CPA Practice

AUGUST 1, 2024

And their deep knowledge of New Mexico and the Southwest U.S. “CLA continues to be an attractive location for exceptional organizations like Axiom that are looking to grow and expand, within a firm that has similar values and philosophies. economy will only further to extend the value that CLA brings to clients across the country.”

New Mexico 52

New Mexico cpas Real Estate tax consultant 52

Going Concern

MARCH 31, 2023

The post Local Man Offers Terrible Advice to Desperate New Mexico Taxpayers appeared first on Going Concern. It’s not their fault and we know local TV stations don’t read fringe accounting tabloids but still…too little too late, my guy. Good luck to them I guess.

New Mexico 59

New Mexico tax preparation CPA Tax 59

TaxConnex

MARCH 1, 2022

Several states levy their sales tax or its equivalent on services, among them Hawaii (which has a general excise tax, or GET), and New Mexico. As our economy becomes increasingly service-based, this is seemingly changing as states and other tax jurisdictions realize they’re missing a potentially big tax revenue stream.

South Dakota 246

South Dakota Sales West Virginia Tax 246

CPA Practice

AUGUST 13, 2024

By Kylie Garcia The Santa Fe New Mexican (TNS) Aug. 5—New Mexico is now the fourth state that can use the IRS’s new system for filing federal taxes, which officials believe will make the 2025 tax season easier and save people time and money. million in filing costs using the new free online filing tool.”

New Mexico 52

New Mexico tax preparation Oregon New Jersey 52

TaxConnex

OCTOBER 13, 2020

New Mexico, Hawaii, and South Dakota tax a variety of services. My company only provides services, so what type of sales tax concerns should I have? In most states, the performance of personal and professional services is not a taxable event.

Sales 246

Sales South Dakota Tax Hawaii 246

TaxConnex

JANUARY 11, 2022

When only some of the contents of a shipment are taxable, the shipping charges must be pro-rated in Minnesota, New Jersey, North Carolina, North Dakota, Ohio, Rhode Island, South Dakota, Vermont, Washington and Wisconsin (where a “reasonable allocation” is required). Taxability can also depend on how the bill/invoice is presented.

Sales 246

Sales Rhode Island South Dakota North Dakota 246

TaxConnex

JULY 30, 2024

In New Mexico, the federal government exemption doesn’t always apply. Some industries, such as manufacturing and agriculture, have many sales tax exemptions, including for equipment and some supplies. Manage the customers’ certificates you have on file.

South Dakota 264

South Dakota Alaska New Hampshire Montana 264

TaxConnex

MAY 5, 2022

SaaS for example is subject to sales tax in many states and many services are taxable in states like Hawaii, South Dakota, and New Mexico. Services tend to not be taxable, but this is changing state-by-state almost daily. If your business sells?software software or software-as-a-service?(SaaS),

Sales 244

Sales South Dakota Tax Hawaii 244

TaxConnex

JULY 8, 2021

New Mexico, however, allows retailers to opt-out of its gross receipts tax holiday. Ohio’s holiday applies to state and local sales tax, and participation is mandatory. Massachusetts also mandates that all businesses, including e-commerce businesses, participate.

Sales 246

Sales South Carolina E-commerce Tax 246

TaxConnex

SEPTEMBER 5, 2024

New Jersey: Taxable if the item is. New Mexico: Taxable, but bear in mind that the state has a gross receipts tax , which can be passed on to the buyer or not. New York: On a taxable product or service, shipping or delivery that the seller includes on the bill become part of the receipt and subject to sales tax.

Sales 264

Sales Tax Rhode Island Kansas 264

CPA Practice

MARCH 21, 2024

Idaho, New Mexico, Maine , and Rhode Island are just a few states where counties don’t use state-created, standardized return and depreciation forms. California, New Mexico, South Carolina, and Maricopa County, Arizona), while others still require taxpayers to file by mailing paper returns.

Rhode Island 119

Rhode Island Arizona Tax South Carolina 119

CPA Practice

FEBRUARY 11, 2023

This means that people in the following states do not need to report these state payments on their 2022 tax return: California, Colorado, Connecticut, Delaware, Florida, Hawaii, Idaho, Illinois, Indiana, Maine, New Jersey, New Mexico, New York, Oregon, Pennsylvania and Rhode Island.

