TaxConnex

JANUARY 11, 2022

In Maine, shipment must also be directly to the purchaser and the shipment has to be by common or contract carrier or the U.S. In Maine, for instance, charges for delivery by the seller in their own vehicle are generally included in the taxable sales price if the products being delivered are taxable.

Sales 246

Sales Rhode Island South Dakota North Dakota 246

TaxConnex

JULY 21, 2022

In other words, if you’re selling to a customer in Maine and you’ve established that you have economic or physical nexus in that state, you must collect and remit Maine sales tax from that customer. Destination and origin rules Sales tax is usually calculated by the destination. Most states and Washington, D.C.,

Sales 246

Sales Tax Pennsylvania Ohio 246

TaxConnex

APRIL 9, 2024

Vitamin and supplement labels can also have “drug facts” that would likely trigger tax as a prescription or nonprescription drug – though if prescribed by a physician vitamins and supplements are exempt from sales tax in Alabama, Indiana, Iowa, Maine, and possibly Hawaii.

Sales 264

Sales West Virginia Tax Virginia 264

TaxConnex

AUGUST 1, 2024

North Carolina joins South Dakota, California, Colorado, Iowa, Maine, North Dakota, Washington and Wisconsin in eliminating transaction-based nexus thresholds ; some states never adopted one.

North Carolina 264

North Carolina Sales South Dakota North Dakota 264

BurklandAssociates

DECEMBER 7, 2020

There are four main areas Read More. By Michelle Villegas Threadgould Early-stage startups and founders face a particular set of risks as they try to grow and build companies built to last. The post The Top 4 Startup Risks appeared first on Burkland.

Maine 182

Maine accountant accounted Account 182

TaxConnex

SEPTEMBER 10, 2024

Why do the states with sales taxes have such a range, from the high combined state and local taxation (pushing 10%) of Louisiana, Tennessee, Arkansas and Washington to the lows of Alaska , Wyoming and Maine. Why do sales tax rates have to be so complex? Patchwork Forty-five states and the District of Columbia collect statewide sales tax.

Rhode Island 264

Rhode Island Sales Alaska Louisiana 264

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

BuildYourFirm

APRIL 14, 2020

The main thing I do as far as educating clients is one-on-one-coaching and consulting.” . Corey graduated from the University of Michigan. He is a licensed CPA in Michigan. Memorable Quotes: “I’ve always loved craft beer. It’s always been something on my mind.”.

Michigan 246

Michigan cpas Sports Education 246

RogerRossmeisl

SEPTEMBER 28, 2021

Here are the main tax benefits: Contributions made to an HSA are deductible, within limits, Earnings on the funds in the HSA aren’t taxed, Contributions your employer makes aren’t taxed to you, and Distributions from the HSA to cover qualified medical expenses aren’t taxed.

Account 189

Account accounted accountant Maine 189

RogerRossmeisl

JUNE 5, 2022

One of the main reasons for buying U.S. Many people own Series E and Series EE bonds that were bought many years ago. They may rarely look at them or think about them except on occasional trips to a file cabinet or safe deposit box.

Maine 187

Maine CPA Tax 187

RogerRossmeisl

FEBRUARY 18, 2024

Taxpayers living in Maine or Massachusetts have until April 17, due to state holidays. Here are answers to seven tax season questions we receive at this time of year. (1) 1) What are this year’s deadlines? The filing deadline to submit 2023 returns or file an extension is Monday, April 15, 2024, for most taxpayers.

Tax 159

Tax Massachusetts income tax tax return 159

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

FEBRUARY 18, 2021

For over 50 years, a physical presence was the determining factor for whether a business had a connection to a taxing jurisdiction and today, it is still one of the main ways to determine nexus. Wayfai r enacted economic nexus, physical presence reigned supreme when it came to determining a business’ sales tax obligation.

South Dakota 227

South Dakota Sales Transportation Tax 227

TaxConnex

DECEMBER 14, 2023

Maine charges sales tax on some services but also has a service provider tax on such items as lodging and prepaid calling services, among others. Florida , for instance, taxes security services but will cut a tax break for tiny firms. Indiana taxes services, but only a few.

West Virginia 264

West Virginia Virginia Kentucky Minnesota 264

TaxConnex

DECEMBER 5, 2023

In recent years IHRSA lent its voice to prevent imposition of sales taxes on health club memberships in Maine, Pennsylvania, West Virginia, Wyoming, Georgia and Arizona. Instead, policymakers should be actively encouraging physical activity,” the organization contends.

South Carolina 264

South Carolina Sales Tax West Virginia 264

Accounting Today

JULY 26, 2024

The Internal Revenue Service isn't in full compliance with the federal government's guidance for removal of TikTok from devices, according to a new report, but mainly because it hasn't been inserting the requirement in all its contract actions.

Maine 129

Maine Government Tax 129

Accounting Today

MAY 28, 2024

The Governmental Accounting Standards Board released an updated standard to improve some of the main components of the financial reporting model for state and local governments.

Government 124

Government accounting standards Maine accounted 124

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

Going Concern

SEPTEMBER 4, 2024

CBIZ has filed a data breach notification with the attorney general of Maine and you know what that means. Liberty Utilities Sanofi Sanofi Pasteur Seven Maine residents were affected by this breach. Wait, maybe you don’t know what that means. The retiree plan clients are: Central Pennsylvania Teamsters Knoll, Inc.

