2022, businesses and their owners face a state of change, disruption and uncertainty on both the domestic and international fronts. Despite the pending developments that have the potential to impact tax planning opportunities and challenges in 2022, there are some areas where tax planning needs are clear and where taxpayers must give their immediate attention. To that end, below are several tax-related moves that business should consider in 2022 including amending returns to capture tax benefits from the pandemic, leveraging deductions that may soon expire, and planning around expired tax benefits and current legislative uncertainty.

The Texas Supreme Court ruled in favor of Sirius XM Radio, finding that the service it performs for Texas subscribers occurs primarily outside the state for purposes of calculating the company's liability for the Texas Franchise Tax.

Managing business personal property taxes can be a daunting task for companies of all sizes. It often requires tracking hundreds or thousands of assets, managing multiple deadlines and preparing tax returns. After all of that, a business must decide whether to pay a tax assessment or protest it.

Online retailers experienced a seismic shift regarding their responsibility to collect and remit sales and use taxes as a result of the U.S. Supreme Court's ruling in Wayfair v. South Dakota (Wayfair) in 2018. While the case directly addresses sales and use tax collection requirements, it has since created ambiguity in how it should be applied to other types of state levies, such as gross receipts tax.

Maryland became the first state to impose a tax on gross revenue from digital advertising when a law it enacted in 2021 took effect on January 1, 2022.

Drop shipment transactions, under which a retailer transmits orders to a manufacturer that then ships the product to the customer, have become an integral part of e-commerce operations.

Tax legislation (S.B. 113) signed by Governor Gavin Newsom makes several important tax changes, including expanding the availability and benefit of the state's pass-through entity (PTE) tax credit, with most provisions taking effect during the 2021 tax year; reinstating the net operating loss (NOL) deduction without limit for tax years beginning on or after January 1, 2022; and eliminating the $5 million tax credit limitation for tax years beginning on or after January 1, 2022.

Taking a business public through an initial public offering (IPO) or merger is a milestone in a company's history, but is it the correct step? The process of going public is costly, difficult, and can continue to overwhelm companies with regulation and public scrutiny once it's over. However, the benefits of liquidity for investors and access to capital for growth and mergers is substantial. This article discusses some of these considerations at a high level.

Proof of Stake (PoS) has emerged as a popular alternative to cryptocurrency mining to add new blocks to a blockchain.