TaxConnex

MAY 2, 2023

Mike Dunleavy is reportedly preparing to introduce a sales tax as part of a long-term budget plan for the state. Five states don’t have a statewide sales tax: New Hampshire, Oregon, Montana, Alaska and Delaware (aka the “NOMAD” states). Vermont was the last state to adopt a sales tax, in 1969.

Alaska 130

Alaska Sales Tax New Hampshire 130

CPA Practice

APRIL 9, 2024

These taxes fund social insurance programs such as Social Security, Medicare, and unemployment benefits. Here’s a quick breakdown of payroll taxes: Federal Income Tax Withholding : Employers must withhold federal income tax from employees’ wages based on their W-4 Forms and Internal Revenue Service (IRS) guidelines.

payroll tax 110

payroll tax West Virginia payroll cpas 110

CPA Practice

OCTOBER 4, 2024

For the 2025 tax filing season, Direct File will also be available in Alaska, Connecticut, Idaho, Kansas, Maine, Maryland, New Jersey, New Mexico, North Carolina, Oregon, Pennsylvania and Wisconsin. During the pilot, Direct File supported taxpayers claiming the Earned Income Tax Credit, Child Tax Credit and Credit for Other Dependents.

Alaska 126

Alaska South Dakota North Carolina tax return 126

CPA Practice

NOVEMBER 4, 2024

million – $4,999,999 $5 million – $10,000,000 Over $10 million What is the biggest document challenge your firm faces? million – $4,999,999 $5 million – $10,000,000 Over $10 million What is the biggest document challenge your firm faces?

Rhode Island 59

Rhode Island West Virginia South Dakota North Dakota 59

CPA Practice

APRIL 3, 2024

Unlike tax rates, which vary widely based on an individual’s circumstances, tax burden measures the proportion of total personal income that residents pay toward state and local taxes, according to WalletHub. Maine has the highest property tax burden, while Alabama has the lowest. 1 being the highest and No.

Rhode Island 111

Rhode Island Alaska New Hampshire Tax 111

CPA Practice

APRIL 9, 2024

Unlike tax rates, which vary widely based on an individual’s circumstances, tax burden measures the proportion of total personal income that residents pay toward state and local taxes, according to WalletHub. Maine has the highest property tax burden, while Alabama has the lowest. 1 being the highest and No.

Rhode Island 105

Rhode Island Alaska New Hampshire Tax 105

CPA Practice

OCTOBER 23, 2024

Email (Required) Number of Employees at Your Firm (Required) Number of Employees at Your Firm Sole Proprietor 2 To 4 5 To 9 10 To 19 20 To 49 50 Or More Full Name (Required) State / Province (Required) State / Province Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas (..)

Rhode Island 52

Rhode Island West Virginia South Dakota North Dakota 52

CPA Practice

OCTOBER 30, 2024

million – $4,999,999 $5 million – $10,000,000 Over $10 million What software or tools are you using to manage your engagements, or how does your team currently manage client engagements and reporting processes?

Rhode Island 52

Rhode Island West Virginia South Dakota North Dakota 52

CPA Practice

OCTOBER 22, 2024

million – $4,999,999 $5 million – $10,000,000 Over $10 million Consent Policy (Required) By downloading this content, you agree to our Terms and Conditions. million – $4,999,999 $5 million – $10,000,000 Over $10 million Consent Policy (Required) By downloading this content, you agree to our Terms and Conditions.

payroll 52

payroll Rhode Island West Virginia South Dakota 52

inDinero Tax Tips

APRIL 20, 2021

From startups to public enterprises, your bottom line is affected by your state of incorporation’s corporate income tax, excise (sales and use) tax, sales tax , physical and economic nexus tax, franchise tax, and gross income tax. Nevada does not collect state income tax.

Delaware 64

Delaware Wyoming Nevada Oregon 64

inDinero Tax Tips

APRIL 11, 2023

From startups to public enterprises, your bottom line is affected by your state of incorporation’s corporate income tax, excise (sales and use) tax, sales tax, physical and economic nexus tax, franchise tax, and gross income tax. The lack of sales tax in Delaware is a bonus.

Delaware 52

Delaware Nevada Sales Tax 52

MyIRSRelief

AUGUST 2, 2024

Employment Taxes Cannabis businesses are not exempt from employment tax obligations. They must withhold federal income tax, Social Security, and Medicare taxes from employees’ wages and pay the employer’s share of these taxes.

audit 130

audit Tax Nevada Colorado 130

ThomsonReuters

FEBRUARY 6, 2024

The differences between direct tax and indirect tax are important to understand. Direct tax is paid directly by the taxpayer to the government and cannot be shifted, like federal income tax. In contrast, indirect tax, such as business property taxes, can be passed on or shifted to others.

