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Services: Taxable or not?

TaxConnex

Figuring out sales tax obligations for goods (aka, tangible personal property, or TPP) is the less-hard part; you merely have to bear in mind that every state that taxes TPP does it a little differently. Services, on the other hand, are the hard calculation. States also tax services with nuance.

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Sales Tax and Business Services – Your Top Questions Answered

TaxConnex

If the service you perform includes data processing, information analysis, communications, or the interstate movement of data you may be performing a service that is taxable in a number of states. Contractors owe tax on all the items of material they purchase. Information services. Armored car services.

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What's new in state sales and use taxes

TaxConnex

has greenlighted studying the state’s taxation of remote and internet-based computer software products and services. Ohio revised its sales and use tax rule to add certain exempt construction contractor purchases.

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2023 Year-End Tax Planning Strategies for the Real Estate and Construction Industry

Cherry Bekaert

Contributor: Chelsea Payne , Senior Manager, Tax Services As the end of the year approaches, strategic planning remains crucial for taxpayers looking to optimize their financial positions and set the stage for a strong start in the upcoming fiscal year.

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Treasury’s On-Demand Pay Proposal Shows IRS’s Concern with Constructive Receipt, Says Tax Services Director

ThomsonReuters

A tax services director in Washington D.C. says that the Treasury Department’s proposal to clarify the tax treatment of on-demand pay arrangements makes it “clear” that the IRS is concerned with the constructive receipt issue of this trending employee benefit.

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Cherry Bekaert Tax Services Help Real Estate Company Optimize Investments, Save Tax Dollars

Cherry Bekaert

With the disruption of COVID-19, and the various obstacles the pandemic brought to the construction industry, the business decided to sell the property in 2022. The Company turned to Cherry Bekaert to understand the tax implications of the sale. In 2022, the entity decided to forgo the property development and sell it instead.

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What's new in May for state sales and use taxes

TaxConnex

The Colorado Department of Revenue also looks to review all sales and use tax exemption forms with an eye to simplifying the exemption application process; initial review will be completed by mid-2023. For gross receipts from the sale of newly taxed services prior to Jan. 25 this year.

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