TaxConnex

MARCH 6, 2025

Youd think that if you eat it, its sales tax treatment would be the same at least similar across different states and given methods of preparation of the food. Pre-packaged food such as canned drinks, bottled beverages, packaged snacks, frozen meals and canned products can also be groceries for purposes of sales tax.

Sales 130

Sales Tax South Dakota Mississippi 130

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 264

Sales Tax Rhode Island Kansas 264

TaxConnex

MARCH 21, 2024

There’s always something changing in the world of tax, especially sales tax. The Court of Appeals of South Carolina has affirmed a state Administrative Law Court (ALC) finding that the online retail giant remains liable for eight figures in unpaid sales tax on third-party sales from 2016, interest and penalties. The ol’ one-two.

South Carolina 264

South Carolina Sales Tax Alabama 264

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

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.

Sales 246

Sales South Dakota Tax South Carolina 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

TaxConnex

OCTOBER 13, 2020

Companies that perform services often see themselves as tax exempt, and in many cases that is true, but there are certain states andsituations in which that is not the case. Gain a better understanding of your sales and use tax obligations with these frequently asked questions we have received from businesses that provide services.

Sales 246

Sales South Dakota Tax Hawaii 246

TaxConnex

SEPTEMBER 14, 2021

There’s always something changing in the world of tax, especially sales tax. Dire forecasts of states’ plunging sales tax revenue in the age of COVID continue to be proven wrong. billion for next year – with online sales taxes making up a substantial portion of the take. Texas sales tax revenue totaled $3.39

Sales 245

Sales Alabama Tax Alaska 245

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.

Sales 246

Sales Tax North Carolina Mississippi 246

TaxConnex

MAY 5, 2022

You’re trying to run a business and sales tax is not at the forefront of your plans. Make sure you aren’t making these common mistakes to ensure you have sales tax in order and aren’t at risk for penalties and fees in the case of an audit. SaaS), you deal with one of the most complex sales tax situations today.

Sales 244

Sales South Dakota Tax Hawaii 244

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

CPA Practice

AUGUST 19, 2023

The Internal Revenue Service will allow Hawaii taxpayers in Maui and Hawaii counties extra time – until February 15, 2024 – to file various federal individual and business tax returns and make tax payments that would have been normally been due before then. Quarterly estimated income tax payments normally due on Sept.

Hawaii 97

Hawaii Tax income tax tax return 97

TaxConnex

MAY 14, 2024

jurisdictions also involves dealing with sales tax. Responsibility to pay sales tax is based on a variety of factors, such as where the seller and buyer reside and the nature of the product being sold (some items qualify for sales tax exemptions ). On a marketplace platform, who has responsibility for the sales tax?

Sales 203

Sales South Carolina Rhode Island Tax 203

CPA Practice

APRIL 1, 2025

Residents of Hawaii are burdened by taxes the most, while Alaska residents have the lowest tax burden, a new WalletHub study found.

Hawaii 119

Hawaii Alaska Tax income tax 119

MyIRSRelief

MAY 24, 2023

The notice will state the amount of tax due, as well as interest and penalties. The notice will also include the following information: The amount of tax due The amount of interest and penalties The due date for payment Instructions on how to pay What do I need to do if I receive an IRS CP14 notice? What is an IRS CP14 notice?

North Carolina 147

North Carolina Oklahoma Ohio Texas 147

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

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

Accounting Today

AUGUST 21, 2023

The IRS announced that filing and payment deadlines will be moved back to February for those affected.

Hawaii 98

Hawaii Tax 98

TaxConnex

MAY 23, 2023

Last time we looked at a sample of the strange sales tax laws regarding food, including a sliced bagel in New York. If only that was the only complex category concerning sales tax. Diapers and groceries are taxed in Hawaii, Idaho, Utah, Kansas, Missouri, Oklahoma, Arkansas, Tennessee and Alabama, Mississippi and South Dakota.

South Carolina 130

South Carolina South Dakota Sales Montana 130

MyIRSRelief

MAY 24, 2023

The notice will state the amount of tax due, as well as interest and penalties. The notice will also include the following information: The amount of tax due The amount of interest and penalties The due date for payment Instructions on how to pay What do I need to do if I receive an IRS CP14 notice? What is an IRS CP14 notice?

North Carolina 130

North Carolina Oklahoma Ohio Texas 130

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. Here’s a look back at some of the year’s developments. Enter the Pandemic.

