KOM Consulting, PLLC

Important Tax Update for Insurance Affiliates! The Washington Supreme Court recently ruled in Envolve Pharmacy Solutions v. Department of Revenue that affiliates of insurance providers may qualify for a B&O tax exemption if the gross premiums tax has already been paid. This decision clarifies years of inconsistent guidance from the Department of Revenue and presents a significant refund opportunity for affiliates providing administrative services. It also raises a key question: Could any entity—not just affiliates—qualify if the premiums tax is paid? Read the full analysis to understand how this ruling could impact your business: https://lnkd.in/gQ87vE5r #TaxLaw #Insurance #WashingtonState #BusinessTaxes #LegalUpdate

Important Update on B&O Tax Deductions in Washington State The Washington Supreme Court's recent decision in Antio, LLC v. Department of Revenue restricts the B&O tax deduction for investment income, impacting businesses that generate significant investment revenue. The ruling limits deductions to investment activities that are “incidental” to the main business, posing potential tax liabilities, penalties, and interest for non-compliance. Businesses should promptly review their reporting practices and consider strategies to mitigate risk while awaiting potential legislative or judicial updates. #taxes #washingtontaxes #businessinWA

A new apportionment rule is making headlines in Washington State – and one of these headlines was written by our very own @Caleb Allen! Check out Caleb’s expert summary of the coming changes in his article published in @Tax Notes. Contact us for help understanding how this new rule will affect your business for filing in 2024 and beyond. #taxapportionment #taxes #washingtontaxes #businessinWA

Taxpayers should consider reviewing their methods of apportionment in Washington after the Department of Revenue published its new apportionment rule 19402. In an article published in @TaxNotes, KOM Senior Tax Manager @Caleb Allen shares his insight into the significant changes. Note all taxpayers filing returns with apportionable income will need to file their reconciliation return by October 31, so contact us today for help understanding the new rule.? #taxapportionment #taxes #washingtontaxes #financeWA

A new apportionment rule will soon affect Washington businesses, and we’re ready to help our customers understand the changes. Using a new framework of questions from the ruling, businesses should evaluate their current sourcing in preparation for apportionment reconciliation due in October this year. Check out this article by our Senior Tax Manager Caleb Allen to learn more about the details and how we can help you.?

As experts in state taxes across diverse industries, we’re constantly tuned into cases that affect our clients, like this recent ruling about sales tax charged for transactions in the construction industry. It’s critical for our clients to know how to manage tax risks – and that’s the service we provide for you. Check out what this case means for the construction and real estate industry, as summarized by our Founder and Managing Tax Director @Michael Roben and our Senior Tax Manager @Caleb Allen. #multistatetaxes #taxcompliance #businesstax

Allow us to reintroduce ourselves! ? Actually, it’s still us: the same team that has been dedicated to your SALT needs for over 18 years. We refreshed our look and launched a new website! ? ? The truth is, we’re usually too heads-down in client work to give much thought to marketing. Our clients tell us again and again that we do things differently, and we wanted our brand to portray the unique consulting culture we’ve worked hard to create. ? ? The new crisp and modern design reflects our pragmatic approach to the work: our "what you see is what you get" experience. The curved lines that come together in our logo, forming a single "K" shape, represent the collaborative connection we develop with our clients. Even the photography on our website shows our own special view of the place we call home. ? Read our blog for more details on why and how our new look was created! https://lnkd.in/gBTF3bi8

We’ve grown a lot since our founding in 2005. We have a new brand identity, but rest assured it’s the same dedicated team standing behind it. ? We’re all here because we’re passionate about SALT – state and local taxes (SALT). Seriously! Where many people see complexities and headaches, we see risks, opportunities, and puzzles to solve. With decades of experience and creativity at our core, we are not your average accounting team. ? ? Learn more on our new website and connect with us!? www.komconsulting.com

We’re excited to launch our new brand and website! ? We admit for us, it’s always been about the work. We are tax people through-and-through, so branding and marketing sometimes get treated as an afterthought. ? But we’re proud of the company we’ve built over the last 18 years, and we want our unique approach to be reflected in our brand. ? At the heart of this effort was elevating the things that make us special: Our flexibility, creativity, and the decades of real-world experience that enable us to serve clients at any scale and deliver more value at every step. We don’t just know the tax code, we know business. We don’t just write memos, we solve problems. ? Check out our new site and see how we help companies turn tax strategy into a business asset. www.komconsulting.com