TaxConnex

JANUARY 28, 2021

There’s always something changing or new going on in the world of tax, especially sales tax. Nationwide , the Streamlined Sales Tax Governing Board has made amendments to the Streamlined Sales and Use Tax (SST) Agreement to revise its amnesty-related provisions. It’s reported to bring about $9 million in revenue annually.

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TaxConnex

FEBRUARY 9, 2021

If you sell into the handful of states that don’t have nexus or don’t have a general sales tax, you might think you’re home free when it comes to obligations to remit sales tax. Forty-five states and the District of Columbia have a statewide sales tax. Alaska, Delaware, Montana, New Hampshire and Oregon do not.

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TaxConnex

SEPTEMBER 14, 2021

There’s always something changing in the world of tax, especially sales tax. Dire forecasts of states’ plunging sales tax revenue in the age of COVID continue to be proven wrong. billion for next year – with online sales taxes making up a substantial portion of the take. Texas sales tax revenue totaled $3.39

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TaxConnex

MARCH 21, 2024

There’s always something changing in the world of tax, especially sales tax. The Court of Appeals of South Carolina has affirmed a state Administrative Law Court (ALC) finding that the online retail giant remains liable for eight figures in unpaid sales tax on third-party sales from 2016, interest and penalties. The ol’ one-two.

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TaxConnex

DECEMBER 5, 2023

Clubs and dues have been around for decades, but the rise of certain memberships – and the ability to sell them over the internet – have also raised the question of whether memberships incur sales tax. Health and fitness club In some states membership in one of these creates a sales tax obligation; in others it doesn’t.

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TaxConnex

AUGUST 27, 2024

Have Home Rule Jurisdictions Made the Burden of Managing Sales and Use Tax Too Much? As if managing sales and use tax obligations on a multi-state level wasn’t hard enough, some states make it even tougher with “home rule,” where jurisdictions are granted the authority to pass their own, additional tax laws.

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TaxConnex

SEPTEMBER 26, 2023

Usually all retail sales of tangible personal property (TPP) are taxable, but many states have started to tax services. Who the customer is and what they’ll use the TPP for can create a sales tax exclusion, too, such as when selling to a church or government agency. They also take the burden of sales tax obligation off the seller.

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TaxConnex

AUGUST 30, 2022

Many tech companies consider themselves a service provider exempt from sales and use tax. But the 2018 Wayfair decision expanded the definition of nexus and and more of these businesses are now subject to sales and use tax collection, including on one of their product staples: apps. What about the sales tax?

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TaxConnex

MAY 19, 2022

Given the complexity that already exists regarding sales tax, it’d be great if states were the only jurisdictions that levied them. Local sales are becoming an increasing burden for online sellers as cities, counties and towns nationwide constantly tinker with their own sales taxes and other jurisdictions create new economic nexus rules.

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TaxConnex

MARCH 10, 2022

But what exactly is economic nexus – and, more importantly, have you kept up with its constant changes in the sales tax realm? Sales tax nexus is the connection your business has with a state or local taxing jurisdiction. It can be physical in the form of one of your offices actually being in a state or other tax jurisdiction.

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TaxConnex

MAY 24, 2022

One relatively new development is the complex overlay of sales tax on these transactions. Add internet sales to the mix and you’ve got sales tax obligations sprouting up these days more than ever. About half managed sales tax compliance completely internally and about a third managed it with technology and some internal personnel.).

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TaxConnex

AUGUST 31, 2023

Online selling of products and services triggers sales tax obligations today like never before – and has ever since the Supreme Court’s 2018 Wayfair decision unleashed economic nexus on e-commerce merchants nationwide. Some businesses can manage the calculation of sales tax without separate sales tax software systems.

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TaxConnex

DECEMBER 3, 2024

There’s always something changing in the world of tax, especially sales tax. The five-letter acronym stands for the states without a statewide sales tax – New Hampshire, Oregon, Montana, Alaska and Delaware – and two of those states might be leaving the group sooner than later. billion-plus from a 4% sales tax in FY25.

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TaxConnex

JULY 30, 2024

Sales tax isn’t simple. Here’s a step-by-step overview of various complications of sales tax compliance – and how to handle them. Then came 2018’s South Dakota vs. Additional complexities: The five NOMAD states – New Hampshire, Oregon, Montana, Alaska and Delaware – do not have a statewide sales tax.

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TaxConnex

JANUARY 27, 2022

The explosion of the e-commerce market alone would’ve made handling sales tax obligations in-house tough. Due to all of the above, it’s hard to fill any position at this point, but a job with specific skills, especially with experience managing sales and use tax, can be downright impossible. Local jurisdictions from Geneva, N.Y.,

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TaxConnex

MAY 27, 2021

Taking advantage of sales and use tax exemptions can save your business money and headaches. In general, exemptions are statutory exceptions eliminating the need for the retailer or business to collect sales tax on a particular transaction or on all transactions with a customer. Necessary paperwork for sales tax exemptions.

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TaxConnex

FEBRUARY 10, 2022

In a little more than three years since the Supreme Court’s Wayfair decision , multi-state sales tax has gone from a simple obligation for some companies that were based solely in one state to a nightmare of complying with 50 different states’ sales tax rules. Also with some states, you must specify the tax you’re registering for (e.g.,

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TaxConnex

AUGUST 25, 2022

In a field that changes as fast as sales tax, it’s a necessity. You generally have three options to address your sales tax compliance obligation: try to manage everything in-house; outsource to an experienced provider; or do nothing and roll the dice. This one of the key steps to complying with sales and use tax laws nationwide.

