Mercury derives most of its income from interchange fees and thus does not charge subscriptions to use its product. Additionally, Mercury’s treasury product has an annual interest rate of 1.5 percent while the card enforces a 1 percent currency exchange rate. The firm has raised a little over $250 million in funding while being valued […]

Qualified subchapter S subsidiary treatment is not allowed in any case when the parent and qualified subchapter S subsidiary file under different Articles of the Tax Law (or would file under different Articles if both were subject to New York State franchise tax). Receipts within this state means the receipts included in the numerator of the apportionment […]