TaxConnex

JUNE 18, 2024

(Nexus is an economic presence that triggers the obligation to collect and remit tax or at least communicate with appropriate states.) Except not every state has used the same dollar figure or the same total of sales through the last six years. But if states are so serious about sales tax, why don’t they just pick a number?

South Dakota 168

South Dakota North Dakota Alabama Tax 168

CPA Practice

OCTOBER 18, 2023

One crucial factor to consider when selecting your business location is the tax environment. Business taxes can significantly impact your bottom line and overall profitability. The importance of business taxes As an entrepreneur, you face countless decisions when starting a business.

business tax 59

business tax Tax Alaska South Dakota 59

ThomsonReuters

JULY 7, 2021

Federal Employment Taxes. The United States first imposed a federal income tax briefly during the American Civil War and also in the 1890s. Constitution in 1913 that permanently legalized a federal income tax. Next, in 1939, the Federal Unemployment Tax Act (FUTA) was passed, which resulted in an employer tax (typically, 0.6%

payroll 59

payroll Tax income tax payroll tax 59

ThomsonReuters

JUNE 22, 2021

But before we give you a state-by-state rundown on the more mundane upcoming changes, here’s one federal reminder that beginning July 1, 2021, the Employee Retention Credit is claimed against only the employer share of Medicare tax. State by State Payroll Tax Changes. On July 1, the minimum wage increases to $9.00 New Mexico.

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payroll Virginia Utah West Virginia 72

TaxConnex

JANUARY 4, 2024

No year’s ever dull in sales tax, and the pace has only accelerated in the five years since the Supreme Court’s Wayfair decision. As we start the new year, here’s a look back at some significant sales tax events from 2023. This year, multiple states introduced new sales tax exemptions, too.

Sales 232

Sales Tax Colorado Alaska 232

Going Concern

AUGUST 25, 2023

News US Accounting Board Looks Across the Ocean to Fill Hole in Rules [ Bloomberg Tax ] The flood of government aid that helped keep companies afloat during the coronavirus pandemic exposed a hole in US accounting rules: Businesses have no way to record the grants, loans, and tax breaks that bolstered their bottom lines.

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tax preparation CPA payroll tax Illinois 94