CPA Practice

OCTOBER 31, 2024

tax professionals responsible for managing sales tax obligations for independent retailers reveals that 97% of respondents say they have automated or plan to automate their sales tax compliance process. A new Avalara survey of U.S. The survey, which was conducted from Oct. The survey, which was conducted from Oct.

Sales 116

Sales Tax accounting and finance bookkeeping 116

CPA Practice

NOVEMBER 27, 2024

These statistics highlight an undeniable reality: delivering outstanding CX is not optional—it is a strategic imperative, even in specialized sectors like tax technology. Retailers expect to have instant, accurate tax calculations at the point of sale to meet customer expectations for seamless transactions.

Tax 116

Tax Technology Retail audit 116

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.

Sales 264

Sales Tax Rhode Island Kansas 264

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.

Agriculture 264

Agriculture Sales Tax South Dakota 264

TaxConnex

OCTOBER 27, 2020

We can’t say it enough – sales tax is complex. We’ve compiled some of the top questions we get from clients on sales & use tax. Part 1 of these questions was on sales tax and business services. What is the difference between sales and use tax? Most states have both a "sales" and a "use" tax.

Sales 246

Sales Tax Retail auditor 246

TaxConnex

FEBRUARY 15, 2024

There’s always something changing in the world of tax, especially sales tax. B&O responsibility: A Washington State appellate court has found two sellers responsible for sales tax and business and occupation (B&O) tax on sales made through Amazon’s Fulfillment by Amazon (FBA) program. No refund, stat!:

Sales 263

Sales Tax Illinois Washington 263

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.

South Carolina 264

South Carolina Sales Tax West Virginia 264

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.

Rhode Island 264

Rhode Island Sales Tax South Carolina 264

TaxConnex

SEPTEMBER 13, 2022

Remote retail sales just got rockier in Colorado, which has begun imposing a 27-cent fee on every retail delivery made by motor vehicle to a destination in the state. The fee will apply when at least one item is subject to sales or use tax and the delivery is mailed, shipped or delivered by motor vehicle. Will the fee stand?

Colorado 246

Colorado Tax Sales tax return 246

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?

Rhode Island 264

Rhode Island Sales Alaska New Hampshire 264

TaxConnex

AUGUST 1, 2024

If it seems like jurisdictions just ceaselessly add additional sales tax laws, statutes and restrictions, recent news out of three states should be refreshing. New Jersey , in a move seemingly counter to a nationwide trend, has repealed its annual sales tax holiday for certain school supplies and sport or recreational equipment.

North Carolina 264

North Carolina Sales South Dakota North Dakota 264

TaxConnex

NOVEMBER 3, 2020

There’s always something changing or new going on in the world of tax, especially sales tax. In Alabama , tax licenses – including for sales tax, sellers use tax and the simplified sellers use tax – must be renewed annually as of Nov. New York City tax revenues in March and April fell $1.15

Sales 246

Sales Tax Wisconsin Vermont 246

TaxConnex

JANUARY 5, 2021

As if sales tax nexus and taxability rules weren’t confusing enough, throw in marketplace facilitators and drop shipments and it’s easy for a business of any size to want to give up on sales tax compliance. The transaction between the retailer and the end-customer. The first scenario is a bit more complicated though.

Sales 246

Sales Tax Manufacturing California 246

TaxConnex

SEPTEMBER 10, 2020

Lately they’ve been followed by retailers, notably restaurants , nationwide. These fees raise the question – "are COVID surcharges subject to state sales taxes?”. Nevada , Texas , South Carolina and New Jersey are among the first states mandating surcharges on retail sales subject to sales tax. States to watch.

South Carolina 246

South Carolina Sales Nevada Tax 246

TaxConnex

MARCH 31, 2022

One such phrase is “sales and use tax.”. We sure know what “sales” tax is. What about Use Tax? Use tax is defined ?as as a tax on the storage, use or consumption of a taxable item or service on which no sales tax has been paid. Use tax or sales tax is due on a sale, but not both. Your ‘choice’.

Alabama 246

Alabama Tax Washington California 246

TaxConnex

SEPTEMBER 26, 2023

“Revenue” can also vary, meaning “ gross revenue ” in some states and “taxable receipts” or “retail receipts” in others. (We Usually all retail sales of tangible personal property (TPP) are taxable, but many states have started to tax services. Louisiana home-rule locations largely follow their state-wide tax treatment for TTP.

Sales 264

Sales Tax South Dakota Colorado 264

TaxConnex

FEBRUARY 11, 2021

And it might land right on your company’s bottom line after sales and use tax obligations. Expected s pending on Valentine’s Day gifts this year dropped to an average $164.76 , down about $32 from a record high in 2020 , according to the National Retail Foundation. Sales tax compliance can seem overwhelming, but it doesn’t have to be

Sales 246

Sales Tax Retail 246

TaxConnex

AUGUST 27, 2024

Have Home Rule Jurisdictions Made the Burden of Managing Sales and Use Tax Too Much? As if managing sales and use tax obligations on a multi-state level wasn’t hard enough, some states make it even tougher with “home rule,” where jurisdictions are granted the authority to pass their own, additional tax laws.

Colorado 264

Colorado Sales Tax Alaska 264

TaxConnex

JANUARY 4, 2024

No year’s ever dull in sales tax, and the pace has only accelerated in the five years since the Supreme Court’s Wayfair decision. As we start the new year, here’s a look back at some significant sales tax events from 2023. This year, multiple states introduced new sales tax exemptions, too.

