TaxConnex

JANUARY 2, 2024

Is one of your new year’s resolutions to make sure you’re complying with sales tax in 2024? If you’ve determined nexus to exist for your business and understand that your products or services are taxable, but you’ve yet to comply to sales & use tax rules.

Sales 264

Sales Tax financial statements audit 264

TaxConnex

JULY 29, 2021

Sales tax is complex for any business selling into multiple states. Chicago is a home rule city and taxes several items that are not taxable at the state level. To further complicate this, Chicago does not apply sales tax to SaaS rather they apply a personal property lease transaction tax which is currently 9%.

Sales 246

Sales Tax Illinois audit 246

TaxConnex

JULY 20, 2021

There’s no way to sugarcoat it: Sales tax obligations are already difficult at the state level, but when you bring it down to local jurisdictions, or home rule jurisdictions, you get the next level of complexity. Home rule jurisdictions are granted the authority by certain states’ constitutions to pass laws to self-govern.

Sales 245

Sales Alaska Louisiana Tax 245

TaxConnex

APRIL 1, 2021

Every state can apply tax exclusions on goods and services within their state. However, there are further tax-exempt purchases. Tax exemptions can also be applied at the customer level as opposed to the product level. Some entities that are not resellers of goods may also be exempt from sales tax. Use-based exemptions.

Sales 246

Sales Tax Manufacturing Education 246

TaxConnex

OCTOBER 27, 2020

We can’t say it enough – sales tax is complex. We’ve compiled some of the top questions we get from clients on sales & use tax. Part 1 of these questions was on sales tax and business services. What is the difference between sales and use tax? Most states have both a "sales" and a "use" tax.

Sales 246

Sales Tax Retail auditor 246

TaxConnex

JUNE 28, 2022

Complying with your sales tax obligations involves a lot of variables – your nexus, taxability of your products, type of customer you are selling to, etc. Another key factor that effects your sales tax obligations is related to exempt transactions and exemption certificates. This is where the XYZ letter comes into play.

Sales 262

Sales Tax audit been audited 262

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.

Sales 246

Sales Tax Colorado New Jersey 246

TaxConnex

SEPTEMBER 22, 2020

Taxes are an integral part of the telecom world. Taxes, fees and government surcharges on telecommunications services increased from 19.1% In talking with countless telecommunications service providers about their various tax and regulatory requirements, there are some recurring themes I hear that can be troubling.

Tax 246

Tax California auditor Sales 246

TaxConnex

SEPTEMBER 26, 2023

Usually all retail sales of tangible personal property (TPP) are taxable, but many states have started to tax services. Who the customer is and what they’ll use the TPP for can create a sales tax exclusion, too, such as when selling to a church or government agency. Managing the process Calculating sales tax.

Sales 264

Sales Tax South Dakota Colorado 264

TaxConnex

DECEMBER 27, 2022

Sales and use tax nexus is defined as a connection between a person or entity and a taxing jurisdiction. Sales tax nexus is the basis for all your sales tax decisions because without sales tax nexus you have no further obligation to a state. That is unless an exemption applies.

Sales 246

Sales Tax Non-Profits Maine 246

CPA Practice

JULY 25, 2024

The years following the pandemic have seen increases in local and other small jurisdictional sales taxes, as well as new taxes and fees, as municipal governments across the country respond to economic pressures, and tightening state budgets have raised the need for revenue at the local level.

Government 118

Government Sales Tax Education 118

TaxConnex

JUNE 7, 2022

Marketplace facilitators are required to charge sales tax where they have nexus (the connection between a tax authority and a company). Sales tax obligations start with nexus, the concept that enables state and local governments to require businesses to collect and remit sales tax on the products and services they sell.

South Dakota 246

South Dakota Sales Tax Start-ups 246

TaxConnex

MAY 26, 2022

However, certain exemptions could apply making the sale of TPP exempt from sales tax in some situations. An exemption could be related to the type of business that is buying the TPP – a non-profit or government entity in certain states for example. Sales tax obligations start with nexus. Assessing your footprint.

