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Tax Preparer News
New York Collects the Most Income Tax
The Tax Foundation has released a chart detailing state income tax collections per capita for calendar year 2011.
Heading the list was New York, with its high marginal tax rates and wealthy tax base; the Empire State collected an average of $1,864 per resident.
Among the other highest per-capita states for income tax:
- Connecticut ($1,808 per resident);
- Massachusetts ($1,765 per resident);
- Oregon ($1,425 per resident); and,
- Minnesota ($1,404 per resident).
Arizona collected the least income tax per capita ($444 per resident) of states that levied an income tax on wage income. Among other such states:
- Alabama ($583 per resident);
- Louisiana ($527 per resident);
- New Mexico ($514 per resident); and,
- Mississippi ($487 per resident).
At the bottom of the list were seven states with no state income tax: Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming.
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Enrolled Agent News
All Enrolled Agent renewal applications for SSNs ending in 0, 1, 2, or 3 that were timely submitted by January 31, 2013, have been processed. New renewal cards should be received within 10 days.
For those submitted after the due date, processing continues and renewal cards should be received within the next 30 days. As long as you have submitted your renewal application, your enrolled agent status continues to be active between April 1, 2013 and the date you receive your renewal card.
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Notary Public News More Than One In Four Counties Now eRecording Documents The number of jurisdictions capable of electronically recording property records reached the 900 mark earlier this month, according to the Property Records Industry Association (PRIA). That represents approximately 25 percent of the counties, cities and other recording jurisdictions in the U.S., noted Kay Wrucke, Martin County (Minnesota) Recorder and President of PRIA. Since June 2012, the number of recording offices adopting eRecording technology has increased 9 percent. PRIA officials expect to reach the 1,000 mark by the end of 2013. eRecording improves the quality of data, reduces turn-around times and provides significant cost savings when compared to manual recording. Rapid expansion of eRecording has been steady for years, increasing from just 200 counties in 2006 to the current mark of 900, according to PRIA. This growing trend also helps pave the way to a broader acceptance of electronic notarization as a way to expedite the authentication process, improve quality, and enhance the overall security of document transactions. |
CPA News Accountants' Confidence Moderates Somewhat The profession's confidence in the U.S. economy moderated somewhat last month, according to the April edition of Accounting Today's monthly Accountants Confidence Index. After two months of uniformly positive readings, the 3-Month and the 6-Month ACI dropped slightly -- though they still indicated an expectation of growth on the part of the accountants whose responses make up the index. The 3-Month ACI came in at 51.3, down from 52.39 -- but still above the 50 mark that indicates the dividing line between expectations of growth and expectations of contraction. The 6-Month ACI, meanwhile, hit 52.9, down from last month's 53.47. Most of the index's components were down somewhat. The largest drop was in the respondent's short-term expecations for the growth of their own firms. Created in partnership with ADP, the ACI is a monthly economic indicator that leverages the insights of accountants into the strength and prospects of businesses in the U.S. |
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Platinum Promo!
Happy New Year from Platinum. Please use promo code HappyNewYear to receive $15.00 off any 2013 course selection. Expires May 31st, 2013.
Our 2013 courses will be available for purchase starting January 31st 2013.
Please contact Platinum Professional Services at 877 315-1772 or email us at [email protected] if you have any questions.
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