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TaxConnex

JUNE 9, 2022

What’s new in May for state sales and use taxes. There’s always something changing in the world of tax, especially sales tax. Exempting groceries from sales tax as American families struggle with inflation and other economic woes is politically tempting. million in taxes a year on the sale of groceries.

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TaxConnex

JANUARY 18, 2024

What’s the latest brewing today in sales tax? Physical nexus standards – such as having offices, staff or inventory in a state – had long mandated that retailers had to collect and remit a state’s sales tax. Of Alaska’s 162 municipal governments, approximately 110 already levy some variety of sales tax.)

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TaxConnex

APRIL 6, 2021

There’s always something changing in the world of tax, especially sales tax. The Alaska Remote Seller Sales Tax Commission has approved its “Remote Seller Sales Tax Code & Common Definitions” that would apply to local municipalities in Alaska that choose to adopt it. 10 to report use tax.

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TaxConnex

JUNE 21, 2022

The Supreme Court Wayfair decision four years ago gave tax jurisdictions the sudden power to require countless companies to collect and remit sales tax. In many respects, Wayfair also opened the path to levying additional kinds of tax obligations on businesses that sell online as eCommerce becomes more and popular.

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TaxConnex

JANUARY 7, 2021

If you were to read our 5 Steps to Sales Tax Compliance, or any guide on maintaining sales tax compliance, understanding the taxability of your products and/or services would be one of the first steps. Taxability becomes confusing with software which tends to have varying tax rules from state-to-state. Is it SaaS-based?

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CPA Practice

OCTOBER 9, 2024

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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TaxConnex

JUNE 20, 2023

Almost five years ago, the Supreme Court’s Wayfair decision was heralded as a revenue gateway for almost all states to require remote sellers to collect and remit sales tax. In 2021, the Government Accountability Office estimated nationwide remote sales tax collections to be about $30 billion. Some states never adopted one.)

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TaxConnex

JANUARY 17, 2023

Online sales could not exist without shipping, and the charges associated with shipping are subject to sales tax in many states. Question is, who has to pay that sales tax these days, and where? For sales tax purposes, you’ll see reference to “shipping,” “shipping and handling” (Arizona taxes these two, for instance) and “delivery”.

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TaxConnex

MAY 23, 2023

Last time we looked at a sample of the strange sales tax laws regarding food, including a sliced bagel in New York. If only that was the only complex category concerning sales tax. Diapers and groceries are taxed in Hawaii, Idaho, Utah, Kansas, Missouri, Oklahoma, Arkansas, Tennessee and Alabama, Mississippi and South Dakota.

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TaxConnex

SEPTEMBER 28, 2022

By now most businesses that sell online have heard about nexus, the connection that a company has with a jurisdiction that ignites a sales tax obligation. Companies that acknowledge their sales tax nexus still often overlook its impact and the sales tax obligations it creates. How is technology being taxed? Taxability.

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TaxConnex

JUNE 27, 2024

There’s always something changing in the world of tax, especially sales tax. Two Penn State University students are using artificial intelligence to automate sales tax refunds for businesses, news reports said. The state assessed tax of more than $600,000 plus interest and $82,000 in penalties on the company, Ecocrete Inc.,

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TaxConnex

FEBRUARY 23, 2021

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. In Alaska, municipalities are steadily banding together to impose their own sales tax in a state that doesn’t have one.

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TaxConnex

MARCH 16, 2021

Patrick’s Day, don’t look to four-leaf clovers, pots of gold or leprechauns to bail you out of trouble with sales tax. If your company has a sales tax obligation s and doesn’t have a process yet in place, plan for the risks of non-compliance. sales tax audits ?are sales tax audits to increase over the next two years.?

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TaxConnex

OCTOBER 3, 2023

There’s always something changing in the world of tax, especially sales tax. billion in tax revenue on sales tax holidays that offer breaks on such goods as back-to-school or disaster-preparedness items. The other prevalent argument is that sales tax holidays are a way of giving tax relief. “The

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TaxConnex

AUGUST 22, 2024

There’s always something changing in the world of tax, especially sales tax. Two states have changed their sourcing rules for the application of sales tax obligations. Two states are reportedly considering using higher sales tax to fund cuts in property taxes. Two-thirds of the tax would help reduce property tax.

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MyIRSRelief

AUGUST 2, 2024

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). Get professional tax help by calling our tax firm at 1-877-788-2937. Recordkeeping Good recordkeeping is essential for tax compliance.

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TaxConnex

FEBRUARY 23, 2023

All hail sales tax! Taxing certain goods dates back as far as 4,000 years. Ancient Egypt taxed cooking oil, for instance. The tax was levied on a product people had to buy and were forbidden to reuse (coincidentally, the Pharaoh had a monopoly on production). Salestaxes are no exception.

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TaxConnex

OCTOBER 31, 2023

Just don’t let sales tax turn the situation into a nightmare. Consider: Your new product is not taxed but should have been. At an average sales tax rate of 8%, that’s more than $29,000 in uncollected sales tax in just one jurisdiction. Remember: You don’t want to collect too much sales tax on your new products, either.

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MyIRSRelief

MAY 24, 2023

The notice will state the amount of tax due, as well as interest and penalties. The notice will also include the following information: The amount of tax due The amount of interest and penalties The due date for payment Instructions on how to pay What do I need to do if I receive an IRS CP14 notice? What is an IRS CP14 notice?

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