TaxConnex

FEBRUARY 1, 2022

Three states – Arkansas , Connecticut and Indiana – have explored specifically taxing advertising on social media. Connecticut ’s levy of 10% tax on revenues for large platforms ($10B global) appears to have gone to a public hearing 10 months ago. New York ’s, a tax of 2.5-10%, 10%, is in a committee in that state’s Senate.

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TaxConnex

MARCH 3, 2022

In April 2021, the Connecticut General Assembly introduced?a to 10% of the annual gross revenues derived from digital advertising services in Connecticut, depending on the taxpayer’s global annual gross revenues. As in Indiana, employee services wouldn’t be subject to the tax.

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TaxConnex

MAY 6, 2021

In the trendiest sales tax news (aside, of course, from Florida finally passing economic nexus legislation), Connecticut lawmakers have proposed a digital advertising services tax similar, experts say, to one recently enacted in Maryland.

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TaxConnex

APRIL 9, 2024

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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Patriot Software

JULY 28, 2022

Here’s a shocking stat: More than 600,000 private-sector employees in Connecticut don’t have an employer-sponsored retirement savings plan. To encourage more employees in the state to save for retirement, Connecticut launched the MyCTSavings Retirement Program (MyCTSavings).

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CPA Practice

JANUARY 24, 2024

TNS) The IRS announced Monday that tax relief for individuals and businesses in flood-stricken parts of Connecticut would be made available. The IRS would also grant other areas in Connecticut relief, if they are later added to the federally recognizied disaster area. By Vincent Gabrielle, New Haven Register, Conn.

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TaxConnex

MAY 27, 2021

Alabama, California, Connecticut, Georgia and New York offer a half-dozen or more. Connecticut, Florida (which recently passed economic nexus that will be enacted this summer) and Louisiana accept certificates depending on where the product was packaged and shipped. Idaho and Pennsylvania, for instance, usually require one form.

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CPA Practice

DECEMBER 4, 2024

Top 50 accounting firm BerryDunn has merged with Connecticut-based accounting, tax, and advisory firm Burzenski & Co., The firm has offices in Arizona, Connecticut, Hawaii, Massachusetts, New Hampshire, Puerto Rico, and West Virginia. effective Dec. According to the deal, Burzenski & Co. and its territories.

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TaxConnex

NOVEMBER 2, 2021

Labels can also have “drug facts” that would likely trigger tax as a prescription or nonprescription drug (this could exempt the vitamins and supplements from state sales tax in some states like Alabama, Connecticut and Kansas and, in some cases, Oklahoma).

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PYMNTS

SEPTEMBER 23, 2020

Like all the towns on the Connecticut shoreline, Guilford is centered around a village green. On its north side stands a picture-postcard, white-steepled church. To the east is another church and spire, this one made of carved granite taken from the local quarries.

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TaxConnex

DECEMBER 10, 2020

This is the third time the state has pushed for faster tax remittance since 2015, reports added, and similar proposals have been seen in Connecticut, Nebraska, New York and Puerto Rico. The governor recently introduced a budget for the state’s next fiscal year that includes a plan to require businesses to remit sales tax faster.

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PYMNTS

JANUARY 14, 2021

Connecticut Attorney General William Tong is launching an antitrust probe into how Amazon runs its eBook business, the Wall Street Journal (WSJ) reported on Thursday (Jan. Connecticut’s inquiry is just the latest antitrust probe by several state and federal authorities into how Amazon conducts its business.

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TaxConnex

SEPTEMBER 7, 2021

Similarly, Connecticut has a reduced sales tax rate for SaaS when sold to businesses which is a different sales tax rate when sold to consumers. Variation in destination rules Even if you assume that sales tax applies at the destination for all interstate commerce, there are variations.

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TaxConnex

MARCH 1, 2022

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. Several states levy their sales tax or its equivalent on services, among them Hawaii (which has a general excise tax, or GET), and New Mexico.

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TaxConnex

JANUARY 16, 2024

This includes whether you’re selling to a business or a consumer (as in Iowa, Maryland and Ohio), unique state sales tax rates (Connecticut), home-rule jurisdictions (Colorado and Illinois), partial exemptions (Texas), to name a few. Many nuances affect sales tax and SaaS in various states.

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TaxConnex

JUNE 11, 2024

Sales tax registration is usually free or remarkably cheap ( Arizona seems to like the amount $12) though Connecticut charges $100. Some states do want security deposits (“bonds” in North Dakota ).

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TaxConnex

JANUARY 7, 2021

Connecticut recently hiked its sales-tax rate from 1% to 6.35% on most digital goods sold to consumers while maintaining the reduced rate of 1% when sold to businesses. Nebraska taxes sales of “content cards” or “digital release cards” that allow purchasers to download specific digital goods if the product is taxable in other circumstances.

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TaxConnex

MAY 10, 2022

Connecticut has ruled that online learning plans were not taxable digital goods. has become the second state this year to expand its sales tax exemption involving gold and silver. The exemption, covering all common forms of bullion, now runs until 2028.

