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Mixed Beverage Tax - MBT: What is it?
Most of us are accustomed to paying sales tax because it regularly appears on the receipts of taxable goods or services we purchase. But, what about mixed beverage tax (MBT)? If you can’t remember the last time you paid this tax, it’s for good reason.
Texas Liquor License (MB Permit) vs. Texas Beer and Wine License (BG Permit): Which Should I Get?
People opening a restaurant often wonder: Should I get a liquor license (Mixed Beverage Permit) or a Beer and Wine License (BG Permit) from the TABC? What are the differences in costs and procedures involved in getting these two different permits?
Prices Increase for TABC Texas Liquor Licenses and Alcohol Permits
People planning on applying for liquor licenses should be aware that effective September 1, 2011 the TABC has increased the fees charged for Texas Liquor Licenses and Texas Alcohol Permits. The new fee structure goes into effect for all permits that have not been issued, even those that have been submitted to the TABC for processing with payment under the September 1, 2009 fee schedule prior to the September 1, 2011 date.
How to Get a TABC Texas Liquor License
Anyone hoping to open a bar, restaurant, club, café, or even a grocery will generally want the ability to sell alcoholic beverages. The sale of alcoholic beverage is a profitable but highly regulated and controlled industry. In the state of Texas the TABC (Texas Alcoholic Beverage Commission) issues all Texas Liquor Licenses/Alcoholic Beverage Permits as well as enforcing the laws pertaining to the sale of liquor, beer , wine and other alcoholic beverages. In this article I will provide you with an overview of the steps and processes necessary to get a Texas Liquor License.
Texas Oil & Gas Taxes
Taxation on and in the oil and gas industry continues to be a hotly debated issue at both the state and national levels. Proposed dissolution of oil and gas industry tax exemptions and/or increases in taxes on oil production to plug widening budget gaps are but two of the more contested topics under discussion in federal and state governments Meanwhile, the industry struggles with a dynamic global market, an increasingly insistent group of stakeholders and regulatory pressures.
How to Get a City of Houston Alcohol Permit or Liquor License
A business that seeks to sell alcohol or liquor in Houston, Texas must apply for and receive alcohol permits and liquor licenses from both the TABC (Texas Alcoholic Beverage Commission) and the City of Houston.
Tax Savings: Supply Chain Management and Logistics
Multi-state corporations are evolving from traditional supply chains to integrated enterprise-wide regional or even global supply chains and logistics networking systems. Movement to these comprehensive systems and solutions creates tax savings opportunities, as well as efficiencies. Logistics is an area in which most companies can reduce tax impact.
Recovery Audits -- Beyond Electronic Queries
Overpayments, overcharges, and contract non-compliance are impediments to working capital and profit. Financial errors cost companies thousands, even millions, of dollars in working capital and profit. A Recovery Audit can help identify errors, and eradicate systems issues responsible for these errors.
How to Get a City of San Antonio Alcohol Permit or Liquor License
A business that desires to sell alcohol or liquor in San Antonio, Texas must apply for and receive alcohol permits and liquor licenses from both the TABC (Texas Alcoholic Beverage Commission) as well as the City of San Antonio.
Identity Theft is Alive and Kicking -- How to Reduce Your Chance of Being Victimized by Death Fraud
You’re probably aware of identity theft, but you might not be aware that effective Nov. 1, 2008, the U.S. Federal Trade Commission (FTC) and several other federal agencies now require financial institutions and creditors to have identity theft prevention programs in place to help prevent, detect, and mitigate identity theft occurrences – primarily when the accounts are opened, but also for the duration. This is just one reason why understanding identity theft risk involving decedents is more critical than ever.
7 Common Tax Compliance Mistakes Businesses Make
Very few business owners are as familiar with the tax laws as they should be. Under most state sales tax rules, each sale is presumed to be taxable unless the purchaser provides the seller proper documentation to support an exemption. The following are seven common pitfalls that plague many businesses relative to sales and use tax compliance:
Electronic Tax Filing -- It's Fast, Secure and Free!
