Patriot Software

MARCH 6, 2024

Understand the new Alabama overtime tax law that exempts employees' overtime earnings from state income tax. Get the details and reporting requirements for businesses. Read More

Alabama 97

Alabama Tax income tax payroll tax 97

PYMNTS

NOVEMBER 3, 2020

The company – and its gold trading app – just expanded its reach in the United States with the addition of a license to operate in Alabama. The Alabama Securities Commission on Tuesday (Nov. The future is looking a bit more golden for CORO Global. App users can trade in U.S.

Alabama 93

Alabama South Carolina Montana Idaho 93

Cherry Bekaert

MAY 10, 2023

Alabama and Mississippi are two of the latest states to create new state tax credits and extend existing state tax credits. Alabama Extends and Expands Incentives Programs, and Enacts Tax Credit Opportunities The Alabama Jobs Act (AJA) provides a 1.5%

Mississippi 98

Mississippi Alabama Tax income tax 98

TaxConnex

MARCH 21, 2024

The Foundation found that the five states with the highest average combined state and local sales tax rates are Louisiana (9.56%), Tennessee (9.55%), Arkansas (9.45%), Washington (9.38%) and Alabama (9.29%). Corporate Transparency Act (CTA) has hit a snag: A U.S. Though the U.S.

South Carolina 264

South Carolina Sales Tax Alabama 264

TaxConnex

JULY 20, 2021

Alabama on the other hand, has a unified tax base, meaning localities cannot make their own choices about what to tax and what to exempt, but many local governments handle their own tax administration. (And Louisiana has similarly established a commission for remote sellers to serve as a single collection entity.

Sales 245

Sales Alaska Louisiana Tax 245

TaxConnex

SEPTEMBER 29, 2020

In Alabama , rising pandemic-related online shopping has been a “life saver” for the state’s municipal governments and a “financial vaccine for Alabama’s counties,” the state said. The state’s SSUT has taken in more than $309 million overall during the current fiscal year – almost double the tax generated during all of fiscal 2018-19.

Sales 246

Sales Tax Alabama Texas 246

TaxConnex

MAY 7, 2024

A bill that would raise the online sales tax in Alabama is progressing with state lawmakers. The current Alabama sales tax is 8% for online purchases, the same as for purchases at the state’s brick-and-mortar stores. There’s always something changing in the world of tax, especially sales tax. Leveling the field.

Rhode Island 264

Rhode Island Sales Tax South Carolina 264

TaxConnex

SEPTEMBER 26, 2023

Examples of states with home rule are Alabama, Louisiana, Illinois, Colorado and Alaska. In Alabama, the unified tax base means localities can’t make choices on what’s taxed and exempt. For TPP, where did possession take place? This applies in states where local jurisdictions have the authority to establish their own sales tax rules.

Sales 264

Sales Tax South Dakota Colorado 264

TaxConnex

APRIL 9, 2024

Vitamin and supplement labels can also have “drug facts” that would likely trigger tax as a prescription or nonprescription drug – though if prescribed by a physician vitamins and supplements are exempt from sales tax in Alabama, Indiana, Iowa, Maine, and possibly Hawaii.

Sales 264

Sales West Virginia Tax Virginia 264

TaxConnex

AUGUST 15, 2024

Alabama retains a tax to support veterans – of the Confederate Army. Virginia charges half a buck a sheep to benefit the state’s ovine industry. Pennsylvania’s Malt Beverage and Liquor tax is still on the books to help victims of the Johnstown Flood, which occurred 88 years ago.

Sales 264

Sales South Dakota South Carolina Tax 264

TaxConnex

JANUARY 18, 2024

Other similar home rule states (that is, numerous local tax jurisdictions) include Alabama and Louisiana, where if your sales exceed the state-level thresholds you ignite sales tax in all the local jurisdictions you sell into, as well. (Of Alaska’s 162 municipal governments, approximately 110 already levy some variety of sales tax.)

South Dakota 264

South Dakota Colorado Louisiana Alaska 264

TaxConnex

FEBRUARY 8, 2024

As discussed in our recent “Hot Topics” webinar , Alabama cut its state sales tax rate on food from 4% to 3% effective Sept. More and more states, like Kentucky , are also starting to impose sales tax rates on services , which historically was an area free of sales tax in many states. Rate changes can run contrary to usual trends.

Sales 263

Sales South Dakota Tax Kentucky 263

TaxConnex

JANUARY 25, 2024

Among recent significant developments, this year Alabama became the latest state to rule that exemptions can be granted for contractors and subcontractors who purchasing building and construction materials used in the performance on a contract with an exempt entity.

