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Refunds and sales tax

TaxConnex

Its a safe bet that few of them hit the target, which leads to returns, which leads to refunds from sellers, to which leads to the nagging question: Does sales tax get refunded along with the purchase price? The more accurate answer, particularly when something as complex as sales tax gets involved, is: Probably, but watch the details.

Sales 147
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Groceries vs. restaurant food: Digging into the sales tax differences

TaxConnex

Youd think that if you eat it, its sales tax treatment would be the same at least similar across different states and given methods of preparation of the food. Pre-packaged food such as canned drinks, bottled beverages, packaged snacks, frozen meals and canned products can also be groceries for purposes of sales tax.

Sales 130
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Vitamins, supplements and sales tax – the latest

TaxConnex

For purposes of incurring sales tax in any state, that essentially translates into “sometimes.” In other instances, vitamins and supplements aren’t taxed at all. How do you handle sales tax liability if you sell vitamins, dietary supplements or other items in this nebulous category? And we don’t mean “sometimes.”

Sales 264
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Doeren Mayhew Adds BHT&D in Michigan

CPA Practice

Top 60 accounting firm Doeren Mayhew has expanded its footprint in western Michigan by acquiring Biggs, Hausserman, Thompson & Dickinson (BHT&D CPAs), a Saranac-based full-service CPA firm. Joshua Garvey “We’re committed to continuing to grow our West Michigan market. Financial terms of the deal weren’t disclosed.

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What's New in State Sales and Use Taxes

TaxConnex

There’s always something changing in the world of tax, especially sales tax. Dire forecasts of states’ plunging sales tax revenue in the age of COVID continue to be proven wrong. billion for next year – with online sales taxes making up a substantial portion of the take. Texas sales tax revenue totaled $3.39

Sales 245
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Sales Tax and Vitamins/Dietary Supplements

TaxConnex

You won’t find too many more confusing sales tax scenarios than the one involving dietary supplements. For purposes of sales tax, sometimes supplements and vitamins are considered drugs (prescription or not), sometimes groceries or food, sometimes tangible personal property – and sometimes not. Sales tax isn’t getting any easier.

Sales 246
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Sales tax on shipping: latest updates

TaxConnex

Ecommerce couldn’t exist without shipping (and probably not without shipping’s partner “handling,” either), but do either incur sales tax? As is often the case in sales tax, it depends on what, how and where. Portions of packages that contain non-taxable or exempt items get a break on the tax on the S&H.

Sales 264