NOTE: This checklist does not contain the complete specifics of the applicable KRS. Readers should consult the statute for the exact technical requirements.
CPA Evolution is a joint initiative of the National Association of State Boards of Accountancy (NASBA) and the American Institute of Certified Public Accountants (AICPA). The initiative is transforming the CPA licensure model to reflect the rapidly changing skills and competencies the accounting profession requires today and will require in the future. It will put in place a flexible and adaptable licensure approach that will serve as the foundation for future-proofing the CPA profession.
CPA Mark Loyd walks us through state revenues from businesses.
Nexus is a term used for “connection” or “presence” in a state. For a state to impose its income or sales tax on an out-of-state business, there must be a requisite level of connection between the state and the business. The U.S. Supreme Court requires substantial nexus under the Commerce Clause and sufficient contacts under the Due Process Clause. Over time, states have developed and applied differing nexus standards subjecting companies to tax based on physical presence or certain economic connections to the state.
Every business needs a strategic plan in order to thrive, and this has never been truer given the current economic environment.
One of the most important aspects of growing your career is intentionally building your personal brand. This article covers: What is a personal brand? Why focus on your personal brand? How to build it?
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) created a new lending program, the Paycheck Protection Program (PPP), under Section 7 (a) of the Small Business Act (15 USC 636) to provide low-interest loans to certain small businesses. PPP loans are eligible for forgiveness if the requirements specified in the CARES Act regarding use of funds, employee retention and maintenance of salaries are met. The question becomes, during these unprecedented times: How is PPP loan forgiveness reported on financial statements?
New CPE requirements began on January 1, 2021. If you need further clarification, please contact the Kentucky State Board of Accountancy at cpa@ky.gov or visit cpa.ky.gov.
