TaxConnex

SEPTEMBER 10, 2024

When you sell across multiple states – or even within various localities in a single state – one striking observation emerges: the consistent inconsistency of sales tax rates. The federal income tax has just seven brackets to cover the whole span of what somebody can make. Why do sales tax rates have to be so complex?

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Accounting Today

JANUARY 10, 2024

Governor Kathy Hochul called for a new tax break to promote affordable housing and increase support for fighting crime in New York City.

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CPA Practice

AUGUST 6, 2024

TNS) More than 1 million New York families will begin receiving child tax credit checks this week. The checks will be delivered to families who received the Empire State Child Credit in the 2023 tax year. Filers are eligible for the credits if they have children under age 17 and qualify for the federal child tax credit.

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New York Tax tax return Government 95

CPA Practice

NOVEMBER 8, 2024

Plainview, NY-based accounting firm ZBS Group has acquired fellow New York-based firm Saul Rosenberg CPA, effective Nov. We are excited to welcome Saul Rosenberg into the ZBS Group family,” Michael Zaidman, tax partner at ZBS Group, said in a statement. Financial terms of the deal weren’t disclosed.

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Withum

SEPTEMBER 2, 2022

New York City’s tax code was amended on August 31, 2022, to harmonize a number of the City’s provisions with New York State. New York City Corporate Economic Nexus. This legislation does not apply to New York City Unincorporated Business Tax or General Corporation Tax.

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New York Tax tax return corporation tax 83

CPA Practice

SEPTEMBER 27, 2024

The place to be this week is New York City where many leaders of the accounting technology community are talking about the issue of responsible AI. This applies both to audit and tax work. Canopy’s CEO, Davis Bell, reminded us that the goal of AI is not to replace accountants.

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TaxConnex

NOVEMBER 26, 2024

Harder still to believe some of the strange sales tax laws that come with it. So as you plan to arrive at your family’s early, marvel that the Detroit Lions are actually good and get ready to send the stuffing around again, chew on these sales tax considerations associated with the feast. Hard to believe Turkey Day is here again.

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CPA Practice

NOVEMBER 5, 2024

Top 60 accounting firm KSM (Katz, Sapper & Miller) has expanded its presence in New York after acquiring Shanholt Glassman Klein Kramer & Co. SGKK), a New York City-based CPA firm with a focus on the real estate industry, effective Oct. Financial terms of the deal weren’t disclosed.

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TaxConnex

SEPTEMBER 5, 2024

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.

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TaxConnex

AUGUST 8, 2024

Many industries come with confusing sales tax complexities. So does agriculture, and several aspects make this industry trickier than others for sales tax. Here are points to keep in mind regarding sales tax and agriculture. Recently, for instance, Alabama degreed that some agriculture products exempt from sales and use tax.

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Agriculture Sales Tax South Dakota 264

TaxConnex

AUGUST 15, 2024

General tax laws are strange. Maybe sales tax laws make more sense? In Florida, you can get a tax break for displaying a cow on your property. You can get a big tax break in New Mexico if you just live to 100. Louisiana lets small private aircrafts soar tax-free, and Connecticut extends that to bigger planes.

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Sales South Dakota Tax South Carolina 264

TaxConnex

OCTOBER 15, 2024

Income tax often seems to grab most of the headlines, but sales tax can make for a hefty crime – and punishment – too. A famous case recently examined in the TaxConnex podcast It Depends episode, “Sales Tax Crimes - Pt. States are watching For Kozlowski, the sales tax matter was a $3.2

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TaxConnex

MARCH 21, 2024

There’s always something changing in the world of tax, especially sales tax. The Court of Appeals of South Carolina has affirmed a state Administrative Law Court (ALC) finding that the online retail giant remains liable for eight figures in unpaid sales tax on third-party sales from 2016, interest and penalties. The ol’ one-two.

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South Carolina Sales Tax Alabama 264

Withum

AUGUST 8, 2023

Whether it is manufacturers, clothing designers, software developers, plant breeders, winemakers, or engineers, businesses across New York State are shocked to hear how significantly their federal tax bills are increasing for the 2022 taxable year even when their earnings remain the same.

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TaxConnex

MAY 7, 2024

There’s always something changing in the world of tax, especially sales tax. A bill that would raise the online sales tax in Alabama is progressing with state lawmakers. The current Alabama sales tax is 8% for online purchases, the same as for purchases at the state’s brick-and-mortar stores. Leveling the field.

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Rhode Island Sales Tax South Carolina 264

TaxConnex

APRIL 30, 2024

Q: Is this a “tax” or a “fee”? RDFs are a relatively new concept: Colorado was first to roll one out, in July 2022. As with many taxes, this was created as one way to generate revenue. A: States always think a tax-revenue avenue is a good idea. Q: What’s happening in Illinois and New York?

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Minnesota Retail Colorado Tax 264

Shay CPA

JULY 26, 2023

An Overview of START-UP NY, QETC, and Life Sciences R&D Tax Credit Program New York has long been a global hub for finance, fashion, and food. START-UP NY: A Decade of Tax-Free Operations START-UP NY is a unique program aimed at partnering businesses with universities and colleges across the state.

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New York Technology income tax Real Estate 52

Accounting Today

MAY 23, 2024

billion in sales and other tourism-related tax revenue in the current fiscal year, a 16% jump from 2020. Tourists are expected to generate a record $4.9

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New York Tax Sales 72

TaxConnex

APRIL 9, 2024

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.”

