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Hawaii to Offer Tax Amnesty to Switch Short Term Rentals to Long Term

CPA Practice

Hawaii has some of the highest median home prices and rents in the country — and a persistent housing crisis. Could tax incentives geared toward turning Hawaii short-term rentals (STRs) into long-term housing increase housing stock and decrease rents for Hawaiians? By Gail Cole. Governor Josh Green thinks so.

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5 Common Sales Tax Mistakes That Can Put You At Risk for Non-Compliance

TaxConnex

SaaS for example is subject to sales tax in many states and many services are taxable in states like Hawaii, South Dakota, and New Mexico. For tax purposes, it is the jurisdiction (state, county and city) that has the legal authority to tax a transaction. If your business sells?software software or software-as-a-service?(SaaS),

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

TaxConnex

Among other findings: Sales tax bases range from 19.32% of personal income in Massachusetts to 93.89% in Hawaii; the Massachusetts base is extremely narrow, while the Hawaii base features significant tax pyramiding. Opponents promise legal challenges. Additional updates.

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What’s new in sales tax?

TaxConnex

The five states with the lowest average combined rates are (the still technically NOMAD state of) Alaska (1.82%) as well as Hawaii (4.5%), Wyoming (5.44%), Maine (5.5%) and Wisconsin (5.7%). BOI oh boy. The much talked-about new Beneficial Ownership Information (BOI) requirement for millions of small companies under the U.S.

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Sales tax and Marketplaces: Who owns the responsibility?

TaxConnex

TikTok: As a marketplace facilitator, TikTok may be congressionally embattled but is legally required to calculate, charge and collect applicable sales taxes on all sales made through its retail arm, TikTok Shop, which enables product discovery, checkout and post-payment activities from within the TikTok app.

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Exemption Certificate Expirations

TaxConnex

Otherwise, you the seller have legal responsibility to assess and collect the sales tax from the purchaser and can be penalized later if you don’t. Your buyer produces a valid exemption certificate that you keep on file. It pays to know all you need to know about an exemption certificate.

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Best States to Practice Dentistry In

DentalAccounting

Certified Tax Coaches are tax professionals with advanced training in proactive tax planning who specialize in finding deductions, credits, loopholes, and strategies to help their clients pay less tax legally. Massachusetts. Connecticut. California. New Jersey. New Hampshire. Minnesota.