Sales 147

Sales Tax North Carolina Michigan 147

CPA Practice

MARCH 29, 2024

7, 2024, various tax-filing and tax-payment deadlines for individuals and businesses affected by the Aug. 8, 2023, wildfires in Hawaii. The previous federal tax relief, announced shortly after the fires, mainly lasted through Feb. 15 , which did not cover federal income tax filings for tax year 2023.

Hawaii 59

Hawaii income tax Tax tax return 59

TaxConnex

AUGUST 22, 2023

If you’re in this industry, the last thing you need added to your load is sales tax. Generally, a business in the construction industry is performing a service, and most services are excluded from sales and use tax. But sales tax has to be your concern if you engage in contracts in different states. Tax-exempt entities.

Construction 130

Construction Sales South Dakota Tax 130

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.

Sales 130

Sales Tax Alabama Texas 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

CPA Practice

FEBRUARY 8, 2024

The IRS and the agency’s Security Summit partners alerted tax professionals on Thursday of a scam email impersonating various software companies in an attempt to steal electronic filing identification numbers (EFINs). A little extra caution can mean a world of difference for tax professionals during this busy period.”

Hawaii 96

Hawaii Alaska Arizona Tax 96

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

CPA Practice

OCTOBER 27, 2023

The Internal Revenue Service is reminding employers that the best way to file their next quarterly payroll tax return by the Oct. Two options to electronically file payroll tax returns The first option for employers is to self-file by purchasing IRS-approved software that meets their specific needs. 31 payroll tax deadline.

payroll tax 105

payroll tax payroll South Carolina Tax 105

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.

South Carolina 124

South Carolina Georgia Tax income tax 124

CPA Practice

DECEMBER 19, 2023

The start of a month typically brings some number of tax-related changes. Erie County, New York, exempts energy sources and services New York state sales tax doesn’t apply to retail sales of residential energy sources and services, but local sales tax does apply in many jurisdictions, including Erie County. cents per gallon.

South Carolina 111

South Carolina Tax Florida tax return 111

Cherry Bekaert

NOVEMBER 16, 2023

Contributor: Tony Konkol, Manager | State & Local Tax Hawaii On October 31, 2023, the Hawaii Department of Taxation issued Tax Information Release (TIR) No. 72B , PTE Tax. Ask Your PTE Tax Questions The post State Pass-Through Entity Tax Updates: November 2023 appeared first on Cherry Bekaert.

Hawaii 83

Hawaii Ohio Louisiana Indiana 83

CPA Practice

FEBRUARY 11, 2023

After several days of requests by taxpayers, state agencies and the National Taxpayer Advocate , the Internal Revenue Service has provided clarifying the federal tax status involving special payments made by 21 states in 2022. Alaska is in this group as well, but please see below for more nuanced information.

Rhode Island 131

Rhode Island South Carolina income tax Idaho 131

CPA Practice

APRIL 9, 2024

A new study by WalletHub revealed that residents of New York state are burdened by taxes the most among the 50 states, while Alaska residents have the lowest tax burden. The following are some key findings from WalletHub’s study: As previously stated, New York has the highest overall tax burden, while Alaska has the lowest.

Rhode Island 105

Rhode Island Alaska New Hampshire Tax 105

CPA Practice

APRIL 22, 2024

The analysis accounts for average federal income taxes and withholdings for Social Security and Medicare, as well as state and local taxes. In Alabama, the analysis showed you will bring home just under 69% of your salary, after taxes. That means you’d need to earn $145,515 a year to bring home $100,000.

South Dakota 116

South Dakota Alabama New Hampshire Wyoming 116

Withum

JANUARY 8, 2025

This shared ownership offers unique tax advantages, particularly when it comes to transferring ownership. Tax Treatment: Typical Ownership vs. Undivided Interests When a single property is transferred to a single recipient on a fee simple basis, the entire value of the property is considered taxable. million to $2.4 Estate of Pearl I.

Real Estate 52

Real Estate tax planning Tax Iowa 52

Cherry Bekaert

AUGUST 10, 2023

Pass-through entity taxes (PTET) are constantly changing on a state-by-state basis. How Alabama’s PTET Works Alabama’s PTET election is made by submitting Form PTE-E via “My Alabama Taxes” on or before the 15 th day of the third month following the close of the tax year. Louisiana Louisiana House Bill No. House Bill No.

Alabama 98

Alabama Ohio Iowa Louisiana 98

TaxConnex

SEPTEMBER 26, 2024

The exception certificate figures big in your sales tax toolbox. A sales tax exemption certificate means you, the seller, don’t have to collect and remit sales tax on certain products and services and to certain clients (such as schools, hospitals or churches) in a state. Get in touch to learn more.

Rhode Island 130

Rhode Island West Virginia South Dakota North Dakota 130