Teri Grahn, CMI
What the SBA's New Quality of Earnings Requirement Means for Business Acquisitions
The SBA's new SOP 50 10 8.1, effective October 1, 2026, adds a formal Quality of Earnings (QoE) requirement to certain SBA-financed acquisitions...
Editor's note: This piece was originally published in 2020 and has been updated to reference new changes in Illinois state law.
Illinois has passed bill SB 3362, amending the Leveling the Playing Field for Illinois Retail Act and now requiring remote sellers to collect sales and use taxes based on destination rates.
Under the existing law, enacted on January 1, 2021, remote sellers with some sort of physical presence in the state were only required to collect tax at 6.25% and were not required to collect any applicable local taxes.
Effective January 1, 2025, remote sellers, with some sort of physical presence, will need to collect state and local sales tax based on the sales destination rate. In-state retailers will still collect sales tax based on the rate that the sale originated from.
If you have any questions, contact Teri Grahn at 651-407-5889 or tgrahn@redpathcpas.com.
Missed a Form 5471 Filing? Here's What You Need to Know
Discovering that Form 5471 wasn't filed with your tax return can be unsettling. The IRS imposes significant penalties for missed international...
2026 M&A Market Update: More Deals, More Scrutiny, and a Growing Divide
Joe Hellman, CPA: August 20, 2026
At our recent Corporate Development event, 2026 M&A Market Update, panelists discussed the forces shaping deal activity midway through the year and...