Anthony Sykes & Company

Starting in January of 2020 , California will require all residents to have basic health insurance. The bill passed in the California Assembly is called the California Health Care Coverage Shared Responsibility Act. This “Individual Mandate” is like what was seen in the Affordable Care Act. There will be a fine for individuals who do not secure health coverage. This can be applied based on the number of months, or the size of the household. One big difference with this requirement is that the Franchise Tax Board ( FTB ) will not fine employers who do not offer health care to their employees. The fines that are collected will help to create subsidies for those who have difficulties paying for the insurance. These individuals must meet certain specific criteria. Members of Native American tribes and those who receive certificates of exemption will not be required to be a part of this program. The FTB will administer the program and any penalty will be reported on, and paid with,...

         Taxes in the digital landscape have now taken hold. In the United States, Sales Tax on transactions that take place on the Internet must now be collected, even if that company does not have a physical presence in that state. It took a Supreme Court ruling to change this fundamental way so many online firms handle business. However, this change is by no means just a national issue.           European countries are considering different ways to tax multinational digital companies. At its core, these taxes will take a percentage of sales from user information, digital ads, and other sources of revenue. In some cases, the taxes will only apply if the company meets a certain threshold, in others it will be focused on the business activity that is generated in that country. Either way, these Digital Taxes are something new that must be navigated on the road of entrepreneurship. There have been accusations t...