Akash Sehgal

Partner

Teaching and mentoring staff makes this a worthwhile profession. I especially love opportunities to watch someone else grow and enjoy their career.

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Fun Facts

Favorite place in the world:

Mumbai, India

Favorite music/band/singer:

Sound Garden

Favorite movie or book of all time:

Shawshank Redemption

One word that best describes me:

Resilient

When I’m not working, you’ll catch me doing this:

Reading and working out.

    Steps Online Retailers Should Take Now that Wayfair Has Been Decided

    The U.S. Supreme Court’s decision last week in South Dakota v. Wayfair (please see our previous Tax Alert on the subject) is one of the biggest, if not the biggest, state tax cases in the past 25 years. The high court’s decision allowing South Dakota the ability to require that sales tax be paid on online retail sales – even when a company does not have a physical presence in the state – has a wide range of implications for online retailers who sell on an interstate commerce basis. The decision […]

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      Three Great Tax Opportunities for Food and Beverage Companies

      Many food and beverage companies are overlooking potential tax savings, thinking that their activities do not qualify for these opportunities. Based on our experience working with clients in this industry, Green Hasson Janks has identified a number of potential strategies you should consider. We have kept the information at a high level to stimulate conversation and to avoid too technical of a discussion in this blog entry: California Manufacturing Partial Sales Tax Exemption – For purchases or […]

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        Updated Statistics and Timing for California’s Film and Television Tax Credit Program

        In 2009 the California Film Commission, a one-stop office for filmmakers, created the Film and Television Tax Credit Program to encourage in-state film production. This year the Commission further incentivized filmmakers to stay in California by expanding the program and increasing funding from $100 million to $330 million. The updated program offers tax credits for each project that provide line worker wages and help fund equipment vendors. Applications are ranked from highest to lowest based […]

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          Landmark U.S. Supreme Court Case Provides Good News to Entertainers

          In what is considered by many to be a landmark decision in favor of taxpayers, the U.S. Supreme Court narrowly struck down Maryland’s double taxation scheme as unconstitutional. The issue in Wynne vs. Maryland, was whether Maryland’s taxing scheme of not allowing a resident taxpayer a credit for taxes paid in other states was in violation of the U.S. Constitution’s dormant Commerce Clause, which provides Congress with the authority to ensure that a state’s authority does not discriminate against […]

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            Food and Beverage Companies – Don’t Forget About Those California Tax Incentives!

            California would never be accused of being a tax-friendly state.  From high personal and corporate income taxes to high sales/use and gasoline taxes to limited tax credit and incentive programs, California is consistently ranked one of the least tax-friendly states in polls. The high tax burden that companies headquartered in California experience has led to a recent exodus of companies from the Golden State.  Just this past year two major corporations, Occidental Petroleum and Toyota’s U.S. […]

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              California Ruling – Sourcing of Management Fees for California Nonresidents

              California recently issued Franchise Tax Board Chief Counsel Ruling 2013-04, which deals with the sourcing of management fees for nonresidents of California for services provided to a private equity fund (“PEF”) and to the fund’s portfolio investments where the services were performed wholly in California. Facts The taxpayer, an individual nonresident of California was the founder and a member in a limited liability company (“LLC”) based in California that provided management services to a PEF […]

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                California’s New Partial Sales Tax Exemption for Manufacturers and Certain Biotechnology Companies

                The State of California has enacted a new law affective July 1st, 2014, allowing manufacturers and certain Research and Development (“R&D”) companies a partial sales/use tax exemption on certain manufacturing and R&D equipment purchases. How much Sales or Use Tax is Exempt? – The partial exemption applies to the state sales and use tax rate portion which is currently at 4.1875%. The exemption does not apply to any local, city, county, or district tax. For example, a taxpayer could […]

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                  Nonprofit Organizations Need to be Aware of California’s Withholding Tax Obligations

                  During our August nonprofit workshop, our nonprofit team shared the latest in accounting and tax updates, as well as insights from AICPA's recently revised Audit & Accounting Guide for Not-for-Profit Entities. We posed various questions during our workshop and over the next few blog postings, we will share the answers to those questions. During our firm’s recent nonprofit quarterly workshop, we discussed a number of topics on both the audit and tax side.  One topic in particular generated a […]

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                    California BOE Publishes New Sales Tax Industry Guide for Nonprofits

                    California sales/use tax law can be complicating to most businesses and organizations that operate in the state. In particular, nonprofit organizations must deal with the taxability issues of retail sales and meals and entertainment while being aware of the limited exemptions for these entities under California law. In an effort to assist nonprofits with better understanding their California sales/use tax obligations, the state has created a nonprofit sales/use tax portal with applicable […]

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                      California’s Taxation of Non-California Based Businesses in Light of Proposition 39 – April 2013

                      California’s passage of Proposition 39 combined with California’s “doing business “ requirement for income/franchise tax purposes creates a potential tax compliance and reporting issue for businesses based outside of California that are deriving income from California sources. This tax publication includes information on the following: “Doing Business” in California Determining "Sales" from California Sources Impact of Proposition 39 Next Steps for Non-California Based Businesses Click […]

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                        State’s Aggressively Looking to Expand Sales Tax Collection to Online Retailers

                        California residents most likely have noticed that California sales tax has been charged by online retailers such as Amazon.com recently. After much debate and negotiation with the State of California on whether the state’s sales tax collection rules applied to Amazon’s business model, Amazon agreed to collect sales tax from California customers beginning in September 2012. California, New York and Texas were among the first states to assert “click through” and affiliate nexus arguments against […]

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