Utah 260

Utah Kentucky Alabama Michigan 260

TaxConnex

JUNE 1, 2021

Some states, such as Alabama, Mississippi and Wyoming, require filing by a certain day of the month. Lots of different discounts. Most taxing jurisdictions mandate on-time filing and full payment of tax due, among other conditions, to qualify for these discounts.

Sales 246

Sales South Carolina Tax Utah 246

TaxConnex

NOVEMBER 2, 2021

Labels can also have “drug facts” that would likely trigger tax as a prescription or nonprescription drug (this could exempt the vitamins and supplements from state sales tax in some states like Alabama, Connecticut and Kansas and, in some cases, Oklahoma).

Sales 246

Sales West Virginia Tax Vermont 246

TaxConnex

SEPTEMBER 5, 2024

Clearly, rules vary state to state and recently have only gotten more complex (even more so in home rule states like Colorado, Alabama, Illinois and Louisana) though in many states stating shipping separately on the invoice excludes shipping from sales tax. By state Alabama: Shipping exempt if separately stated on the invoice.

Sales 264

Sales Tax Rhode Island Kansas 264

TaxConnex

OCTOBER 19, 2022

Still other states (for example Alabama, Colorado, and Louisiana) have home-rule jurisdictions where separate returns may need to be filed at the local level. Other states (for example California) have local taxes that are reported on the state return.

Sales 246

Sales Tax New Jersey Louisiana 246

Dent Moses

FEBRUARY 24, 2022

Yesterday, Alabama House Bill 231 and Alabama Senate Bill 152 were forwarded to Governor Kay Ivey for signature. The Alabama Society of Certified Public Accountants recently sent out the following guide which addresses many frequently asked questions. Which Alabama taxpayers does this new legislation impact?

Alabama 52

Alabama income tax Tax tax return 52

Dent Moses

FEBRUARY 22, 2024

Alabama House Bill 391 reduced the minimum state business privilege tax in 2023 from $100 to $50. for each $1,000 of net worth in Alabama. The change is expected to save Alabama businesses $23 million. The post Alabama Business Privilege Tax Changes for 2024 appeared first on Dent Moses, LLP. The rates range from $.25

Alabama 52

Alabama Tax tax return Account 52

Accounting Today

MARCH 5, 2024

An Alabama federal district court held that the Corporate Transparency Act is unconstitutional, stating it "exceeds the Constitution's limits on Congress' power."

Alabama 137

Alabama tax accountant Account accountant 137

TaxConnex

AUGUST 8, 2024

Recently, for instance, Alabama degreed that some agriculture products exempt from sales and use tax. Sales tax laws regarding farming can be as diverse as food itself and states, particularly those with a big farming presence, tweak sales tax laws a lot. Examples include cuts of meat, flowers, jams, jellies and peanuts.)

Agriculture 264

Agriculture Sales Tax South Dakota 264

Dent Moses

MARCH 6, 2024

We run this post periodically, and each time, several people report finding funds held by the State of Alabama. Each year, unclaimed or abandoned assets are turned over to Alabama Unclaimed Property by financial institutions and businesses that lose contact with the owners. In 2023, Alabama returned $50.7

Alabama 52

Alabama Construction accounted Account 52

TaxConnex

JUNE 30, 2022

Currently, states with an economic nexus threshold that don’t include gross sales include Alabama, Arkansas, Colorado, Minnesota (though there are special rules concerning “solicitors” in the state) and Oklahoma. In addition, most states determine their threshold numbers by gross sales from all revenue sources, whether they’re taxable or not.

Sales 246

Sales Oklahoma Arkansas Minnesota 246

TaxConnex

JUNE 14, 2022

Currently, states with an economic nexus threshold that don’t include gross sales include Alabama, Arkansas, Colorado, Minnesota (though there are special rules concerning “solicitors” in the state) and Oklahoma. In addition, most states determine their threshold numbers by gross sales from all revenue sources, whether they’re taxable or not.

Sales 246

Sales Oklahoma Arkansas Minnesota 246

TaxConnex

MAY 10, 2022

Here’s a review of some of the recent changes and updates. Florida sales tax exemptions on hurricane-preparedness items may soon encompass purchases of pet food, thanks to the lobbying of a local Girl Scout troop. has become the second state this year to expand its sales tax exemption involving gold and silver.

