TaxConnex

DECEMBER 12, 2023

But not for sales tax liability, where most states still maintain strong responsible party laws. And they can come as a real shock: CEOs, CFOs, directors and other execs can be held personally responsible for sales tax shortfalls. That’s true for many of the fiscal messes that can befall a company. How do they know who’s responsible?

Sales 227

Sales Tax Ohio Georgia 227

CPA Practice

SEPTEMBER 13, 2023

The Internal Revenue Service today announced tax relief for individuals and businesses affected by Idalia in 28 of the state’s 159 counties in Georgia. 15, 2024, to file various federal individual and business tax returns and make tax payments. Quarterly estimated income tax payments normally due on Sept.

Georgia 105

Georgia South Carolina income tax tax return 105

TaxConnex

NOVEMBER 12, 2024

Fear frequently motivates all tax compliance. And with sales tax, as with most other kinds of tax, that fear is of an audit. This unwanted (and sometimes seemingly random) scrutiny from tax jurisdictions can terrify small companies. How to get ready Assume you’re going to get hit with a sales tax audit sooner or later.

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audit Sales Tax auditor 147

TaxConnex

SEPTEMBER 5, 2024

Ecommerce couldn’t exist without shipping (and probably not without shipping’s partner “handling,” either), but do either incur sales tax? As is often the case in sales tax, it depends on what, how and where. Portions of packages that contain non-taxable or exempt items get a break on the tax on the S&H.

Sales 242

Sales Tax Rhode Island Kansas 242

Withum

AUGUST 14, 2024

On August 9, 2024, the IRS announced relief from certain tax filing and payment deadlines for individuals and businesses in all of South Carolina, most of Florida and North Carolina, and part of Georgia that were affected by Hurricane Debby.

South Carolina 126

South Carolina North Carolina Georgia Tax 126

TaxConnex

FEBRUARY 8, 2024

Sales tax compliance depends on many factors. One of the most important – and the most incessantly changing – is the tax rates that America’s thousands of jurisdictions impose. Exemptions can also seem whimsical: New York charges different sales tax on a bagel that’s sold as-is or has been toasted and smeared with cream cheese.

Sales 223

Sales South Dakota Tax Kentucky 223

TaxConnex

DECEMBER 7, 2023

There’s always something changing in the world of tax, especially sales tax. Johns County, Florida, received a $750 credit from Amazon after discovering that the marketplace facilitator had been overcharging her for sales tax for more than a decade, news reports said. New York state sales tax collections jumped 2.5%

Sales 147

Sales Tax West Virginia South Dakota 147

TaxConnex

OCTOBER 8, 2024

But not all search engines – or state tax websites – are created equal. What it’s like typing “sales tax” into that little rectangle with the magnifying glass on each state’s website? Here are first impressions from one-and-done searches for “sales tax” on the revenue site of each state. Connecticut Dept.

Sales 147

Sales Tax Rhode Island West Virginia 147

CPA Practice

OCTOBER 1, 2024

The IRS on Tuesday announced disaster tax relief for all individuals and businesses affected by Hurricane Helene, including the entire states of Alabama, Georgia, North Carolina, and South Carolina, as well as parts of Florida, Tennessee, and Virginia. 24 in Georgia; Sept. 24 in Georgia; Sept. 22, 2024, in Alabama; Sept.

South Carolina 130

South Carolina North Carolina Tax Alabama 130

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.

South Carolina 239

South Carolina Sales Tax West Virginia 239

CPA Practice

JANUARY 31, 2023

More than 100 members of The Georgia Society of Certified Public Accountants (GSCPA) recently met at the state Capitol to share their thoughts on important issues facing the accounting profession with their elected officials. Chairman David Knight and each member of the Georgia CPA Caucus: Chairman John Carson, Rep.

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Georgia cpas CPA accounting and finance 69

CPA Practice

FEBRUARY 3, 2023

(TNS) A Columbus, GA-based tax preparer has pleaded guilty in federal court to charges that she submitted false claims for tax credits for her clients and also failed to pay her own personal taxes. Nadine Word pleaded guilty to preparing and submitting false tax returns and failing to file her personal tax returns,” James E.

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tax preparation Georgia Tax tax return 52

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

Cherry Bekaert

MAY 7, 2024

In the most recent episode of Cherry Bekaert’s Tax Services podcast, we focus on the Virginia pass-through entity tax (PTET) election. Join Cathie Shaw , partner at Cherry Bekaert, and Tony Konkol , State and Local Tax Manager, as they navigate the intricacies of this important topic.

Virginia 115

Virginia North Carolina Tax Georgia 115

Accounting Today

SEPTEMBER 13, 2023

The IRS is pushing back filing and payment deadlines for those impacted by the storm.

