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Tax Hot Topics: Retail Update

The May 2013 of Tax Hot Topics for retailers includes the following:

  • IRS’s proposed changes to the retail inventory method of accounting
  • The latest developments in states’ efforts to withdraw from the Multistate Tax Compact
  • Recent changes in combined reporting, including the controversial New Mexico combined reporting legislation that is exclusive to big box retailers
  • Federal developments, such as the U.S. Senate’s approval of the Marketplace Fairness Act, which would allow states to impose sales tax collection requirements on remote sellers

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