South Dakota 244

South Dakota South Carolina Sales Illinois 244

TaxConnex

AUGUST 30, 2022

Many tech companies consider themselves a service provider exempt from sales and use tax. But the 2018 Wayfair decision expanded the definition of nexus and and more of these businesses are now subject to sales and use tax collection, including on one of their product staples: apps. What about the sales tax?

Sales 246

Sales Tax Wisconsin Massachusetts 246

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 246

West Virginia Sales Alaska Tax 246

TaxConnex

SEPTEMBER 29, 2020

In Alabama , rising pandemic-related online shopping has been a “life saver” for the state’s municipal governments and a “financial vaccine for Alabama’s counties,” the state said. The state’s SSUT has taken in more than $309 million overall during the current fiscal year – almost double the tax generated during all of fiscal 2018-19.

Sales 246

Sales Tax Alabama Texas 246

TaxConnex

OCTOBER 14, 2021

The majority of businesses still manage their sales tax obligations with internal staff, but do they have what it takes to manage sales tax effectively? Most businesses, especially smaller ones, don’t have or can’t afford a full sales tax department in these days of tight resources. Keeping track of all the deadlines.

Sales 246

Sales E-commerce Tax Start-ups 246

TaxConnex

OCTOBER 12, 2021

NOMAD and sales tax – I’m sure you’ve heard it before. When it relates to sales tax, the NOMAD states refer to the five American states without a statewide sales tax: New Hampshire, Oregon, Montana, Alaska, and Delaware. The NOMADs bear watching for changes in how they handle sales tax. But what does it mean?

Sales 245

Sales Montana Alaska Delaware 245

TaxConnex

AUGUST 27, 2024

Have Home Rule Jurisdictions Made the Burden of Managing Sales and Use Tax Too Much? As if managing sales and use tax obligations on a multi-state level wasn’t hard enough, some states make it even tougher with “home rule,” where jurisdictions are granted the authority to pass their own, additional tax laws.

Colorado 264

Colorado Sales Tax Alaska 264

RogerRossmeisl

JULY 13, 2021

Eligible parents will soon begin receiving payments from the federal government. The IRS announced that the 2021 advance child tax credit (CTC) payments, which were created in the American Rescue Plan Act (ARPA), will begin being made on July 15, 2021. How have child tax credits changed? The increased credit amount.

Tax 230

Tax CPA Government 230

TaxConnex

OCTOBER 6, 2022

It’s a common scenario: A company has decided to sell, then due diligence turns up a $2 million risk in past sales tax obligations and compliance. Do you have solid positions and reasons for your sales tax decisions? Can you defend your sale tax position to minimize the escrow’s impact? Let’s say you’re the seller.

Sales 246

Sales Tax tax return Start-ups 246

TaxConnex

JANUARY 28, 2021

There’s always something changing or new going on in the world of tax, especially sales tax. Nationwide , the Streamlined Sales Tax Governing Board has made amendments to the Streamlined Sales and Use Tax (SST) Agreement to revise its amnesty-related provisions. The waiver will be effective until Feb 22.

Sales 233

Sales Alaska Tax Illinois 233

TaxConnex

MAY 24, 2022

One relatively new development is the complex overlay of sales tax on these transactions. Add internet sales to the mix and you’ve got sales tax obligations sprouting up these days more than ever. About half managed sales tax compliance completely internally and about a third managed it with technology and some internal personnel.).

South Dakota 246

South Dakota Sales Retail Tax 246

TaxConnex

OCTOBER 3, 2024

Navigating sales tax compliance in complex organizations can be a challenge, influenced by various factors. Industries like telecommunications, hospitality, healthcare, manufacturing, and technology face unique complexities when it comes to sales and use tax compliance. Now that is not always the case.