Georgia 120

Georgia Tax 120

CPA Practice

OCTOBER 8, 2024

In response to Hurricane Helene’s recent devastation and Hurricane Milton’s impending landfall, Wolters Kluwer Tax & Accounting is highlighting tax relief opportunities available to those affected by natural disasters in 2024. They can choose to claim these losses in the year they were incurred (i.e.,

South Carolina 116

South Carolina North Carolina Tax tax return 116

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 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.

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Sales West Virginia Tax Vermont 230

TaxConnex

JULY 12, 2022

There’s always something changing in the world of tax, especially sales tax. The fee will apply when at least one item is subject to sales or use tax and the delivery is mailed, shipped or delivered by motor vehicle. its Sales Tax Bulletin No. Here’s a review of some of the recent changes and updates. Indiana modified?its

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Sales Tax Oklahoma Illinois 212

ThomsonReuters

JULY 10, 2023

Jump to: What is sales tax? What is use tax? Sales tax vs. use tax Summary Calculating, collecting, and reporting sales tax and use tax can get complicated as a business grows, and it can be easy to confuse these two types of indirect taxes. What is sales tax?

Sales 97

Sales Tax Arizona Georgia 97

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.

West Virginia 130

West Virginia Sales Rhode Island Tax 130

TaxConnex

JANUARY 5, 2021

As if sales tax nexus and taxability rules weren’t confusing enough, throw in marketplace facilitators and drop shipments and it’s easy for a business of any size to want to give up on sales tax compliance. The retailer is caught in the middle and could be responsible for paying the sales tax to the manufacturer/distributor.

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Sales Tax Manufacturing California 246

Cherry Bekaert

AUGUST 1, 2024

Research and Development (R&D) Tax Credits are an incentive for businesses investing in innovation. While the federal R&D tax credit is well-known, more than 35 states in the U.S. also offer R&D Tax Credits to businesses. The annual aggregate amount of R&D Tax Credit available is now $15.77

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Maryland Virginia Georgia Tax 69

TaxConnex

AUGUST 24, 2021

In the world of sales tax, they’re major marketplace facilitators. Marketplace facilitators are required to charge sales tax where they have nexus (the connection between a tax authority and a company). It wasn’t long before states recognized that there was still a large portion of internet-based sales that weren’t being taxed.

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Sales South Dakota Tax South Carolina 240

Cherry Bekaert

OCTOBER 28, 2024

Understanding the available tax relief options is crucial. IRS Disaster Relief The Internal Revenue Service (IRS) offers comprehensive tax relief to those affected by Hurricane Helene and Hurricane Milton across several states. Georgia : The Department of Revenue has extended relief measures. Information is available here.

South Carolina 52

South Carolina North Carolina Tax Alabama 52

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.

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Sales Tax Alabama Texas 130

TaxConnex

JANUARY 19, 2023

We hear a lot about “sales tax obligations,” but who exactly in your company is “obligated?” Since the Supreme Court’s 2018 Wayfair decision, many businesses are required to collect and remit sales tax in multiple states – more so than pre-Wayfair. Personal liability can often apply whether the imposed tax was collected or not.

Wisconsin 225

Wisconsin Georgia Texas tax return 225

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

FEBRUARY 22, 2022

If your business sells software or software-as-a-service (SaaS), you deal with one of the most complex sales tax situations, potentially without even realizing it. Your sales tax obligation and liability begin with where you have nexus , a connection between your company and a taxing authority or jurisdiction.

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Sales Tax North Carolina Mississippi 217

TaxConnex

OCTOBER 27, 2022

States are like that, too: sometimes candy is considered food (groceries) for sales tax purposes, sometimes it’s not and sometimes it’s somewhere in between. In many states, for instance, liquor-filled candy – which admittedly few are going to give to kids on Halloween – can be taxed differently than regular candy. Not merely because’.

Sales 130

Sales West Virginia South Dakota South Carolina 130

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

FEBRUARY 25, 2021

You may think that if you do not have physical or economic tax nexus in a state, you do not have any tax obligations. You can still have obligations to the certain tax authorit ies in a state even where you do not have nexus and are not required to collect and remit sales tax in the state. The reason?

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Rhode Island Tax Colorado Georgia 173

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

TaxConnex

OCTOBER 7, 2021

There’s always something changing in the world of tax, especially sales tax. There are currently five states with no state-level sales tax. Alaska has long heard rumblings of a statewide sales tax. First came the state’s Remote Seller Sales Tax Commission of municipalities banding together to tax sales.

West Virginia 213

West Virginia Sales Alaska Tax 213

Cherry Bekaert

AUGUST 21, 2024

This growth led to a significant increase in revenue and a nine-figure taxable income, as well as a need for enhanced tax services. The Georgia-based Company partnered with Cherry Bekaert for annual financial statement audit and tax compliance services.

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B2C Tax Georgia tax services 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