Sales 264

Sales Tax Colorado South Dakota 264

TaxConnex

AUGUST 17, 2021

Sales tax is full of complexities, but there are certain topics that seem to cause more of a headache than others. Who’s responsible for the tax? One transaction between the distributor and the retailer, and a second transaction between the retailer and the end-user customer. Drop shipments are one of those topics.

South Carolina 246

South Carolina Utah Sales Illinois 246

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.

South Carolina 264

South Carolina Sales Tax Alabama 264

TaxConnex

JULY 12, 2022

There’s always something changing in the world of tax, especially sales tax. Colorado will begin imposing a 27-cent fee on every retail delivery made by motor vehicle to a destination in the state, beginning July 1. For retailers that can’t include the?required its Sales Tax Bulletin No. required statement?

Sales 246

Sales Tax Oklahoma Illinois 246

TaxConnex

OCTOBER 7, 2021

There’s always something changing in the world of tax, especially sales tax. There are currently five states with no state-level sales tax. Alaska has long heard rumblings of a statewide sales tax. First came the state’s Remote Seller Sales Tax Commission of municipalities banding together to tax sales.

West Virginia 246

West Virginia Sales Alaska Tax 246

TaxConnex

SEPTEMBER 14, 2021

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

Sales Alabama Tax Alaska 245

TaxConnex

JULY 9, 2024

Sales tax compliance has many moving parts, not just in the filing but in everything that goes into making sure you stay on the legal side of the jurisdictions where you have sales tax nexus. Billing systems You charge the customers sales tax for online purchases, they pay and you remit the money to the tax jurisdictions.

Sales 264

Sales Tax Colorado tax return 264

TaxConnex

DECEMBER 14, 2021

There’s always something changing in the world of tax, especially sales tax. Blue bayou: Sales tax won’t be getting simpler in Louisiana any time soon. Colorado voters in the city of Littleton have passed a 0.75% hike in the city's sales tax, the first increase in the tax in nearly half a century.

Sales 246

Sales Kansas Tax Iowa 246

TaxConnex

DECEMBER 27, 2022

Sales and use tax nexus is defined as a connection between a person or entity and a taxing jurisdiction. Sales tax nexus is the basis for all your sales tax decisions because without sales tax nexus you have no further obligation to a state. That is unless an exemption applies.

Sales 246

Sales Tax Non-Profits Maine 246

TaxConnex

MAY 6, 2021

There’s always something changing in the world of tax, especially sales tax. In the trendiest sales tax news (aside, of course, from Florida finally passing economic nexus legislation), Connecticut lawmakers have proposed a digital advertising services tax similar, experts say, to one recently enacted in Maryland.

Sales 246

Sales North Carolina Tax Maryland 246

TaxConnex

JULY 8, 2021

Many states use sales tax holidays to waive or reduce sales tax on various items. Location, location, location is the rule when it comes to sales tax holidays. The holidays may only cover state sales tax but not local sales taxes, as in South Carolina (which, like other states, has no price cap on eligible items).

Sales 246

Sales South Carolina E-commerce Tax 246

TaxConnex

OCTOBER 12, 2021

NOMAD and sales tax – I’m sure you’ve heard it before. When it relates to sales tax, the NOMAD states refer to the five American states without a statewide sales tax: New Hampshire, Oregon, Montana, Alaska, and Delaware. The NOMADs bear watching for changes in how they handle sales tax. But what does it mean?

Sales 245

Sales Montana Alaska Delaware 245

TaxConnex

OCTOBER 21, 2021

Sales and use tax generally applies to the sale or use of tangible personal property (TPP) and certain services. For most brick-and-mortar retail stores, sales tax is relatively simple, but what happens when you open an online store? Utilize this checklist to understand if you have any gaps with your current sales tax process.

E-commerce 246

E-commerce Sales Tax Retail 246

TaxConnex

DECEMBER 10, 2020

States may be getting tougher on sales tax delinquents as the pandemic drags on and tax revenues, in many places, take hits. area company must pay back more than $95,000 after pocketing sales tax money owed to the state, according to authorities. TaxConnex provides services to become your outsourced sales tax department.

Sales 240

Sales Tax Ohio Nebraska 240

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%. If so, watch out for 2024.

South Dakota 264

South Dakota Sales Tax Louisiana 264

TaxConnex

AUGUST 26, 2021

And here are some more numbers : E-retail totaled over $4.2 According to the National Retail Federation, non-store and online sales are expected to grow 18% to 23% this year over 2020. According to the National Retail Federation, non-store and online sales are expected to grow 18% to 23% this year over 2020. trillion in 2020.

E-commerce 246

E-commerce Sales Tax Missouri 246

TaxConnex

AUGUST 3, 2021

There’s always something changing in the world of tax, especially sales tax. States themselves don’t seem to know yet, according to a recent survey co-sponsored by the Tax Policy Center. Online sales dipped in May, yet sales tax revenues seem to remain robust thanks in part to online sales. Minnesota Gov.

Sales 246

Sales Tax New Mexico Mississippi 246

TaxConnex

NOVEMBER 11, 2021

There’s always something changing in the world of tax, especially sales tax. ZIP it: The Streamlined Sales Tax Governing Board has requested input on changing the Streamlined Agreement’s rules on sourcing sales of digital goods when purchasers don’t provide certain address details. The law takes effect on Jan.

Sales 49

Sales E-commerce Tax Illinois 49

TaxConnex

JUNE 28, 2022

Complying with your sales tax obligations involves a lot of variables – your nexus, taxability of your products, type of customer you are selling to, etc. Another key factor that effects your sales tax obligations is related to exempt transactions and exemption certificates. This is where the XYZ letter comes into play.

Sales 262

Sales Tax audit been audited 262