As we enter the height of tax season, filing taxes properly and timely is important for you and the government too. Electronic filing is a method of tax filing that has become more and more popular over the years due to its many advantages over filing a paper return via “snail” mail.
What are Home Rule Municipalities in Colorado and How Can they Impact Your Company's Taxes?
Home-rule municipalities have all the powers granted to statutory municipalities and, in addition, all the powers granted by Article XX of the Colorado Constitution. As a practical matter, this means home-rule municipalities have the same power over their own local affairs as the state government has over statewide affairs - including taxing authority.
Following the November 2010 Elections, Have More Liquor Licenses Actually Been Awarded?
Residents of the city of Dallas voted in November 2010 to allow alcohol permits and liquor licenses for restaurants and grocers in Dallas. Convenience and grocery stores were supposed to be allowed to receive alcohol permits to sell beer and wine for off-premise consumption. Likewise, restaurants in Dallas no longer had to have “Private Club Permits” to sell liquor or beer and wine. Restaurants were to be allowed to apply for a Mixed Beverage Permit with a Food and Beverage Certificate. Sounds good. What happened?
How to Get a City of Austin Alcohol Permit and/or Liquor License
A business that desires to sell alcohol or liquor in Austin, TX must apply for and receive alcohol permits and liquor licenses from both the TABC (Texas Alcoholic Beverage Commission) as well as the City of Austin.
Illinois Tax Increase -- When Should You Consider Moving Your Business Headquarters?
Given recent changes in state tax legislation (such as the tax increase in Illinois), companies should consider evaluating their current state and local tax (SALT) situation to decide whether relocating to a state with a more favorable tax climate could prove more profitable. If the decision is made to relocate, a site selection and business incentives consultant can help to determine the best location and negotiate the most competitive package of tax credits and other incentives.
What is an Accounts Payable Recovery Audit and When Should My Business Consider Having One?
Each year businesses lose untold millions to accounts payable errors and fraud. But lost revenues can be reclaimed with an effective accounts payable recovery audit. Highly skilled accounts payable auditors, state and local tax specialists and certified fraud examiners use state-of-the-art tools and technology, as well as hands-on research and examination, to review your records and uncover accounts payable overpayments and overcharges.
Understanding the Costs of Getting A Dallas Texas Liquor License and/or Permit for a Restaurant
Since the November 2010 elections changed liquor regulation in Dallas Texas, many businesses have found that they now have the option of adding liquor or beer and wine sales to their business once they receive a Texas liquor license/ permit and a City of Dallas liquor license/ permit.
Understanding the Costs of Getting a Dallas Texas Liquor License and/or Permit for a Convenience Store
Since the November 2010 local elections altered the landscape of liquor regulation in Dallas, Texas, many businesses have found that they now have the option of adding liquor or beer and wine sales to their line of business once they receive a Texas liquor license/ permit and a City of Dallas liquor license/permit.
What is Nexus and How Does it Relate to Sales Tax?
As businesses expand into multiple states (“multi-state”), the question arises of whether the “foreign” states can force your company to register and collect sales or use tax. Your company’s presence in the foreign state is referred to as “nexus.” Even traveling salespersons, jobbers, repair persons, or independent contractors who perform installation or maintenance in a state where the company is not registered may create sales or use tax nexus with that state.
Recovery Audits Net Bottom Line Gain
Even the best Accounts Payable departments aren’t 100% accurate 100% of the time. Overpayments, vendor duplication, sales tax errors, pricing errors, and sometimes fraud can be found in even the most strictly controlled A/P environments. In challenging economic times, when ongoing cost reduction/minimization is critical to survival, a Recovery Audit can be a wise move – both for immediate savings and to provide intelligence used in ongoing vigilance against waste.
