TaxConnex

APRIL 4, 2024

South Dakota joins California, Colorado, Iowa, Louisiana, Maine, Massachusetts, North Dakota, Washington and Wisconsin in recently eliminating transaction-based nexus thresholds. Thirteen economic-nexus states never had such thresholds.)

South Dakota 264

South Dakota North Dakota Wisconsin Iowa 264

TaxConnex

AUGUST 8, 2024

In five major farming states, for instance, these annual thresholds are now $100,000 in sales in Iowa or South Dakota; and, in Illinois, Nebraska and Minnesota, $100,000 in sales or 200 transactions.

Agriculture 264

Agriculture Sales Tax South Dakota 264

TaxConnex

JANUARY 16, 2024

This includes whether you’re selling to a business or a consumer (as in Iowa, Maryland and Ohio), unique state sales tax rates (Connecticut), home-rule jurisdictions (Colorado and Illinois), partial exemptions (Texas), to name a few. SaaS incurs sales tax in roughly half the states. Many nuances affect sales tax and SaaS in various states.

Iowa 264

Iowa Connecticut Maryland Colorado 264

TaxConnex

SEPTEMBER 1, 2022

Some examples: Iowa: Gross sales to the state over $100,000; no annual transaction threshold. Wayfair allowed the state to force out-of-state sellers to collect sales tax provided they had at least $100,000 in gross revenue or has at least 200-transactions sourced into the state. Mississippi: $250,000 sales; no transaction threshold.

South Dakota 246

South Dakota Mississippi Iowa Sales 246

TaxConnex

JUNE 20, 2023

South Dakota joins California, Colorado, Iowa, Maine, North Dakota, Washington and Wisconsin in eliminating transaction-based nexus thresholds. As of July 1, South Dakota is removing the 200-transaction threshold; only those selling $100,000 or more into the state will be required to register and collect and remit sales tax. Starting Aug.

South Dakota 246

South Dakota North Dakota Wisconsin Iowa 246

TaxConnex

JANUARY 11, 2022

Stating the shipping cost separately on the invoice affects its taxability in Alabama, Arizona, Illinois, Iowa, Maryland, Oklahoma, Utah, Virginia and Wyoming. But even a portion of taxable items renders a whole shipment’s shipping cost subject to sales tax in Kentucky, New Mexico, New York and Pennsylvania.

Sales 246

Sales Rhode Island South Dakota North Dakota 246

TaxConnex

JUNE 13, 2024

Colorado, for instance, used to also require or 200 or more separate transactions in the state, but has since joined South Dakota, California, Iowa, Louisiana, Maine, Massachusetts, North Dakota, Washington and Wisconsin in eliminating transaction-based thresholds. Not all changes work against sellers.

South Dakota 264

South Dakota North Dakota Massachusetts E-commerce 264

Cherry Bekaert

OCTOBER 10, 2023

Iowa On September 29, 2023, the Iowa Department of Revenue announced that the 2022 Pass-Through Entity (PTE) Tax election and 2022 PTE Tax Form are available through GovConnectIowa. The Iowa Department of Revenue will not be issuing paper forms or modifying any existing 2022 income forms or schedules.

Iowa 104

Iowa North Carolina Virginia Tax 104

CPA Practice

FEBRUARY 28, 2023

By Erin Murphy, The Gazette, Cedar Rapids, Iowa (TNS) Hundreds of Iowans did not get their correct federal tax refund due to a clerical error by the state revenue department, the department confirmed Friday, and state money will be used to fix the mistake. Once the error was discovered, a corrected file was sent to the IRS.

Iowa 80

Iowa Tax tax return Government 80

TaxConnex

NOVEMBER 16, 2021

These states include New Jersey, Illinois, New York, Nevada, Louisiana, Maine, Kansas, Iowa, and Rhode Island. In this case, it is better to have a qualified sales tax specialist firm like TaxConnex monitor their nexus and make sure that they are collecting and remitting sales tax to the proper jurisdictions.

South Dakota 242

South Dakota E-commerce Rhode Island Illinois 242

TaxConnex

SEPTEMBER 5, 2024

Iowa: Exempt if separately billed or separately stated on the invoice. Illinois : S&H taxable when the transportation and delivery charges aren’t separately identified to the purchaser on the contract or invoice, among other conditions. Indiana: Generally, incurs sales tax if the item does.

Sales 264

Sales Tax Rhode Island Kansas 264

TaxConnex

AUGUST 9, 2022

Iowa exemptions now include diapers and feminine hygiene products, specified digital products and prewritten computer software.?Exemptions Iowa has modified its sales tax base. semiconductor projects?on on construction and building materials. for exemptions for nonprofits, which must now see sales of less than $20,000 in a year.

