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Covid-19 Vaccine Covishield being transported to various parts of the country from Pune BENGALURU: India, which is known to produce a significant share of vaccines in the world routinely, is estimated to produce the second highest number of Covid-19 vaccine doses after the US in 2021, according to analysis of publicly available production deals. Data shared with TOI by UK-based science information and analytics company Airfinity shows that as of January 12, Indian firms would be manufacturing more than 3.6 billion doses of six different vaccines this year, compared to 4.8 billion doses of 12 candidates estimated to be produced in the US. However, at least some of the candidates that US firms have deals for are unlikely to be ready for market this year, indicating that the estimations for the country may dip later. ....
To embed, copy and paste the code into your website or blog: To change its method of accounting, a taxpayer must receive consent from the IRS and should provide evidence showing the change in business activity, so that the IRS can confirm that the change in method of accounting will accurately reflect income.
While it remains illegal to buy and sell cannabis under the federal Controlled Substances Act, the IRS collects income taxes from cannabis businesses, which largely operate under various state laws. By selling a Schedule I controlled substance, cannabis businesses are largely restricted from claiming business expense deductions and certain costs of goods sold (COGS) to reduce their tax liability. Failing to properly report and pay income tax can lead to hefty penalties, so it is important for cannabis business owners to be aware of Internal Revenue Code (IRC) provisions and IRS regulations that impact the reporting of cannabis-related income and expenses. ....