TaxConnex

OCTOBER 3, 2023

Highs and lows: According to The Tax Foundation’s most recent analysis , the five states with the highest average combined state and local sales tax rates are Tennessee (9.548%), Louisiana (9.547%), Arkansas (9.44%), Washington (9.4%) and Alabama (9.24%). Effective next Jan. Effective next Jan.

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Sales Louisiana Tax Tennessee 147

TaxConnex

FEBRUARY 9, 2023

California is then responsible to see that the local taxes are distributed to the appropriate local jurisdictions. Other states allow local jurisdictions to administer their own taxes. This is prevalent in Alabama, Colorado, and Louisiana. Louisiana also offers a single Remote Seller Return.

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Sales Louisiana Alabama Tax 130

TaxConnex

FEBRUARY 10, 2022

Some states — notably Alabama, Colorado, Louisiana, Alaska, among others — empower municipalities and other jurisdictions to levy sales taxes. Also with some states, you must specify the tax you’re registering for (e.g., sales tax or use tax). sales tax or use tax). Learn your filing schedule.

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Sales Tax E-commerce Alaska 246

TaxConnex

MAY 11, 2021

In a few states, most notably Alabama, Colorado, and Louisiana, there are separate local level returns that you are required to file. Colorado alone has 73 home-rule jurisdictions each requiring their own sales tax return to be filed. Don’t get tripped up by specialty tax rates (non-sales tax rates).

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Sales Tax Colorado tax return 162

Going Concern

NOVEMBER 8, 2024

Municipal Messes Delayed audit finds ‘material weaknesses’ in Elton’s finances and procedures [ KPLC (Louisiana)] The town agreed to address such deficiencies including timely adopting an operating budget, hiring someone qualified to prepare financial statements, and submitting required paperwork to the Legislative Auditor’s Office by the due date.

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TaxConnex

AUGUST 9, 2022

One of the biggest culprits in 2022: Florida, which expanded their sales tax holiday programs to five additional (“rather arbitrary”) categories in lieu of targeted, permanent reforms. Three new laws aim to give the Louisiana Sales and Use Tax Commission for Remote Sellers more authority and centralizing sales tax.

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Sales Louisiana Tax Iowa 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. E-filing is the most secure, accurate method to file returns, and saves time. The second option for employers is to hire a tax professional to prepare and file their employment tax returns.

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payroll tax payroll South Carolina Tax 105

CPA Practice

APRIL 12, 2023

million people across the nation (state-by-state list below) have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return. billion in refunds remain unclaimed because people haven’t filed their 2019 tax returns yet. Need to file a 2019 tax return?

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Rhode Island tax return Tax West Virginia 122

TaxConnex

SEPTEMBER 28, 2023

In home-rule states like Louisiana, local jurisdictions may tack on added fees. The challenges Generally, you need to pin down several details no matter what tax jurisdiction you’re registering with. The correct type of tax. Should you register for sales tax, seller’s use tax or consumer’s use tax?

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Sales Tax West Virginia North Dakota 147

Snyder

JUNE 9, 2022

State income taxes. Business income taxes. Local income taxes. Assessment tax return and short tax return. Income tax deadlines. Income tax extension: when is the last day to file income tax? Federal income tax brackets 2021 vs IRS income tax brackets 2022.

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income tax tax return E-commerce Tax 52

TaxConnex

AUGUST 4, 2022

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). Recently Hawaii, Texas, Wisconsin, Illinois, Michigan, Iowa, Louisiana and North Carolina added laws. returns for direct sales and indirect sales.?.

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Wisconsin North Carolina Michigan Iowa 130

Cherry Bekaert

AUGUST 10, 2023

Louisiana Louisiana House Bill No. The Louisiana PTET election is effective for the tax year made, and succeeding tax years until terminated. 428 was recently signed into law, providing two technical modifications to the state’s PTET election applicable to taxable years beginning on or after January 1, 2023.

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Alabama Ohio Iowa Louisiana 98

TaxConnex

JUNE 6, 2023

Local sales taxes can also apply, especially in home-rule states like Colorado, Illinois and Alabama. California also has a ton of local taxes, and Louisiana has a sales tax system infamously complex. But it isn’t so different from Canada , where provinces apply widely varying combinations of their three sales taxes.