Sales 130

Sales Louisiana Tax Iowa 130

Withum

OCTOBER 14, 2021

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Iowa 52

Iowa Tax 52

Xero

JULY 7, 2022

I am originally from Naperville, Illinois and I’m currently a senior studying accounting and business analytics at the Tippie College of Business at the University of Iowa. The past couple years, I have been involved in the BizEdge mentoring program at University of Iowa, serving as both a mentee and a mentor.

Iowa 82

Iowa accounting and finance Illinois bookkeeping 82

Accounting Today

AUGUST 9, 2024

With the merger, the Regional Leader will add offices in Cedar Rapids and Coralville, Iowa.

Iowa 78

Iowa 78

TaxConnex

SEPTEMBER 26, 2024

In other states, exemption certificates expire after set periods, such as one year in Alabama and three years in Connecticut, Illinois (where three years is the recommended update period for a resale certificate), Iowa and Louisiana.

Rhode Island 130

Rhode Island West Virginia South Dakota North Dakota 130

Katz,Sapper&Miller

NOVEMBER 21, 2018

Jason Miller and Shane Schuh with KSM’s Transportation Services Group will present “Lease Accounting Update and its Impact on the Transportation Industry” to members of the Iowa Motor Truck Association on Dec. 2016-02, Leases (Topic 842), which goes into effect Dec.

Iowa 40

Iowa Transportation accounting standards Account 40

TaxConnex

DECEMBER 7, 2023

Iowa topped the list for having the highest search levels for Black Friday in the U.S., During peak hours of both days, shoppers spent $15.7 million every minute. Analysis of Google activity also showed that the most searched term in Black Friday was iPhone deals. followed by South Dakota, Kentucky, West Virginia and Kansas.

Sales 147

Sales Tax West Virginia South Dakota 147

Cherry Bekaert

AUGUST 10, 2023

Iowa The Iowa Department of Revenue published guidance on their PTET election , which was enacted on May 11, 2023, but retroactive to tax years beginning on or after January 1, 2022. Hawaii The Hawaii Department of Taxation issued Tax Information Release Notice 2023-01. Louisiana Louisiana House Bill No.

Alabama 98

Alabama Ohio Iowa Louisiana 98

Going Concern

JULY 28, 2022

. “The energy and the enthusiasm is amazing, and that translates to my mind to productivity and happier clients at the end of the day,” he said, while visiting one of PwC’s offices in Des Moines, Iowa.

Iowa 105

Iowa Account accountant accounted 105

CPA Practice

APRIL 5, 2024

Iowa $1,443,717 $524,580 36.3% The table below shows a state-by-state breakdown of the average lifetime earnings compared to estimated lifetime taxes, and the percentage of earnings that will go toward tax payments, according to Self Financial: State Lifetime earnings Lifetime taxes % of earnings New Jersey $1,818,191 $987,117 54.3%

West Virginia 126

West Virginia Rhode Island South Dakota North Dakota 126

CPA Practice

DECEMBER 20, 2023

Louis, Honkamp has eight offices in Iowa and Wisconsin. The new location will be the first office in Missouri for Honkamp, and the merger increases the firm’s headcount to about 300 employees. In addition to St.

cpa firm 104

cpa firm CPA Iowa Wisconsin 104

CPA Practice

SEPTEMBER 11, 2023

The Iowa Society of CPAs or ISCPA is offering their Fall CPE Conference September 21-22, 2023 at the Hilton Garden Inn in Cedar Rapids. For nearly four decades, Bryson has served in a variety or roles at NCACPA including Chief Operating Officer prior to becoming CEO on May 1, 2016.

CPA 111

CPA Wisconsin North Carolina Iowa 111

TaxConnex

AUGUST 2, 2022

Back-to-school remains the predominant theme of sales tax holidays in many states in August, including Iowa (Aug. Eligible purchases are often limited to a dollar amount. What’s on sale? 5-6) and Missouri, New Mexico, Ohio, Oklahoma, South Carolina, Texas and Virginia (all Aug. 5-8); Illinois (Aug. 5-14); Arkansas (Aug. 6-7); Maryland (Aug.

Sales 130

Sales West Virginia South Carolina Tax 130

Going Concern

SEPTEMBER 27, 2023

Candidates sitting for BEC for the first time in the following jurisdictions have until Sunday, October 1 to apply for this section: Alaska Arkansas California Colorado Connecticut Delaware DC Georgia Guam Hawaii Illinois Indiana Iowa Kansas Louisiana Maine Maryland Massachusetts Michigan Minnesota Missouri Montana Nebraska New Hampshire New Jersey (..)