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TaxConnex

DECEMBER 28, 2023

The new year will no doubt be another active one in sales tax. Weaker state revenue The kind of year it’s going to be for state coffers could greatly influence such future sales tax trends as new levies, tougher nexus thresholds and intensifying audits. Overall, state tax revenues dropped 5.3%.

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South Dakota Sales Tax Louisiana 264

TaxConnex

FEBRUARY 8, 2024

Sales tax compliance depends on many factors. One of the most important – and the most incessantly changing – is the tax rates that America’s thousands of jurisdictions impose. Exemptions can also seem whimsical: New York charges different sales tax on a bagel that’s sold as-is or has been toasted and smeared with cream cheese.

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TaxConnex

JANUARY 11, 2024

TikTok has told The New York Times that it has already signed up 200,000 sellers to Shop and that more than 100,000 creators could make videos and livestream with shopping buttons. And how do you manage sales tax when selling on it? TikTok Shop collects and remits sales tax on behalf of its sellers.

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Shay CPA

NOVEMBER 14, 2023

The state of New York offers some serious tax perks for tech startups operating within its borders. Specifically, if you can get certified as a qualified emerging tech company (QETC), you and your investors can claim some meaningful credits to lower your tax liability. And that could mean some notable tax savings.

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BurklandAssociates

JANUARY 23, 2024

Tax deadlines for startups in 2024, including federal filing dates and key dates for San Francisco, New York, and Seattle. The post Tax Deadlines for Startups in 2024 appeared first on Burkland.

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TaxConnex

DECEMBER 5, 2023

Clubs and dues have been around for decades, but the rise of certain memberships – and the ability to sell them over the internet – have also raised the question of whether memberships incur sales tax. Health and fitness club In some states membership in one of these creates a sales tax obligation; in others it doesn’t.

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South Carolina Sales Tax West Virginia 264

Patriot Software

SEPTEMBER 13, 2022

When you become an employer, part of your responsibilities include handling payroll taxes. On top of remitting taxes, you also might employ workers in a state with a paid family leave program, such as New York.

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New York payroll tax payroll Tax 78

TaxConnex

AUGUST 22, 2024

There’s always something changing in the world of tax, especially sales tax. Two states have changed their sourcing rules for the application of sales tax obligations. Two states are reportedly considering using higher sales tax to fund cuts in property taxes. Two-thirds of the tax would help reduce property tax.

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CPA Practice

OCTOBER 10, 2024

This year, the NYU School of Professional Studies (NYU SPS) Division of Programs in Business Finance and Taxation programs will bring its 83 rd Institute on Federal Taxation (IFT) to the Westin New York at Times Square, October 20 —25, and the Hotel Del Coronado in San Diego, November 17 —22. Partner, August Tax Law, PC Ethics Bryan.

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CPA Practice

MARCH 24, 2023

Residents and businesses in five New York counties affected by recent winter storms now have until May 15, 2023, to file various federal individual and business tax returns and make tax payments, the Internal Revenue Service has announced. Lawrence and Suffolk counties qualify for tax relief. 23 and Dec.

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TaxConnex

OCTOBER 8, 2024

But not all search engines – or state tax websites – are created equal. What it’s like typing “sales tax” into that little rectangle with the magnifying glass on each state’s website? Here are first impressions from one-and-done searches for “sales tax” on the revenue site of each state. Connecticut Dept.

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CPA Practice

JUNE 10, 2024

On June 27–28, government representatives and expert tax practitioners gather for the 16 th Annual Tax Controversy Forum , organized by the NYU School of Professional Studies Division of Programs in Business , in New York City. Copeland, Judge, United States Tax Court Hans Famularo, Esq., Elizabeth A. Hubbert, Esq.,

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CPA Practice

NOVEMBER 24, 2023

Top 35 accounting firm Weaver will be merging in New York-based CPA firm Buchbinder Tunick & Co. This deal expands Weaver’s East Coast presence to five offices, including two in New York City, one on Long Island, one in New Jersey, and one in Washington, D.C.

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Accounting Today

SEPTEMBER 12, 2024

The IRS is pushing back payment and filing deadlines for taxpayers hit by August weather.

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CPA Practice

NOVEMBER 20, 2023

Top 35 accounting firm Weaver will be merging in New York-based CPA firm Buchbinder Tunick & Co. This deal expands Weaver’s East Coast presence to five offices, including two in New York City, one on Long Island, one in New Jersey, and one in Washington, D.C.

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TaxConnex

FEBRUARY 1, 2024

It’s also safe to say that its storyline of repetition seems to echo what you must do, over and over and over, to comply with sales tax laws. It’s a doozy! – “Needlenose Ned” Ryerson There are multiple steps to make sure your sales tax compliance works well. The days you get over and over with sales tax are deadline days.

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TaxConnex

DECEMBER 12, 2023

But not for sales tax liability, where most states still maintain strong responsible party laws. And they can come as a real shock: CEOs, CFOs, directors and other execs can be held personally responsible for sales tax shortfalls. That’s true for many of the fiscal messes that can befall a company. How do they know who’s responsible?

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TaxConnex

NOVEMBER 12, 2024

Fear frequently motivates all tax compliance. And with sales tax, as with most other kinds of tax, that fear is of an audit. This unwanted (and sometimes seemingly random) scrutiny from tax jurisdictions can terrify small companies. How to get ready Assume you’re going to get hit with a sales tax audit sooner or later.

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audit Sales Tax auditor 147