Pennsylvania 115

Pennsylvania Maine accounting firms accountant 115

Accounting Today

JANUARY 16, 2024

The chairs of Congress's two main tax committees announced a deal to extend a number of expired tax credits and tax breaks, including the expanded Child Tax Credit.

Tax 134

Tax Maine 134

TaxConnex

DECEMBER 27, 2022

There are many types of exemptions that could apply, but they often fit into two 6 main categories: RESALE EXEMPTIONS If you are selling products to distributors who will resell the product, the distributor is the one who needs to provide the resale exemption certificate to the seller to substantiate the exemption.

Sales 246

Sales Tax Non-Profits Maine 246

Accounting Today

SEPTEMBER 25, 2023

The IRS says taxpayers in Maine and Massachusetts who were hit by the hurricane now have until Feb. 15 to file and pay some taxes.

Massachusetts 130

Massachusetts Tax Maine 130

TaxConnex

DECEMBER 28, 2023

In 2021, Wisconsin and Maine both removed their transaction threshold; in 2023, South Dakota and Louisiana joined suit. Expect more of the same in 2024. Holidays Some time ago, politicians (and not tax experts, as has been subsequently acknowledged) discovered that sales tax holidays were a great way to garner public support.

South Dakota 264

South Dakota Sales Tax Louisiana 264

Accounting Today

DECEMBER 11, 2023

What are the main factors driving finance employees to leave their jobs?

Finance 124

Finance Maine 124

TaxConnex

MAY 24, 2022

Nearly half the attendees of a recent TaxConnex webinar on multi-channel selling use direct/retail eCommerce as their main avenue of sales. Add internet sales to the mix and you’ve got sales tax obligations sprouting up these days more than ever.

South Dakota 246

South Dakota Sales Retail Tax 246

Insightful Accountant

JUNE 17, 2024

Today's Main Stage of Scaling New Heights featured Insightful Accountant's 2024 ProAdvisor recipients.

Account 111

Account accounted accountant Maine 111

TaxConnex

JANUARY 28, 2021

Especially in this economic climate, the continual updates associated with sales tax can be a lot to keep track of, especially if relying on an internal team whose main function is not sales tax compliance. If you think your business may be impacted by sales tax developments, contact TaxConnex.

Sales 233

Sales Alaska Tax Illinois 233

CPA Practice

OCTOBER 25, 2024

Small and midsized businesses are facing growing staffing challenges, as rising business costs and economic conditions are prompting potential layoffs, according to the Fall 2024 Main Street Index from top 15 accounting firm CBIZ. While the top tactics remain the same as the accounting firm’s Summer Main Street Index, there was a 4.1%

Healthcare 111

Healthcare Maine Washington Tax 111

TaxConnex

MARCH 21, 2024

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.

South Carolina 264

South Carolina Sales Tax Alabama 264

TaxConnex

SEPTEMBER 22, 2020

The main factor to consider is that by providing VoIP service , you are now considered a telecom service provider. Wherever you have customers, you must collect the taxes. My service provider handles all of my taxes for me. While there is an element of truth to this, it is not an effective strategy.

Tax 246

Tax California auditor Sales 246

TaxConnex

SEPTEMBER 28, 2022

(More than 10,000 nationwide, and still counting – even in Alaska , which has no state-wide sales tax, jurisdictions are banding together to make online businesses collect and remit local sales tax.). Penalties for failing to file and remit state sales tax can be severe. Both civil and criminal statutes can apply.

South Dakota 246

South Dakota Alaska Sales Tax 246

TaxConnex

AUGUST 31, 2021

There are two main qualifications for your business to be accepted into a VDA program. If back taxes are not disclosed but are instead discovered through an audit, the taxpayer is at a disadvantage and will end up being assessed various penalties, plus interest plus all historical tax due.

audit 244

audit Tax Sales Maine 244

Wellers Accounting

MARCH 7, 2024

Tom Biggs ACA CTA, summarises the main announcements from Jeremy Hunt's latest Budget statement.

Maine 105

Maine Tax 105

TaxConnex

NOVEMBER 29, 2022

Outside consultants can primarily provide audit support in one of three ways: answering questions and reviewing workpapers throughout the audit process; analyzing audit findings to pinpoint mitigation options; and handling the day-to-day requirements of the audit as the main point of contact with the auditor.

audit 262

audit auditor general ledger Non-Profits 262

CPA Practice

APRIL 15, 2024

Faster response times: Taxpayers waited, on average, just over three minutes for help on the IRS main phone lines. Taxpayers in Maine and Massachusetts have until April 17 to file and pay taxes due this year. tool, according to statistics released on Monday.

Tax 119

Tax tax return Maine Massachusetts 119

CPA Practice

OCTOBER 23, 2024

Small and midsized businesses are facing growing staffing challenges, as rising business costs and economic conditions are prompting potential layoffs, according to the Fall 2024 Main Street Index from top 15 accounting firm CBIZ. While the top tactics remain the same as the accounting firm’s Summer Main Street Index, there was a 4.1%

Healthcare 110

Healthcare Maine Washington Tax 110