CPA 122

CPA Rhode Island West Virginia South Dakota 122

TaxConnex

JULY 13, 2023

Iowa , Aug. As we saw last time, sales tax holidays are continuing to enjoy a heyday this year. Here are the back-to-school and clothing holidays that start in August. 4-5: Any article of wearing apparel and typical footwear intended to be worn on or about the human body.

Sales 130

Sales West Virginia South Carolina Tax 130

TaxConnex

JANUARY 24, 2023

Stating the shipping cost separately on the invoice, for instance, affects taxability in Alabama (as does how the item is delivered), Arizona, Iowa, Maryland, Massachusetts (if the shipping cost “reasonably reflects” the vendor’s real cost), Missouri and Wisconsin – but not in Tennessee.

Sales 26

Sales South Carolina Tax Massachusetts 26

TaxConnex

OCTOBER 13, 2022

Starting in Iowa next summer, electric fuel sold at a nonresidential location will become subject to an excise tax of 2.6 What’s ahead? cents per kilowatt hour. Expect this trend to increase as electric vehicles become more and more common.

South Carolina 130

South Carolina Sales Tax Colorado 130

CPA Practice

OCTOBER 5, 2023

National Association of State Boards of Accountancy, New Jersey Society of CPAs, Ohio Society of CPAs, Oklahoma Society of CPAs, Rhode Island Society of CPAs, Tennessee Society of CPAs, Virginia Society of CPAs, and Washington Society of CPAs.

CPA 119

CPA Rhode Island cpas Montana 119

TaxConnex

AUGUST 4, 2022

Recently Hawaii, Texas, Wisconsin, Illinois, Michigan, Iowa, Louisiana and North Carolina added laws. Most states with economic nexus laws also employ marketplace facilitator laws (it is best to consult with a sales tax expert or CPA to find the most updated laws). States also frequently tinker with their facilitator laws.

Wisconsin 130

Wisconsin North Carolina Michigan Hawaii 130

Going Concern

MARCH 16, 2023

Firms have to pay talent so much more, in fact, that many of them share the concern of Glen Swanson, CFO at MHCS in Iowa, about “maintaining profitability while having to significantly increase salaries.”

accounting firms 123

accounting firms Technology Iowa Account 123

TaxConnex

JUNE 22, 2021

States like South Carolina and Iowa reported early, positive, revenue collections on the new requirements. As businesses were reeling from the costs and nuances of managing new requirements , more states sharpened their nexus requirements and talk began about serious enforcement for non-compliance.

South Dakota 147

South Dakota E-commerce South Carolina Missouri 147

CPA Practice

JULY 5, 2023

The region with the highest growth (0.62%) was the Plains (Iowa, Kansas, Minnesota, Nebraska and the Dakotas.) The only region to show no growth in employment was the Southwest (Arizona, New Mexico, Oklahoma and Texas), where employment was flat.

Agriculture 105

Agriculture Nebraska Iowa Oklahoma 105

CPA Practice

APRIL 11, 2023

That effect is even more significant for younger workers, according to the paper, from economists Natalia Emanuel of the Federal Reserve Bank of New York, Emma Harrington of the University of Iowa and Harvard University’s Amanda Pallais.

Iowa 111

Iowa New York California payroll 111

TaxConnex

JUNE 22, 2023

The birth-state of Wayfair joins California, Colorado, Iowa, Maine, North Dakota, Washington and Wisconsin in eliminating transaction-based nexus thresholds. South Dakota, for example, is removing the 200-transaction threshold; only those selling $100,000 or more into the state will be required to register and collect and remit sales tax.

South Dakota 130

South Dakota North Dakota Colorado Minnesota 130

CPA Practice

FEBRUARY 27, 2023

A spokesman for the Iowa Department of Revenue said the department in January sent a file to the IRS that contained incorrect data for some Iowa taxpayers. Last fall, the Iowa Department of Revenue failed to notice a legislative oversight to amend state law to account for property tax changes signed into law in 2013 and 2021.

Iowa 52

Iowa Tax tax return Government 52

PYMNTS

NOVEMBER 23, 2020

The states involved include Colorado, Iowa, Nebraska, New York, North Carolina, Tennessee, and Utah, according to Reuters. The group is sometimes referred to as the Colorado/Nebraska group and has said it could combine its case with the larger one from the The Department of Justice (DOJ).

Nebraska 89

Nebraska North Carolina Colorado Iowa 89