Sales 242

Sales Mississippi Tax Non-Profits 242

TaxConnex

DECEMBER 28, 2023

Expect more home rule states such as Alabama, Arizona and Alaska to at least begin studying how to simplify their sales tax administration and compliance requirements. Colorado also now has a task force charged with simplifying its sales tax system – a special challenge in a home rule state.

South Dakota 264

South Dakota Sales Tax Louisiana 264

Dent Moses

SEPTEMBER 27, 2023

The Alabama Department of Revenue will send a letter to those impacted. Click here to see the Alabama Department of Revenue Notice: ADOR sales tax change 10.01.23 Click here for a complete copy of the bill: Alabama Bill HB77 – sales tax The post Alabama Sales Tax Reform for Small Businesses appeared first on Dent Moses, LLP.

Alabama 52

Alabama Sales Tax Construction 52

TaxConnex

MARCH 22, 2022

Some states are also more generous than others with their caps: Alabama caps discounts at $400 a month, New York at $200 a quarter. Not surprisingly, you can’t just keep dipping into the discount jar forever. Discounts can be?capped?in in some states either?monthly,?quarterly?or or annually. Arkansas allows up to $1,000 a month.

Sales 246

Sales Utah South Carolina Tax 246

TaxConnex

AUGUST 30, 2022

For example, Alabama and Arizona consider digital apps TPP, and so clearly taxable. These products can include digital books, music, internet TV and streaming media, webinars, subscriptions, software and apps, among other products. Most states and the District of Columbia tax sales of digital products, usually including apps. (In

Sales 246

Sales Tax Wisconsin Massachusetts 246

TaxConnex

JANUARY 11, 2022

Stating the shipping cost separately on the invoice affects its taxability in Alabama, Arizona, Illinois, Iowa, Maryland, Oklahoma, Utah, Virginia and Wyoming. But even a portion of taxable items renders a whole shipment’s shipping cost subject to sales tax in Kentucky, New Mexico, New York and Pennsylvania.

Sales 246

Sales Rhode Island South Dakota North Dakota 246

TaxConnex

JULY 30, 2024

Home rule ” localities’ tax jurisdictions in such states as Alabama and Colorado have their own nexus requirements, as do those in Illinois (Chicago) and Louisiana (parishes). Additional complexities: The five NOMAD states – New Hampshire, Oregon, Montana, Alaska and Delaware – do not have a statewide sales tax.

South Dakota 264

South Dakota Alaska New Hampshire Montana 264

Accounting Today

SEPTEMBER 14, 2023

From Alabama dinosaurs to pickleball, accountants have studied some unusual things to fulfill their education requirement.

cpas 133

cpas Alabama Education Account 133

CPA Practice

MARCH 8, 2024

There are currently two annual sales tax holidays in Alabama: A severe weather preparedness tax-free weekend in February and a back-to-school tax-free weekend in July. A new tax holiday will join them starting in 2025 should House Bill 257 become law: The twice-yearly Alabama Adventure Awaits sales tax holiday.

Alabama 52

Alabama Sales Tax Florida 52

Dent Moses

JUNE 21, 2023

Following this most recent 2022 filing season, many taxpayers in Alabama have reported receiving letters regarding nonpayment. Electronic payment methods, such as those available through the My Alabama Tax website, offer numerous advantages. They allow for faster processing, reduced reliance on manual handling, and improved accuracy.

Alabama 52

Alabama Tax Construction accounted 52

PYMNTS

AUGUST 3, 2020

The University of Alabama will be reimbursing its students for ticket plans that were bought in the spring for this year’s football season, Roll Tide Wire reported. As the pandemic continues to disrupt everyday life the world over, consumers in many cases might want refunds on things they have already paid for but may not be able to use.

Alabama 60

Alabama Gaming Sales 60

TaxConnex

MAY 19, 2022

Other states such as Alabama, Colorado and Louisiana have home-rule jurisdictions where separate returns may need to be filed at the local level. Your localized tax obligations are usually determined by states’ economic nexus thresholds (which also change frequently).

Alaska 246

Alaska Colorado Louisiana West Virginia 246

Dent Moses

MARCH 27, 2023

Homestead Exemption In Alabama, a homestead exemption is available for a single-family owner-occupied dwelling and the land thereto not exceeding 160 acres. Alabama classifies property using four classes with varying tax ratios applied to the assessed value. Tax ratios range from 10% to 30%. Class II property has a tax ratio of 20%.

Alabama 52

Alabama Tax Construction accounted 52