Rhode Island 131

Rhode Island South Carolina income tax Idaho 131

ThomsonReuters

JUNE 15, 2022

These legislative highlights have been grouped into two categories: new opportunities for tax relief and new tax obligations. Tax Relief Enacted in Delaware, Florida, Georgia, and New Mexico. New Mexico Rebates and Relief Payments. Delaware Relief Rebate Program.

Rhode Island 105

Rhode Island Delaware Oklahoma Tax 105

CPA Practice

DECEMBER 7, 2023

The IRS also allowed taxpayers who either had, or adopted, a new child in 2021 to claim cash payments as part of the 2021 Recovery Rebate Credit. It’s unclear what prompted the rumors. The bottom line is this: If you live in California, don’t expect to receive a stimulus check from the government anytime soon.

Montana 118

Montana Idaho New Mexico Illinois 118

TaxConnex

MAY 23, 2023

Almost half the states have stopped sales tax on diapers, but these baby products still, despite frequent efforts at repeal, incur sales tax in Maine, Ohio, Michigan, New Mexico, Nebraska, Washington and Nevada. Take diapers.

South Carolina 130

South Carolina South Dakota Sales Montana 130

Withum

MARCH 2, 2021

(..)

New Mexico 40

New Mexico Tax 40

TaxConnex

SEPTEMBER 26, 2024

Dates vary – a lot Many states’ certificates have no expiration: Arizona (the seller chooses the period of exemption); Arkansas; Colorado (this can depend on the purpose of the exemption); Georgia; Hawaii; Idaho; Indiana; Maine; Minnesota; Mississippi; Nebraska; New Mexico; New Jersey, New York, North Carolina; North Dakota; Ohio; Oklahoma; South Carolina; (..)

Rhode Island 130

Rhode Island South Dakota West Virginia North Dakota 130

CPA Practice

JULY 28, 2023

For example, if you ship a rolling pin to 333 Apple Lane, Pie Town, New Mexico, 87827, and if you’re registered for New Mexico sales tax, you’d have to charge the sales tax rate in effect at 333 Apple Lane, Pie Town, New Mexico, 87827. Fun fact, New Mexico sales tax is actually a gross receipts tax.)

Sales 98

Sales Retail Tax New Mexico 98

TaxConnex

JANUARY 17, 2023

Among states with sales tax, shipping generally incurs sales tax in the District of Columbia, Kansas and New Mexico.

Rhode Island 130

Rhode Island West Virginia Sales Alaska 130

TaxConnex

FEBRUARY 14, 2023

In New Mexico, the method of delivery can dictate the taxability. Dining , either in a restaurant or taking out, is taxable in most states, sometimes at a rate different from the state sales tax. This can depend on details: For example, tax in California depends on the temperature of the food.

Rhode Island 130

Rhode Island Sales North Carolina Tax 130

TaxConnex

OCTOBER 27, 2022

In New Mexico, candy is non-taxable if it’s sold at a “retail food store” – indicating that nexus may be the deciding factor for eCommerce sellers. Ditto Utah – except if a transaction includes both food/ingredients and other taxable items of tangible personal property. Not merely because’.

Sales 130

Sales South Dakota West Virginia South Carolina 130

CPA Practice

APRIL 5, 2024

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% New York $1,658,872 $748,199 45.1%

West Virginia 126

West Virginia Rhode Island South Dakota North Dakota 126

TaxConnex

AUGUST 2, 2022

5-6) and Missouri, New Mexico, Ohio, Oklahoma, South Carolina, Texas and Virginia (all Aug. 21-27); and New Jersey (Aug. Eligible purchases are often limited to a dollar amount. What’s on sale? Back-to-school remains the predominant theme of sales tax holidays in many states in August, including Iowa (Aug. 5-8); Illinois (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 South Dakota West Virginia 122

TaxConnex

JULY 13, 2023

New Mexico , Aug. Missouri , Aug. 4-6: Clothing or shoes priced at less than $100. The price limit for desktop, laptop, tablets or notebook computers is $1,000; the limit for related computer hardware is $500.