Tax 52

Tax income tax Oregon Ohio 52

CPA Practice

OCTOBER 4, 2023

Massachusetts introduced a state-level wealth tax last year, and the legislatures in California , Connecticut , Hawaii , Illinois , Maryland , New York , Oregon and Washington have all seen wealth tax bills introduced this year. Second, no matter how it’s positioned, a wealth tax is not based on objective facts.

Tax 105

Tax income tax Hawaii Oklahoma 105

ThomsonReuters

APRIL 25, 2024

As an accountant, understanding state tax considerations for various sources of retirement income — including pensions, Social Security benefits, 401(k) and IRA distributions, Thrift Savings Plans (TSPs), and military retirement income — is crucial in helping your clients minimize their tax liability and make the most of their golden years.

South Dakota 52

South Dakota Rhode Island New Hampshire Wyoming 52

CPA Practice

SEPTEMBER 20, 2024

million – $4,999,999 $5 million – $10,000,000 Over $10 million What is the biggest document challenge your firm faces? million – $4,999,999 $5 million – $10,000,000 Over $10 million What is the biggest document challenge your firm faces?

Rhode Island 52

Rhode Island West Virginia South Dakota North Dakota 52

CPA Practice

AUGUST 26, 2024

million – $4,999,999 $5 million – $10,000,000 Over $10 million How many clients does your firm serve? million – $4,999,999 $5 million – $10,000,000 Over $10 million How many clients does your firm serve?

Rhode Island 52

Rhode Island West Virginia South Dakota North Dakota 52

CPA Practice

APRIL 12, 2023

By missing out on filing a tax return, people stand to lose more than just their refund of taxes withheld or paid during 2019. Many low- and moderate-income workers may be eligible for the Earned Income Tax Credit (EITC). The EITC helps individuals and families whose incomes are below certain thresholds in 2019.

Rhode Island 122

Rhode Island tax return Tax West Virginia 122

CPA Practice

SEPTEMBER 3, 2024

million – $4,999,999 $5 million – $10,000,000 Over $10 million Which practice management system do you use? million – $4,999,999 $5 million – $10,000,000 Over $10 million Which practice management system do you use?

Rhode Island 52

Rhode Island West Virginia South Dakota North Dakota 52

Anders CPA

MAY 23, 2023

Be aware that misclassifying an employee as an independent contractor with no reasonable basis for doing so can result in stiff punishment, including being held liable for employment taxes for that worker without the ability to access relief provisions. Several states also have paid family and medical leave (PFML) programs.

payroll tax 98

payroll tax payroll Rhode Island Tax 98

TaxConnex

FEBRUARY 9, 2021

If you sell into the handful of states that don’t have nexus or don’t have a general sales tax, you might think you’re home free when it comes to obligations to remit sales tax. Forty-five states and the District of Columbia have a statewide sales tax. Alaska, Delaware, Montana, New Hampshire and Oregon do not.

Sales 143

Sales Delaware Alaska Montana 143

CPA Practice

OCTOBER 18, 2023

Some key factors to evaluate include: Tax rates Tax rates vary widely across states. Some states have higher corporate income tax rates, while others offer lower rates or no tax at all. Property tax rates can vary significantly, impacting the cost of owning or leasing business space.

business tax 59

business tax Tax Alaska South Dakota 59

CPA Practice

OCTOBER 9, 2024

The supplemental budget introduced by Governor Mills provides a blanket sales tax exemption to any nonprofit that’s exempt from federal income tax under Section 501(c)(3). Such entities no longer need to pay the state sales tax on items purchased as part of their mission. It can be painfully subjective.”

Maine 115

Maine Sales Tax Texas 115

CPA Practice

JULY 19, 2024

million – $4,999,999 $5 million – $10,000,000 Over $10 million Do you have a document management system? million – $4,999,999 $5 million – $10,000,000 Over $10 million Do you have a document management system?

