Printing industry tax services
Grant Thornton provides tax advisory services to many of the top printers in North America. Our specialty services include transaction tax, property tax, credits and incentives, controversy and income tax services.
Attend Grant Thornton's July Printing Industry Conference
This year's conference will take place from Sunday, July 18 to Tuesday, July 20, 2010, at the Hyatt Regency Chicago. We'll be covering a wide range of important topics: sales and use tax planning strategies; state income and franchise tax developments; merger and acquisition tax issues; tax audit issues; FAS 5, FAS 109, FIN 48 and IFRS developments; real and personal property taxes; and credits and incentive strategies. Visit our conference page to learn more.
Tax amnesty program will run from July 1 through Sept. 30, 2010
Nevada has enacted budget legislation that includes a tax amnesty program that will run from July 1 through Sept. 30, 2010. The amnesty program applies to taxes, fees and assessments that are due and payable before July 1, 2010. See Grant Thornton State & Local Tax Alert, April 20, 2010.
Court of Appeals determines whether subsidiaries are part of unitary business
The Arizona Court of Appeals found that two of printer R.R. Donnelley & Sons Co.’s subsidiaries, engaged in financing and investment management activities, were not part of its unitary group because they performed an accessory function that was not part of the basic operations of the business. However, the Court concluded that a third subsidiary that held and managed Donnelley’s trademarks was a member of the unitary group because it engaged in basic operations of the business. See R.R. Donnelley & Sons Co. v. Department of Revenue, Arizona Court of Appeals, Division One, No. 1, CA-TX 08-0007, April 29, 2010; Grant Thornton State & Local Tax Alert, released May 13, 2010.
Proposed legislation would repeal the promotional materials exemption
An Assembly Bill proposes the repeal of exemptions for promotional materials, property “purchased, manufactured, processed or assembled” to be furnished to a printer who uses such property in the production of promotional materials and mailing lists. As of May 18, 2010, the New York legislature has not yet acted on this bill as it is still in the process of enacting a final budget. See New York Assembly Bill 9710.
Visit our news page for the latest regulatory and legislative updates.
This website supports Grant Thornton LLP’s marketing of professional services, and is not written tax advice directed at the particular facts and circumstances of any person. If you are interested in the subject of this document we encourage you to contact us or an independent tax advisor to discuss the potential application to your particular situation. Nothing herein shall be construed as imposing a limitation on any person from disclosing the tax treatment or tax structure of any matter addressed herein. To the extent this document may be considered to contain written tax advice, any written advice contained in, forwarded with, or attached to this document is not intended by Grant Thornton to be used, and cannot be used, by any person for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code.
Webcast - sales and use tax and property tax best practices
Join us on June 24 to hear about areas of concern and focus when working on compliance projects as well as how to automate the process. (1.5 CPE credits)
Looking for answers on the taxability of printing products and services?
Check out samples of Print-Trix and Exempt-trix, our comprehensive sales and use tax matrices.
