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Vitamins, supplements and sales tax – the latest

TaxConnex

The products incur sales tax in most states (Massachusetts casts an especially wide net) but are more or less exempt in Connecticut, Florida, Maryland, Michigan, New Jersey, New York, Texas, West Virginia and Wyoming.

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Video Conferencing: Has the Pandemic Created a New Taxation?

TaxConnex

announced last year that it would start collecting local utility and communications taxes in California, New York, Maryland, and Virginia. Zoom Video Communications Inc. The specific taxes and their rates vary depending on the state and locality in which the user is located.

Maryland 246
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Sales Tax and Vitamins/Dietary Supplements

TaxConnex

The products are tax-exempt (more or less) in the District of Columbia, Florida, Maryland, Michigan, New Jersey, New York, Texas, Vermont, West Virginia and Wyoming. Special, more detailed conditions for sales tax on these products apply in California, Illinois, Massachusetts and Utah.

Sales 246
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What Happens if You Mess Up a Sales Tax Filing

TaxConnex

California “[reviews] each situation to determine if there was reasonable cause or an unforeseen circumstance that resulted in you failing to pay your taxes.” Maryland socks you with a late-filing penalty of 10% and interest at a rate of not less than 1% per month. Those “legal processes” that Maryland mentioned can be punishing.

Sales 246
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Sales tax and accounting services

TaxConnex

In recent years, Connecticut, Maryland, and California toyed with levying state sales tax on accounting services but found it a tough fight in the face of intense lobbying from accountants’ groups. Accounting services are often, but not always, exempt.

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Professionals on the Move – Nov. 2024

CPA Practice

CohnReznick’s McCafferty selected to MACPA’s 2024 Women to Watch CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, announced that Molly McCafferty, Partner, Assurance, has been selected as one of four 2024 Women to Watch by the Maryland Association of CPA’s (MACPA) Foundation.

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Economic nexus overview - all states with sales tax now active

TaxConnex

Many states quickly followed with the same thresholds, but others have adjusted theirs to widely different revenue or transaction counts – some with no sales totals but with transaction limits, others with relatively small sales-total thresholds and still other states, such as New York and California , with large required sales totals.