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TaxConnex

DECEMBER 14, 2023

Connecticut makes it easy: They levy sales tax on dozens of services, almost any you could name, from cleaning windows, pools and clothes to lobbying, flight instruction and private investigation. In Minnesota , the service of delivery of aggregate materials is exempt if the materials are for road construction.

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TaxConnex

AUGUST 30, 2022

Hawaii and Connecticut are two other states that cast the tax net wide when it comes to software and apps. Maryland (a state famous for spearheading efforts to levy sales tax on digital advertising ) also recently broadened its sales and use tax definition to include apps. Subject to sales tax’.

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TaxConnex

JUNE 17, 2021

Connecticut: Medical marijuana is only subject to the statewide 6.35% sales tax and there is no additional excise tax. Additionally, local jurisdictions can levy an additional “business tax” or excise tax of up to 15%. Medical marijuana is sales tax exempt but the statewide excise tax and the local business tax/excise tax applies as well.

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Accounting Today

JANUARY 24, 2024

The IRS is pushing back payment and filing deadlines for those hit by January weather.

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TaxConnex

APRIL 5, 2022

Connecticut taxes SaaS, but at a reduced rate when sold to a business. SaaS is currently taxable for sales tax purposes in roughly half the states. In addition to the taxability rules state-by-state, there are additional nuances within some states. Texas exempts 20% of the SaaS charge.

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Accounting Today

MAY 24, 2024

Connecticut Society of CPAs installs board of directors; CohnReznick establishes merger integration and carve-out services practice; and more news from across the profession.

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TaxConnex

NOVEMBER 14, 2023

It might be easy in a state like Connecticut where you have a flat rate across the whole state and just report overall revenue and overall tax. Next you’ll need to set up a filing process, meaning you’ll need the right data out of your system and know how to interpret that data for a variety of states’ requirements.

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TaxConnex

MARCH 10, 2022

Though some states are repealing sales taxes on a few services, other states – notably Indiana, Nebraska, Connecticut and perhaps West Virginia – look to expand sales tax by taxing what has historically been an untaxed source of income. Services are increasingly tempting for states looking to levy more sales tax.

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South Dakota Sales Tax Maryland 262

PYMNTS

JUNE 24, 2020

With coronavirus infection rates soaring in the Sunbelt, the governors of New York, Connecticut and New Jersey are teaming up to slap a 14-day quarantine on travelers from states where the deadly virus is spiking. Phil Murphy and Connecticut Gov. New York Gov. Andrew Cuomo, New Jersey Gov.

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TaxConnex

FEBRUARY 22, 2022

For instance, Connecticut taxes SaaS, but at a reduced 1% rate when sold to a business. In other words, one state may tax software delivered physically and also tax SaaS but not tax software downloaded electronically. Another state may tax SaaS but not downloaded or physically delivered software. Then there are nuances within some states.

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TaxConnex

MARCH 9, 2023

Elsewhere, proposed legislation in the Connecticut House ( HB 5673 ) and Senate ( SB 351 ) would establish a 10% tax on the annual gross revenues of certain businesses. Similar proposals were introduced in Connecticut during the 2021 legislative session. The bills are in committee.

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Sales Indiana Tax Massachusetts 147

Accounting Today

JANUARY 16, 2024

The New York-based Top 20 Firm has acquired a firm headquartered in Farmington, Connecticut.

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Withum

MAY 12, 2022

Megan is an active member of her community, having served as President of the Connecticut Chapter of Healthcare Financial Management Association and currently volunteers for Junior Achievement at her local elementary school. Based in Connecticut, Megan is also a member of the Connecticut Society of CPAs (CTCPA).

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Accounting Today

JANUARY 16, 2024

The Connecticut-based financial advisory firm has added a CPA firm and a registered investment advisory firm.

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Cherry Bekaert

JANUARY 29, 2024

Contact Us The post Cost and Revenue Analytics Case Study: Connecticut State Colleges and Universities (CSCU) appeared first on Cherry Bekaert. Download Case Study Questions?

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TaxConnex

NOVEMBER 12, 2020

A few examples are referenced below: Connecticut taxes SaaS as does Texas. However, Connecticut applies a reduced 1% tax rate on SaaS provided it is sold to a business; otherwise the standard sales tax rate applies. Although SaaS is currently taxable for sales tax purposes in roughly half the states.).

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TaxConnex

SEPTEMBER 5, 2024

Connecticut: Shipping is sales taxable if the item is. Colorado: Delivery and freight charges are generally not subject to sales tax if the charges are both separable from the purchase and separately stated on the customer invoice, among other conditions. District of Columbia: Generally taxable, depending on circumstances.

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CPA Practice

FEBRUARY 11, 2023

This means that people in the following states do not need to report these state payments on their 2022 tax return: California, Colorado, Connecticut, Delaware, Florida, Hawaii, Idaho, Illinois, Indiana, Maine, New Jersey, New Mexico, New York, Oregon, Pennsylvania and Rhode Island.

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TaxConnex

MAY 23, 2023

Connecticut, South Carolina, Ohio and Virginia exempt some protective clothing. Playing dress-up Clothing is taxable in most states and the District of Columbia. But rules differ like a bewildering array of wardrobe choices. California, Idaho, South Carolina, Tennessee and Virginia exempt clothing sales for some nonprofits.

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