Sales 214

Sales Tax Hospitality Healthcare 214

TaxConnex

FEBRUARY 8, 2022

There’s always something changing in the world of tax, especially sales tax. State sales tax revenues and their local portions are reported up from Auburn, N.Y., defying predictions of the pandemic’s effect on government coffers – and delighting officials. billion in sales taxes for December, $101.9

Sales 245

Sales Tennessee Tax Massachusetts 245

RogerRossmeisl

SEPTEMBER 19, 2022

When you filed your federal tax return this year, were you surprised to find you owed money? Receiving a tax refund essentially means you’re giving the government an interest-free loan. Adjust if necessary Taxpayers should periodically review their tax situations and adjust withholding, if appropriate.

income tax 211

income tax Tax tax return CPA 211

RogerRossmeisl

AUGUST 5, 2021

Despite the COVID-19 pandemic, government officials are seeing a large increase in the number of new businesses being launched. You should be aware that the way you handle some of your initial expenses can make a large difference in your federal tax bill. From June 2020 through June 2021, the U.S.

Start-ups 242

Start-ups tax return Tax CPA 242

TaxConnex

AUGUST 26, 2021

One group especially excited about e-commerce growth - state and local governments. Many states survived the pandemic by the skin of their teeth due in part to the sales tax provided from e-commerce sales and the sales tax filed from companies that have reached nexus thresholds in their state. Ecommerce and Economic Nexus.

E-commerce 246

E-commerce Sales Tax Missouri 246

TaxConnex

OCTOBER 15, 2020

As if understanding your nexus obligations wasn’t confusing enough, you throw in words and phrases like marketplace facilitator, TPP, tax situs and economic vs. physical nexus and even the most advanced finance professionals can be thrown for a loop. Let’s take a look at some of the terms associated with sales tax and their definitions.

Sales 242

Sales Tax South Dakota Legal 242

TaxConnex

AUGUST 31, 2023

Online selling of products and services triggers sales tax obligations today like never before – and has ever since the Supreme Court’s 2018 Wayfair decision unleashed economic nexus on e-commerce merchants nationwide. Some businesses can manage the calculation of sales tax without separate sales tax software systems.

Sales 264

Sales E-commerce Tax Alaska 264

TaxConnex

JANUARY 27, 2022

The explosion of the e-commerce market alone would’ve made handling sales tax obligations in-house tough. Previous government pandemic relief efforts have fortified individual savings and allowed people to remain out of work longer, even as wages remain largely stagnant and potentially unappealing to would-be laborers.

Sales 242

Sales E-commerce Tax Florida 242

TaxConnex

JULY 7, 2022

If it feels to you like the whole economic nexus and sales tax landscape is one-sided, the U.S. Government Accountability Office and many small businesses seem to agree. A GAO report states that all states with a statewide sales tax and D.C. A GAO report states that all states with a statewide sales tax and D.C.

Sales 245

Sales Tax audit Legal 245

TaxConnex

DECEMBER 2, 2021

Many manufacturers, wholesalers, and distributors believe they have minimal sales tax obligations due to the likelihood of sales tax-exempt transactions. The concept to consider is whether the sales by these types of businesses are exempt or not from sales tax collection. However, there are numerous pitfalls to be aware of.

Manufacturing 245

Manufacturing Sales Tax Non-Profits 245

TaxConnex

NOVEMBER 11, 2021

There’s always something changing in the world of tax, especially sales tax. ZIP it: The Streamlined Sales Tax Governing Board has requested input on changing the Streamlined Agreement’s rules on sourcing sales of digital goods when purchasers don’t provide certain address details. State Updates. California Gov.

Sales 49

Sales E-commerce Tax Illinois 49

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.

Sales 243

Sales Tax Connecticut Idaho 243

TaxConnex

AUGUST 19, 2021

In the fall of 2020, I published an article on how the sales tax picture is changing due to COVID-19. Now that we’re over a year into the pandemic, I wanted to provide an update on the sales tax landscape, what predictions have remained the same and what’s changed. sales tax economic nexus on remote sellers. Latest developments.

Sales 246

Sales E-commerce Tax Missouri 246

TaxConnex

JUNE 9, 2022

What’s new in May for state sales and use taxes. There’s always something changing in the world of tax, especially sales tax. Exempting groceries from sales tax as American families struggle with inflation and other economic woes is politically tempting. million in taxes a year on the sale of groceries.

Sales 246

Sales Tax Colorado Massachusetts 246