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Sales Tax South Dakota Alaska 130

CPA Practice

OCTOBER 12, 2023

Also exempt from the tax: Gross receipts from the retail sale of any firearm, firearm precursor part, or ammunition by any licensed firearms dealer, firearms manufacturer, or ammunition vendor in any quarterly period in which their total gross receipts from the retail sales of firearms, firearm precursor parts, or ammunition is less than $5,000.

California 124

California Sales Tax Pennsylvania 124

CPA Practice

OCTOBER 16, 2023

Taylor, Kiplinger Consumer News Service (TNS) Many Californians thought their taxes were due today (Oct. 16), but the IRS has further postponed tax deadlines for people in 58 counties impacted by natural disasters last winter. 16, 2023, to file their 2022 federal income tax returns and pay any tax due.

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California Tax tax return income tax 64

CPA Practice

MARCH 7, 2023

For example, it makes sense to suggest electing S Corp status to your clients when their self-employment tax burden exceeds the tax burden if the corporation converted to an S Corp. For businesses structured as corporations, being an S Corp can help them avoid paying taxes at the corporate and shareholder levels.

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New Hampshire tax return Tax income tax 114

CPA Practice

APRIL 14, 2023

have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return, the IRS said on Wednesday. billion in refunds remain unclaimed because people have not filed their 2019 tax returns yet. People face a July 17 deadline to file their returns. million people across the U.S.

Rhode Island 52

Rhode Island West Virginia South Dakota North Dakota 52

CPA Practice

APRIL 13, 2023

have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return, the IRS said on Wednesday. billion in refunds remain unclaimed because people have not filed their 2019 tax returns yet. People face a July 17 deadline to file their returns. million people across the U.S.

Rhode Island 52

Rhode Island West Virginia South Dakota North Dakota 52

CPA Practice

OCTOBER 18, 2023

Of the 45 states (plus the District of Columbia) that have a general sales tax, 10 stand out as being especially tricky for sales tax compliance: Arizona, California, Colorado, Florida, Illinois, Louisiana, Missouri, New York, Tennessee, and Texas. To illustrate the knottiness, here are some examples.

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Sales South Dakota Tax Missouri 59

Anders CPA

SEPTEMBER 28, 2022

Many states don’t require a company to collect tax if all they provide is nontaxable services. How a state may define SaaS could determine if a company is required to file a sales tax return in a particular state, regardless of if SaaS is actually taxable by law within that given state.

Rhode Island 52

Rhode Island West Virginia South Dakota South Carolina 52

CPA Practice

APRIL 19, 2024

Remit sales tax to the proper tax authority Once sales tax has been collected as required, it must be remitted on time with a sales tax return to the proper tax authority. Some states require marketplace facilitators to identify their own sales separately from third-party sales on their sales tax returns.

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Tax Wyoming Alaska Louisiana 59

Going Concern

OCTOBER 20, 2023

Investigators say Williams’ work came under suspicion when the Louisiana Legislative Auditor and an independent auditor were unable to reconcile his reports on the court’s finances for the year 2020. Nevada CPA Pleads Guilty To Filing False Tax Returns [ U.S.

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CPA quickbooks Real Estate auditor 111

SkagitCountyTaxServices

MAY 26, 2021

With May 17th behind us (though for those in Texas, Louisiana and Oklahama — this was just another day. But before we leave taxes in the rearview, let’s address an unfortunate reality: as a business owner, you have a greater number of tax reporting obligations than a regular person has. Teach me and I remember.

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business tax Tax tax return income tax 41

ThomsonReuters

JUNE 14, 2021

The IRS has posted a June 2021 draft version of the Form 941 , Employer’s Quarterly Federal Tax Return, instructions that take into account the amended and expanded coronavirus (COVID-19) pandemic tax credits and the new COBRA premium assistance credit from the American Rescue Plan Act (ARPA). Federal News.

