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.

South Carolina 198

South Carolina Sales Tax Alabama 198

TaxConnex

MAY 14, 2024

jurisdictions also involves dealing with sales tax. Responsibility to pay sales tax is based on a variety of factors, such as where the seller and buyer reside and the nature of the product being sold (some items qualify for sales tax exemptions ). On a marketplace platform, who has responsibility for the sales tax?

Sales 232

Sales South Carolina Rhode Island Tax 232

CPA Practice

NOVEMBER 12, 2024

Many American retirees wonder how their benefits will be affected following Donald Trump’s pledge to eliminate taxes on Social Security income during his presidential campaign. A new report by GoBankingRates.com reveals that Texas is one of 41 states that will not tax Social Security benefits next year.

South Dakota 98

South Dakota North Dakota South Carolina North Carolina 98

TaxConnex

MAY 26, 2022

However, certain exemptions could apply making the sale of TPP exempt from sales tax in some situations. The buyer wants to make the original purchase exempt from sales tax, and they expect to then charge sales tax when they sell the item. Sales tax obligations start with nexus. Assessing your footprint.

South Dakota 170

South Dakota South Carolina Sales Illinois 170

TaxConnex

AUGUST 17, 2021

Sales tax is full of complexities, but there are certain topics that seem to cause more of a headache than others. Who’s responsible for the tax? Who is ultimately responsible for the sales tax in this three-party transaction? If the distributor has nexus in Illinois, then they are required to charge Illinois sales tax.

South Carolina 241

South Carolina Utah Sales Illinois 241

TaxConnex

NOVEMBER 2, 2021

You won’t find too many more confusing sales tax scenarios than the one involving dietary supplements. For purposes of sales tax, sometimes supplements and vitamins are considered drugs (prescription or not), sometimes groceries or food, sometimes tangible personal property – and sometimes not. Sales tax isn’t getting any easier.

Sales 202

Sales West Virginia Tax Vermont 202

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

Sales 147

Sales Louisiana Tax Tennessee 147

TaxConnex

NOVEMBER 1, 2022

Each brings different sales tax implications – and retail and ecommerce businesses aren’t always aware of their obligations. The exemption question Sales tax obligations start with nexus, the concept that enables state and local governments to require businesses to collect and remit sales tax on the products and services they sell.

Sales 130

Sales South Dakota South Carolina Illinois 130

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.

South Carolina 130

South Carolina South Dakota Sales Montana 130

TaxConnex

JANUARY 26, 2023

There’s always something changing in the world of tax, especially sales tax. Gary Bingel, partner-in-charge for state and local taxes in accounting firm EisnerAmper’s State and Local Tax National Tax Group, made several predictions for 2023 in sales and other taxes. Crystal ball time. Oneida, N.Y.,

Sales 130

Sales Tax Arkansas Missouri 130

CPA Practice

SEPTEMBER 9, 2024

The deadline for taxpayers to submit their third quarter estimated tax payment is one week from today. However, individuals and businesses affected by disasters in 17 states, Puerto Rico, and the Virgin Islands may automatically qualify for a delayed tax-payment deadline, the IRS said last week.

West Virginia 95

West Virginia South Dakota South Carolina Tax 95

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”.

Rhode Island 130

Rhode Island West Virginia Sales Alaska 130

TaxConnex

MARCH 22, 2022

Collecting and remitting sales tax to states and other tax jurisdictions is time consuming and can be expensive. Somebody can: the states and tax jurisdictions themselves. collection discount to help with the costs of managing sales tax.?If Slightly more than half the states offer various discounts for sales tax filers.

Sales 199

Sales Utah South Carolina Tax 199

TaxConnex

FEBRUARY 1, 2022

One of the next big trends in sales tax is one you should start thinking about: states taxing digital advertising. Right now, a little more than two-thirds of states with a sales tax impose a tax on the sale of such digital goods as videos and music. Who’s doing what among states with this new breed of tax?

