Stellantis, IRAs, Corporate Taxes, and Cannabis
Welcome to UHY Insights, where we break down the complex world of U.S. accounting into manageable pieces and actionable intelligence for you and your business. Our authors are a variety of credentialed audit, advisory, consulting, and tax professionals addressing the most pressing issues they are seeing from clients.
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Stellantis Reverses Course on Terms
After months of backlash, Stellantis has officially rescinded the terms and conditions it had forced on suppliers at the beginning of 2022. In a letter to suppliers, Stellantis said it will revert back to the 2021 terms and conditions.
10-Year Rules for Inherited IRAs Cause Confusion
The SECURE Act became law in late 2019 and along with its changes to retirement and estate planning strategies, but it also raised some questions, and the IRS has been left to fill the gaps. In an effort to accelerate tax collection, the most recent change to the SECURE Act eliminated the rules that allowed stretch IRAs for many heirs.
UHY International Study Finds Corporate Tax Rates Plunged to New Lows
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A new study by UHY International shows corporate tax rates in leading economies worldwide have fallen to an average of just 25.1%. However, with the COVID-19 pandemic leaving a gaping hole in the public finances of countries around the world, the trend of declining corporate tax rates worldwide is likely to be over for the foreseeable future.
Key Accounting Considerations for Financing Cannabis in the U.S.
Last year, M&A activity within the cannabis sector soared, with over 305 transactions completed by the end of 2021 alone. Since then, M&A activity in the market has slowed in the face of bad acquisitions and over-promised investors. For cannabis companies in the U.S. currently looking to raise capital through a merger or acquisition or standalone effort, there are some key accounting considerations before making the deal.
UHY Adds Baltimore Region Office Through Merger with Stoy Malone
UHY announced a merger with Stoy, Malone & Company, PC, a full-service certified public accounting and business consulting firm based in Towson, MD. Known for its professionalism and long-standing community ties, Stoy Malone provides a broad range of services to individuals, businesses, and non-profit organizations.
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