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Sales Tax Audits - The Danger Grows

TaxConnex

M any industry experts believe that as state tax revenues continue to dry up from the economic shutdown and continuing pandemic , state sales tax audits are likely to increase sharply in the coming months. No audit numbers – yet. Jurisdictions can discover your company’s nexus through audit – and not just an audit of you.

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Alcohol Sellers in Alaska Need New License to Ship Directly to Consumers

CPA Practice

As of January 1, 2024, beverage alcohol producers must have a license to ship alcohol directly to consumers in Alaska. Why did Alaska change licensing requirements for DTC shippers? Why did Alaska change licensing requirements for DTC shippers? How do manufacturers apply for an Alaska direct shipment license?

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State Sales and Use Tax Update

TaxConnex

Alaska’s sales tax collected from online sales into Alaska (in certain local jurisdictions) have helped remote communities balance lost local taxes, news reports say. The Texas Comptroller has posted FAQs on its website regarding post- Wayfair obligations for remote sellers, marketplace sellers and marketplace providers.

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Navigating Cannabis Tax Compliance, Audits, and Section 280E

MyIRSRelief

This dichotomy creates a complex tax landscape for cannabis businesses, particularly concerning compliance, audits, and the infamous Section 280E of the Internal Revenue Code (IRC). Navigating Audit s IRS Audits The IRS has made it clear that cannabis businesses are a priority for audits.

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Don't Test Your Luck with Non-Compliance

TaxConnex

sales tax audits ?are sales tax audits to increase over the next two years.? already seen an increase in audits over that same time. And i n Alaska, individual municipalities are? Jurisdictions can discover your company’s nexus through an audit – but not just an audit of you r business. and pandemic,?

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Four years since Wayfair: A trend takes hold

TaxConnex

Among states without a sales tax, Alaska municipalities were banding together to administer local sales taxes on remote commerce. Companies also wondered if they were collecting and remitting the correct sales tax – and if they were at risk for audit. When would states intensify audits? More states promised similar actions.

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2024: What’s coming up in sales tax

TaxConnex

Weaker state revenue The kind of year it’s going to be for state coffers could greatly influence such future sales tax trends as new levies, tougher nexus thresholds and intensifying audits. By the way, there’s also a chance that Alaska will drop from the ranks of NOMAD states and institute its own statewide sales tax this year.