Maryland 173

Maryland West Virginia Tax Connecticut 173

TaxConnex

AUGUST 15, 2023

There’s always something changing in the world of tax, especially sales tax. Midyear sales tax. The Tax Foundation released its “State and Local Sales Tax Rates, Midyear 2023” report of the 45 states (and the District of Columbia) that collect statewide sales taxes and the 38 states where local sales taxes are collected.

Sales 130

Sales Tax Alabama Texas 130

CPA Practice

NOVEMBER 4, 2024

Document Management software is a valuable solution for the organization as you prepare for tax season. Download the guide to ensure you are ready for next tax season. It finds the documents you need in seconds, and creates a bespoke, secure database for your firm.

Rhode Island 59

Rhode Island West Virginia South Dakota North Dakota 59

CPA Practice

APRIL 5, 2024

Earlier this week WalletHub released a study that shows which states’ residents have the highest and lowest tax burden , measured as the proportion of total personal income that residents pay toward state and local taxes. The study looks at how much tax the average person is estimated to pay in each state throughout their lifetime.

West Virginia 126

West Virginia Rhode Island South Dakota North Dakota 126

TaxConnex

JUNE 8, 2021

There’s always something changing in the world of tax, especially sales tax. They were the last two states with a sales tax to set up such requirements.). The bill requires the collection and remittance of sales and compensating use tax by most marketplace facilitators beginning July 1. And 2021 continues to prove that.

Sales 144

Sales Tax Arkansas South Carolina 144

TaxConnex

SEPTEMBER 26, 2024

The exception certificate figures big in your sales tax toolbox. A sales tax exemption certificate means you, the seller, don’t have to collect and remit sales tax on certain products and services and to certain clients (such as schools, hospitals or churches) in a state. Get in touch to learn more.

Rhode Island 130

Rhode Island West Virginia South Dakota North Dakota 130

TaxConnex

JULY 13, 2023

As we saw last time, sales tax holidays are continuing to enjoy a heyday this year. Arkansas, Aug. 13-19: Qualifying clothing and footwear priced $100 or less will be exempt from sales tax. Connecticut: Tax-free week begins on the third Sunday of August and runs until the following Saturday. Iowa , Aug. Texas, Aug.

Sales 130

Sales West Virginia South Carolina Tax 130

TaxConnex

AUGUST 2, 2022

In many states, sales tax holidays have been in full swing this year and will continue for months to come. These holidays are limited times (frequently weekends) where a state allows sales tax to be eliminated or reduced on categories of consumer products. 5-14); Arkansas (Aug. Holiday time already? 5-8); Illinois (Aug.

Sales 130

Sales West Virginia South Carolina Tax 130

TaxConnex

OCTOBER 25, 2022

There’s always something changing in the world of tax, especially sales tax. The Urban Institute told news outlets that 25 states recently reported year-over-year declines in sales tax receipts, a jump of more than a third in just a month. Nationwide, sales tax receipts were up 1.5% Inflation bites. in real terms.

South Dakota 130

South Dakota Sales Tax South Carolina 130

CPA Practice

MAY 3, 2024

Sales tax holidays are all the rage right now. There were about 45 sales tax holidays in 24 states in 2023 and could be even more than that in 2024. If you’re in retail, hang on to your hats and read our sales tax holiday FAQ to learn: What is a sales tax holiday? Do all states have a tax holiday? By Gail Cole.

Sales 119

Sales Tax Nevada West Virginia 119

CTP

MAY 8, 2024

The Tax Cuts and Jobs Acts (TCJA) of 2018 stirred up mixed responses by introducing a $10,000 cap on state and local tax (SALT) deductions for individual taxpayers. As of today, 19 states have enacted pass-through entity taxes. Prior to TCJA, many states did not have a PTE tax or the tax rate was much lower.

Rhode Island 93

Rhode Island Tax South Carolina Connecticut 93

CPA Practice

AUGUST 3, 2023

This list includes every back-to-school sales tax holiday this summer, from July 27, 2023, through the end of August. Rules for tax-free shopping can vary from state to state. So, just because something is tax-exempt in one state doesn’t mean it will be in another. Does Summer Camp Qualify for a Childcare Tax Credit?

