- Although general middle-market M&A activity is down year-to-date through the first nine months of 2013, the food and beverage industry has not participated in the decline as M&A activity picked up and there were announcements of several large transactions in Q3.
- With a record setting attendance of over 19,000 people visiting the International Dairy Show and Process Expo, there was ample opportunity for our Valued Business Advisors in the food processing industry to keep abreast of trends and discuss industry challenges.
- States are becoming increasingly aggressive in looking for new sources of revenue. Historically, states have used nexus inquiries, expanded audits for sales/use and income taxes, and new types of business entity taxes to generate new revenue. Another threat, however, looms on the horizon: unclaimed property examinations.
- In September, the IRS and Treasury Department released final regulations providing guidance regarding the deduction and capitalization of expenditures related to tangible property (commonly known as the repair and maintenance regulations). The final regulations will affect all taxpayers that acquire, produce, or improve tangible property.