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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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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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.

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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.

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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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CPA Practice

JUNE 9, 2024

Rosie Manins, The Atlanta Journal-Constitution (via TNS) The trade association for online marketplaces including Google, Amazon and eBay is trying to void a new Georgia law that extends requirements for collecting seller information, alleging it will hurt Georgia businesses. It’s unclear to us why Georgia decided to go down this path.”

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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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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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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.

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TaxConnex

MAY 27, 2021

Taking advantage of sales and use tax exemptions can save your business money and headaches. In general, exemptions are statutory exceptions eliminating the need for the retailer or business to collect sales tax on a particular transaction or on all transactions with a customer. Necessary paperwork for sales tax exemptions.

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TaxConnex

SEPTEMBER 30, 2021

Last week we talked about all of the different filing frequencies and deadlines you have to manage with your sales tax obligation. T rying to meet your sales tax obligations across many different states confronts you with a head-spinning assortment of deadlines and filing frequencies. If you missed that – check it out!

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TaxConnex

APRIL 19, 2022

Sales tax has a universe of changing conditions. What are the sales tax ramifications? has possibly the most complex sales tax regime. Each state sets its own sales tax rules, often with widely varying approaches. Each state sets its own sales tax rules, often with widely varying approaches. Enter taxes.

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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.

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TaxConnex

NOVEMBER 14, 2024

Sales tax comes with a lot of important terms. In such a transaction, a distributor must charge sales tax to the seller. Sounds simple – and in many ways it is, except that a drop shipment can often involve not two but three locations (usually states) where sales tax must be considered. One is “drop shipment.”

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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%

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Accounting Today

SEPTEMBER 13, 2023

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

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Georgia Tax 120

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.

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TaxConnex

APRIL 6, 2021

There’s always something changing in the world of tax, especially sales tax. The Alaska Remote Seller Sales Tax Commission has approved its “Remote Seller Sales Tax Code & Common Definitions” that would apply to local municipalities in Alaska that choose to adopt it. Georgia lawmakers have introduced H.B.

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CPA Practice

DECEMBER 3, 2024

27)—A tax preparer who admitted to filing more than $3 million in fraudulent tax returns on behalf of her clients is facing up to 30 years in prison for her crime. Crawford is not representative of most tax preparers who provide honest services to their clients. (TNS) ATHENS, GA (Nov.

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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.

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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.

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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

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BuildYourFirm

OCTOBER 28, 2020

What business owner would not be interested in a 4% corporate tax rate, zero capital gains, and zero dividends tax? Puerto Rico has been willing to supply a lucrative tax incentives because it needs money from business owners and investors here in the US.

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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.

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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.

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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’.

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TaxConnex

DECEMBER 22, 2020

The year’s ongoing pandemic affected almost every aspect of life – including, and in no small way, sales tax, which was already an area that has seen unprecedented change since the Supreme Court’s Wayfair decision in 2018. Even so, sales tax moved forward. Florida, for instance, reported that sales tax collections for July were $165.2

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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.

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West Virginia Rhode Island South Dakota North Dakota 126

ThomsonReuters

JUNE 15, 2022

In the middle of a busy legislative season, several states have made important changes in their tax code that practitioners across the nation will want to be aware of in order to service clients who may have multistate needs. Tax Relief Enacted in Delaware, Florida, Georgia, and New Mexico. Florida Sales Tax Holiday.

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Rhode Island Delaware Oklahoma Tax 105

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”.

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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.

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Sales Tax Rhode Island West Virginia 113

CPA Practice

FEBRUARY 28, 2023

Disaster-area taxpayers in most of California and parts of Alabama and Georgia now have until Oct. 16 to file various federal individual and business tax returns and make tax payments, the IRS said on Feb. 16 various tax filing and payment deadlines, including those for most calendar-year 2022 individual and business returns.

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CPA Practice

OCTOBER 2, 2023

October 16 is this year’s deadline for taxpayers who requested additional time to file their taxes. However, taxes expected to be owed were required to be owed by the original April 18, 2023, deadline. Those in the counties of Maui, Hawaii, and many counties in Florida, South Carolina and Georgia have until Feb. 16 due date.

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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?

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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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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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TaxConnex

AUGUST 23, 2022

We are excited to announce that we have been chosen by the Georgia Society of CPAs to speak at two events this fall and exhibit at this week’s Southeastern Accounting Show ! “We We are grateful GSCPA has asked us to help shed a light on the complexities of sales tax in our sessions.”. We hope to meet you in-person at the event!

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