Sales 130

Sales West Virginia South Carolina Tax 130

TaxConnex

OCTOBER 3, 2023

New Mexico updated its description of the gross receipts tax collection responsibilities for online marketplace providers and sellers. The updated guidance reflects the new reduced gross receipts tax rate used for out-of-state taxpayers, 4.875%.

Sales 147

Sales Louisiana Tax Tennessee 147

TaxConnex

AUGUST 9, 2022

New Mexico , with a condition, has become the first state in years to reduce its state sales tax (aka, the state’s gross receipts tax). Maryland has revised Business Tax Tip #29 to acknowledge exclusion of certain business purchases of digital products. The rate has dropped from 5.125% to 5%.

Sales 130

Sales Louisiana Tax Iowa 130

CPA Practice

MAY 3, 2024

New Jersey New Jersey annual back-to-school sales tax holiday , August 24–September 2, 2024 Computers priced less than $3,000 School computer supplies (e.g., More details can be found at the New Jersey Division of Taxation and in P.L. on the ninth day preceding the first Monday in September and 11:59 p.m.

Sales 119

Sales Nevada Tax West Virginia 119

PYMNTS

OCTOBER 2, 2020

The website is now being piloted with retailers from Montana, Colorado, Texas, New Mexico, Massachusetts and Maryland. "We went from whiteboard to launch in 30 days because we care fiercely about seeing our small businesses survive COVID and thrive after COVID," said SANDIA Marketing and Advertising Founder Bernard Sandoval.

Montana 94

Montana Maryland New Mexico Colorado 94

CPA Practice

JULY 5, 2023

The only region to show no growth in employment was the Southwest (Arizona, New Mexico, Oklahoma and Texas), where employment was flat. Top Growth Regions The Small Business Index identifies eight regions throughout the U.S., seven of which saw small business employment growth in the last month.

Agriculture 105

Agriculture Nebraska Iowa Oklahoma 105

PYMNTS

DECEMBER 15, 2020

More than 50 percent of the retail locations are in California, but the retailer has an “established retail presence” in Hawaii, New Mexico, Colorado, Florida, Arizona, Nevada and Texas. The chain currently has 167 retail locations, most of them operating under the Shoe Palace flag. 31, 2019, according to the announcement.

Sports 88

Sports California Hawaii Arkansas 88

CPA Practice

NOVEMBER 6, 2024

Throughout his leadership, the firm has grown from 50 to nearly 900 employees with nine offices throughout Texas and New Mexico, eight of which opened under Autrey’s leadership. He has served as the CEO for Whitley Penn for more than 20 years. Additionally, Autrey led the firm through more than a dozen acquisition events.

New Mexico 111

New Mexico Texas CPA Tax 111

PYMNTS

OCTOBER 29, 2020

During the week ending Oct.

Rhode Island 83

Rhode Island West Virginia South Carolina North Carolina 83

CPA Practice

APRIL 3, 2024

The following is how the states rank by overall tax burden, with No. 1 being the highest and No.

Rhode Island 111

Rhode Island Alaska New Hampshire Tax 111

CPA Practice

SEPTEMBER 9, 2024

Currently: Taxpayers in parts of Arkansas , Iowa , Mississippi , New Mexico , Oklahoma , Texas , and West Virginia have until Nov. Disaster-area taxpayers get an extension Taxpayers who live, work, or have a business in a disaster-area locality automatically qualify for a delayed tax-payment deadline.

South Dakota 95

South Dakota West Virginia South Carolina North Carolina 95

CPA Practice

AUGUST 25, 2024

Specified digital products are generally subject to New Jersey sales and use tax, as are receipts for installing, maintaining, servicing, or repairing specified digital products. New Mexico. Digital goods are generally subject to New Mexico gross receipts tax. North Carolina.

West Virginia 130

West Virginia Rhode Island South Carolina Tax 130

CPA Practice

OCTOBER 4, 2024

During the pilot last year, Direct File was available in Arizona, California, Florida, Massachusetts, Nevada, New Hampshire, New York, South Dakota, Tennessee, Texas, Washington State and Wyoming. In 2025, more than 30 million taxpayers in those 24 states will be eligible to use Direct File.

Alaska 126

Alaska South Dakota North Carolina tax return 126