Certified Public Accountants
& Business Consultants 

On Thursday, August 27, RubinBrown hosted a panel of St. Louis venture capitalists at Venture Café. Steven Harris, Partner-In-Charge of RubinBrown’s Entrepreneurial Services Group, facilitated a panel discussion featuring Jennifer Ehlen of Prosper Capital, Carter Williams from iSelect Fund, Kyle Welborn from Cultivation Capital and Scott Bernstein of Lewis & Clark Ventures.

The following are highlights from what was a great, interactive discussion.

On August 14, the Governmental Accounting Standards Board (GASB) issued Statement No. 77 (Statement 77), Tax Abatement Disclosures. The purpose of this statement is to provide financial statement users with further information related to a government’s tax abatement agreements.

Governor Bentley signed legislation establishing a factor presence nexus standard for business activity, effective for tax years beginning after December 31, 2014, for purposes of business privilege taxes, income taxes, and financial institution excise taxes.

Based on the recent Supreme Court Ruling, Comptroller of Treasury of Maryland v. Wynne, the Kansas Department of Revenue has advised the Kansas Legislature that they are now interpreting the Kansas Statute allowing credit for taxes paid to other states to include the Kansas City, Missouri earnings tax.
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