Sales 96

Sales South Carolina West Virginia Tax 96

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.,

Sales 165

Sales E-commerce Tax Florida 165

CPA Practice

APRIL 3, 2024

A new study by WalletHub revealed that residents of New York state are burdened by taxes the most among the 50 states, while Alaska residents have the lowest tax burden. The following are some key findings from WalletHub’s study: As previously stated, New York has the highest overall tax burden, while Alaska has the lowest.

Rhode Island 111

Rhode Island Alaska New Hampshire Tax 111

CPA Practice

APRIL 9, 2024

A new study by WalletHub revealed that residents of New York state are burdened by taxes the most among the 50 states, while Alaska residents have the lowest tax burden. The following are some key findings from WalletHub’s study: As previously stated, New York has the highest overall tax burden, while Alaska has the lowest.

Rhode Island 105

Rhode Island Alaska New Hampshire Tax 105

TaxConnex

FEBRUARY 8, 2022

There’s always something changing in the world of tax, especially sales tax. State sales tax revenues and their local portions are reported up from Auburn, N.Y., Many other states are finding more late-2021 sales tax revenue to funnel toward local governments. billion in sales taxes for December, $101.9

Sales 177

Sales Tennessee Tax Massachusetts 177

ThomsonReuters

APRIL 25, 2024

Navigating state taxes on retirement income is a critical aspect of financial planning for retirees. While federal tax rules apply uniformly across the country, state tax rules can vary widely. Jump to: • State tax on retirement income • Which states do not tax retirement income?

South Dakota 52

South Dakota Rhode Island New Hampshire Wyoming 52

CPA Practice

AUGUST 25, 2024

Yet some states still haven’t clearly defined how sales and use tax applies to digital goods and services. To help you better understand digital products sales tax, this blog will explain: How do you define digital products for sales tax? How do you figure out sales tax on digital products by state?

West Virginia 130

West Virginia Rhode Island South Carolina Tax 130

TaxConnex

JUNE 30, 2022

Determining your sales tax obligations hinges on if your products or services are taxable and whether you have sales tax nexus which can be defined as either a physical presence or economic presence. nexus requires remote sellers to collect sales tax because they hit set thresholds for state and jurisdiction revenue. Groundwork.

Sales 205

Sales Oklahoma Arkansas Alabama 205

TaxConnex

JUNE 14, 2022

Determining your sales tax obligations hinges on if your products or services are taxable and whether you have sales tax nexus which can be defined as either a physical presence or economic presence. nexus requires remote sellers to collect sales tax because they hit set thresholds for state and jurisdiction revenue. Groundwork.

Sales 205

Sales Oklahoma Arkansas Alabama 205

CPA Practice

JANUARY 3, 2024

Sales tax holidays are all the rage right now. There were about 45 sales tax holidays in 24 states in 2023 and could be even more than that in 2024. If you’re in retail, hang on to your hats and read our sales tax holiday FAQ to learn: What is a sales tax holiday? Do all states have a tax holiday?

Sales 78

Sales Nevada Tax West Virginia 78

CPA Practice

JULY 18, 2023

If you’re part of that rising tide, you need to know how to tax shipping and delivery charges. Charges for a company to deliver goods in its own vehicle are often taxed differently than charges for delivery by common carrier or private carrier. or “Is there sales tax on U.S. What follows are general guidelines, not tax advice.

Sales 98

Sales Retail Tax West Virginia 98

CPA Practice

APRIL 12, 2023

million people across the nation (state-by-state list below) have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return. billion in refunds remain unclaimed because people haven’t filed their 2019 tax returns yet. The Internal Revenue Service says that nearly 1.5 The IRS estimates almost $1.5

Rhode Island 122

Rhode Island tax return Tax West Virginia 122

Going Concern

DECEMBER 12, 2022

Today we learn that Arkansas is not being hit with the accountant shortage as bad as other states : In Arkansas, the decline is not as severe. Whether there are any problems on the performers’ tax return filings—or indeed whether there are any commonalities—remains to be seen.” Lastly, “finance or accounting?”

Arkansas 52

Arkansas Finance accounted Account 52