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What's new in May for state sales and use taxes

TaxConnex

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.

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Sales Tax on Shipping: When Does it Apply?

TaxConnex

It’s one of the most important aspects of an online business – and one of the wackiest when trying to determine whether sales tax applies or not. Many states say that when the contents of a shipment are taxable, so is the shipping cost; similarly, when items in a shipment are exempt from sales tax, so is the cost of shipping.

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State Sales and Use Tax Update

TaxConnex

There’s always something changing or new going on in the world of tax, especially sales tax. Nationwide , the Streamlined Sales Tax Governing Board has made amendments to the Streamlined Sales and Use Tax (SST) Agreement to revise its amnesty-related provisions. It’s reported to bring about $9 million in revenue annually.

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Massachusetts Enacts Single-Sales Apportionment Among Other Tax Provisions

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On October 4, 2023, Massachusetts enacted tax legislation (H.4104), 4104), which will dramatically affect how businesses calculate their Massachusetts income. Historically, most businesses in Massachusetts apportioned income using a three-factor apportionment formula comprising of property, payroll, and double-weighted sales.

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Noteworthy Changes for Massachusetts Income Taxpayers

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Most state income tax systems fall into two categories: progressive tax and flat tax. Massachusetts touts a “flat tax” system. It is equitable, doesn’t punish high-income earners, and everyone is left with the same percentage of after-tax earnings to spend, right? Good News or Bad News?

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The latest on sales tax on shipping charges (part 2)

TaxConnex

Shipping is indispensable to eCommerce yet sales tax on it remains a mishmash of regulations across the states. In our previous blog, we looked at how exemptions, the taxability of the item being shipped and selling into tax-free states affect sales tax on shipping.

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Tax Framework Released: Tax Relief for American Families and Workers Act of 2024

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We are excited to announce that Ways and Means Chairman Jason Smith (R-MO) and Senate Finance Committee Chairman Ron Wyden (D-OR) released a bipartisan tax framework that promotes Main Street businesses, while also providing more financial security to families in need. For the 2023 taxable year, a 179 expense of $1.16

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