Rhode Island 52

Rhode Island West Virginia South Dakota North Dakota 52

Anders CPA

MAY 15, 2023

Below we dive into the state and unemployment tax responsibilities employers need to know. It’s important to remember an out-of-state employee will be considered an employee in the state in which they work , not the state in which the business is based or in which the employee lives.

payroll tax 52

payroll tax payroll South Dakota Rhode Island 52

Cherry Bekaert

JANUARY 22, 2024

Newly proposed legislation, the Tax Relief for American Families and Workers Act of 2024 (the Act) , could potentially move the deadline for the Employee Retention Credit (ERC) claim submissions to the end of January 2024. We will continue to monitor the Act’s progress through both houses of Congress.

Tax 52

Tax tax return Oregon Missouri 52

MyIRSRelief

SEPTEMBER 1, 2020

You should look at the tax expenses of your state and consider other options if they provide for a better business environment. No Individual or Corporate Income Tax: Nevada, South Dakota, and Wyoming. No State Sales or Individual Income Tax: Alaska. No State Sales Tax: Montana, New Hampshire, and Oregon.

tax planning 100

tax planning Tax South Dakota New Hampshire 100

CPA Practice

JULY 17, 2023

Exemptions are also adding up : State legislatures continue to introduce an assortment of temporary and permanent sales tax exemptions. Combined with a related desire to limit income tax and property tax rate increases, the growing use of exemptions is accelerating the narrowing of the state tax base.

Tax 52

Tax Oregon Maryland Colorado 52

ThomsonReuters

JULY 10, 2023

This is a point where it can get confusing for businesses as local sales tax varies by state. In fact, there are five states — Delaware, Montana, New Hampshire, Alaska, and Oregon — that do not levy a general state sales tax. For the majority of states that do apply sales tax, the sales tax rate can vary within state lines.

Sales 98

Sales Tax Michigan Washington 98

CPA Practice

JULY 28, 2023

Currently, states with some form of digital advertising taxes include Connecticut, Massachusetts, New York and Texas. Arkansas, Connecticut and Indiana have implemented digital taxes on social media transactions. Many of these new policies came in the wake of the 2018 South Dakota vs.

Maryland 52

Maryland Tax Virginia West Virginia 52

ThomsonReuters

JUNE 22, 2021

The following local income tax rates will increase on July 1: (1) Cridersville increases to 1.5% While negative reporting is not required, the Department of Treasury strongly encourages holders to file. Negative reporting is not accepted. and (2) Midvale increases to 1.5%. . per hour; (2) standard counties: $12.75 per hour. .

payroll 72

payroll Virginia Utah West Virginia 72

ThomsonReuters

JUNE 28, 2021

Oregon: $12.00 Income tax rates to change in 2023. Iowa has enacted legislation that will drop the tax rate from 8.53% to 6.5% and reduce the number of tax brackets from nine to four in 2023. Voter approval for tax bracket reduction. New York: $15.00 Note : NYC’s fast-food workers are already paid $15.00

payroll 52

payroll California income tax North Dakota 52

ThomsonReuters

JUNE 10, 2021

Among the book’s provisions include: (1) increasing the employer provided childcare tax credit for businesses, (2) creating a new general business credit equal to 10% of the eligible expenses paid or incurred in connection with onshoring a U.S. For the latest in tax, accounting, and payroll news, visit tax.tr.com/blog.

payroll 98

payroll Vermont Tax Connecticut 98

TaxConnex

APRIL 18, 2023

WalletHub compared the 50 states across the three tax types of state tax burdens — property taxes, individual income taxes and sales and excise taxes — as a share of total personal income in each state. Pandemic effect.

Sales 130

Sales North Carolina Tax Alaska 130

CPA Practice

NOVEMBER 1, 2023

The oil and gas industry boosted the per capita incomes for residents of North and South Dakota. Mountain states such as Utah saw high earners moving in from California, Oregon and Texas. States where inflation-adjusted income declined included Alaska, where oil drilling has been in long-term decline, as well as Georgia and Maryland.

North Dakota 52

North Dakota South Dakota Utah Connecticut 52

ThomsonReuters

FEBRUARY 22, 2021

The Oregon Bureau of Labor and Industries has updated its Meal and Rest Breaks FAQs. Several states have produced teleworking guidance since the COVID-19 pandemic resulted in many employees working from home in a state different from their typical work state. Meal and rest break FAQs.

payroll 95

payroll Montana Wisconsin Gaming 95

CPA Practice

AUGUST 20, 2024

Many tipped workers earn so little they already aren’t required to pay federal income taxes; Yale Budget Lab estimates this is the case for about 37% of tipped workers. That also means they must continue to report tips, even if federal taxes on tips are eliminated; also, the proposals would not affect state income tax requirements.

Tax 52

Tax income tax payroll tax payroll 52