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payroll Missouri Virginia Delaware 98

ThomsonReuters

JULY 10, 2023

Given that sales tax rates often differ at the state and local levels, this can sway a consumer to shop across borders for a lower rate or buy their products online. For instance, when this article was published, Louisiana ranked among the states with the highest average combined state and local sales tax rates at 9.6

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Sales Tax Arizona Georgia 97

ThomsonReuters

MARCH 22, 2021

The aim of this legislation would be to help avoid increases in unemployment tax rates for employers. Winter storm disaster tax relief. In Louisiana , the IRS announced winter storm disaster tax relief for the storms that occurred from February 11, 2021 through February 19, 2021.

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payroll Tax Texas Arkansas 52

PYMNTS

JANUARY 8, 2018

The new service will allow consumers who filed their taxes using Credit Karma to take a $500-$1000 advance on their tax refund without an additional fee or charge. Funds can be deposited into a consumer’s account with 24 hours of the IRS accepting their fully filed tax return.

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Tax Louisiana Legal Colorado 42

inDinero Tax Tips

APRIL 11, 2023

The Delaware franchise tax A franchise tax is a state charge on corporations to conduct business in their state. Other states that have a franchise tax include Alabama, Arkansas, Delaware, Georgia, Illinois, Louisiana, Missouri, New York, North Carolina, and Oklahoma.

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Delaware Nevada Sales Oregon 52

Withum

FEBRUARY 1, 2023

Set in New Orleans, Louisiana this year, there was plenty of fun (Phillies Astros World Series Game 1) and information to go around. LIFO The Last-In First-Out inventory method is a common inventory valuation method used by many dealerships that can help taxpayers lower their income tax for a period of time.

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accounting and finance income tax Tax CPA 52

inDinero Tax Tips

APRIL 20, 2021

The Delaware franchise tax. A franchise tax is a charge by states on corporations to conduct business in their state. Currently, Alabama, Arkansas, Delaware, Georgia, Illinois, Louisiana, Missouri, New York, North Carolina, and Oklahoma have a franchise tax.

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Delaware Wyoming Nevada Oregon 58

CPA Practice

OCTOBER 2, 2023

By Katelyn Washington, Kiplinter Consumer News Service (TNS) The IRS has granted Louisiana tax relief to areas of the state impacted by seawater intrusion. Affected taxpayers now have extended tax deadlines of Feb. 15, 2024, to file certain tax returns and make tax payments. 20, 2023, to Feb.

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Louisiana Tax tax return Mississippi 59

ThomsonReuters

JUNE 28, 2021

The IRS has issued the much anticipated revised Form 941 , Employer’s Quarterly Federal Tax Return, and its instructions for used beginning with the second quarter of 2021. Alabama has announced tax filing and payment extensions to state taxpayers affected by Topical Storm Claudette. This includes withholding taxes.

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payroll California income tax North Dakota 52

TaxConnex

FEBRUARY 11, 2025

Louisiana has increased its sales tax, making its combined rate among the highest in the U.S. The new rate is 5%, up from 4.45%, creating a combined state and local sales tax rate of some 12%. Louisiana is no longer printing and mail copies of the state sales tax return to businesses registered for sales tax.

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Sales Arizona Louisiana Tax 147

TaxConnex

MARCH 18, 2025

The state clarified that these do not incur Indiana sales tax as they arent tangible personal property or specified digital products. Louisiana , citing cost-cutting , will no longer mail state sales tax returns to businesses.

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Sales Tax Louisiana Illinois 147

CPA Practice

MAY 19, 2023

Sherrod Brown wants to tweak a controversial upcoming tax rule that would require third-party payment platforms to issue 1099-K forms to small business owners and entrepreneurs who have at least $600 in sales. Bill Cassidy, a Louisiana Republican, that would raise to $10,000 the sales threshold that would trigger the forms.

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Tax Louisiana Missouri Ohio 98

CPA Practice

NOVEMBER 15, 2023

As part of the behind-the-scenes maneuvering that culminated in Louisiana Rep. He acknowledges that providing SALT (state and local tax) relief is critical for middle-class Americans burdened by double taxation and must be addressed in any tax bill the House considers,” said Rep.

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