TaxConnex

JULY 19, 2022

Sales tax obligations are among them. Only now are federal lawmakers beginning to wonder if the current sales tax landscape overburdens online businesses. In the meantime, your business may have to start collecting and remitting states’ sales tax – with severe penalties if you don’t. South Dakota v. Wayfair, Inc.

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TaxConnex

MAY 26, 2022

However, certain exemptions could apply making the sale of TPP exempt from sales tax in some situations. The buyer wants to make the original purchase exempt from sales tax, and they expect to then charge sales tax when they sell the item. Sales tax obligations start with nexus. Assessing your footprint.

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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 New Jersey , in a move seemingly counter to a nationwide trend, has repealed its annual sales tax holiday for certain school supplies and sport or recreational equipment.

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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%. If so, watch out for 2024.

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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 South Carolina Tax 264

TaxConnex

JANUARY 3, 2023

Next summer will mark five years since the Supreme Court ignited economic sales tax nexus with the South Dakota v. Many businesses are still trying to figure out how to manage the resulting obligations, but one thing’s clear: Now every state with a sales tax has economic nexus. Wayfair, Inc et al decision. Stay tuned.

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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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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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Sales South Dakota Tax Kentucky 263

TaxConnex

JUNE 20, 2023

Almost five years ago, the Supreme Court’s Wayfair decision was heralded as a revenue gateway for almost all states to require remote sellers to collect and remit sales tax. South Dakota – center of the Supreme Court’s landmark decision in 2018 – recently eliminated its economic nexus transaction threshold.

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TaxConnex

APRIL 4, 2024

Now, almost six years after the landmark Wayfair case ignited sales tax obligations for more remote sellers, one of those numbers might be falling out of favor. Since the Supreme Court’s decision in 2018, almost all states with economic nexus opted to have dollar volume of sales as one trigger for sales tax obligations.

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TaxConnex

MARCH 6, 2025

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.

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TaxConnex

SEPTEMBER 26, 2023

The 2018 Supreme Court decision in South Dakota vs. Wayfair opened the floodgates for economic nexus throughout the U.S. 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.

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TaxConnex

JANUARY 11, 2022

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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TaxConnex

AUGUST 24, 2021

In the world of sales tax, they’re major marketplace facilitators. Marketplace facilitators are required to charge sales tax where they have nexus (the connection between a tax authority and a company). Once the US Supreme Court ruled in the South Dakota vs. Wayfair case, other states swiftly adopted economic nexus rules.

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TaxConnex

OCTOBER 13, 2020

Companies that perform services often see themselves as tax exempt, and in many cases that is true, but there are certain states andsituations in which that is not the case. Gain a better understanding of your sales and use tax obligations with these frequently asked questions we have received from businesses that provide services.

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TaxConnex

SEPTEMBER 1, 2022

This June marked 4 years since the landmark Supreme Court decision that launched economic nexus, South Dakota v. Wayfair, Inc et al , but many businesses are still trying to figure out how to manage sales tax obligations brought on by this decision. All 45 states with state-wide sales tax now have economic thresholds set.

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TaxConnex

MAY 25, 2021

Having a full understanding of your sales tax obligations is important for your peace of mind. But, like most things in sales tax, this is easier said than done. to collect sales tax because?they?reach Remote sellers who sell above those quantities in South Dakota must collect sales tax and remit it to the state.

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TaxConnex

MAY 20, 2021

We are approaching the three-year mark of the introduction of economic nexus and the South Dakota v. In order to address their expanding sales tax obligation, many businesses decided to outsource the sales tax process and chose an “automated” solution. Wayfair decision. No way you’d want to do that again.

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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

JUNE 18, 2024

In the landmark 2018 case South Dakota v. Nexus is an economic presence that triggers the obligation to collect and remit tax or at least communicate with appropriate states.) Some states are also now easing nexus thresholds even as they try to levy sales taxes on new products and ramp up “sales taxes” in other forms.

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TaxConnex

OCTOBER 15, 2020

As if understanding your nexus obligations wasn’t confusing enough, you throw in words and phrases like marketplace facilitator, TPP, tax situs and economic vs. physical nexus and even the most advanced finance professionals can be thrown for a loop. Let’s take a look at some of the terms associated with sales tax and their definitions.

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TaxConnex

DECEMBER 3, 2020

Alpharetta, GA - TaxConnex, Inc today released the results of a new survey finding that the increasing sales tax complexities, growing nexus, limited resources and additional audits are among the top worries of financial professionals in 2021. 71% of companies are not fully satisfied with their current approach to sales tax.

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South Dakota Sales Tax Finance 211

TaxConnex

MAY 5, 2022

You’re trying to run a business and sales tax is not at the forefront of your plans. Make sure you aren’t making these common mistakes to ensure you have sales tax in order and aren’t at risk for penalties and fees in the case of an audit. SaaS), you deal with one of the most complex sales tax situations today.

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Sales South Dakota Tax Hawaii 244

TaxConnex

MAY 4, 2021

But don’t forget that success that comes from selling into more states can also expand your sales tax burdens. Businesses that sell into multiple states or jurisdictions have to pay attention to sales tax thresholds, and it’s not a one-time project. connection a business has with a state or taxing jurisdiction. Physical nexus?means

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TaxConnex

JULY 6, 2021

Missouri has officially become the last state with a state-wide sales tax to enact economic nexus. Mike Parson has signed SB153 (combined with SB97) into law, allowing Missouri and local jurisdictions to collect use tax and, proponents say, help protect local brick-and-mortar businesses.?. South Dakota v. Missouri Gov.

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TaxConnex

SEPTEMBER 28, 2022

By now most businesses that sell online have heard about nexus, the connection that a company has with a jurisdiction that ignites a sales tax obligation. Companies that acknowledge their sales tax nexus still often overlook its impact and the sales tax obligations it creates. How is technology being taxed? Wayfair, Inc.

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TaxConnex

JANUARY 25, 2022

TaxConnex is excited to announce a record-breaking 2021 and reports annual organic revenue growth of 19% in 2021, proving that as sales tax becomes more complicated, businesses are continuing to look for a trusted provider to manage the burden for them. in sales tax for our clients from 2021 returns. Wayfair decision.

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South Dakota Sales Tax 246

TaxConnex

JUNE 10, 2021

Your sales tax obligations start with whether or not you have sales tax nexus. Without it, you have no obligation to collect and remit sales tax to specific taxing states or jurisdictions. Your sales tax nexus is determined by either a physical or economic presence within a taxing jurisdiction. BACKGROUND.

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TaxConnex

MAY 14, 2024

jurisdictions also involves dealing with sales tax. Responsibility to pay sales tax is based on a variety of factors, such as where the seller and buyer reside and the nature of the product being sold (some items qualify for sales tax exemptions ). On a marketplace platform, who has responsibility for the sales tax?

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TaxConnex

JANUARY 18, 2024

What’s the latest brewing today in sales tax? Physical nexus standards – such as having offices, staff or inventory in a state – had long mandated that retailers had to collect and remit a state’s sales tax. 1 and South Dakota’s took effect last July 1). Take economic nexus thresholds.

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TaxConnex

MARCH 18, 2021

Supreme Court decision in South Dakota v. Wayfair created enormous changes for businesses making remote sales into the states related to sales tax. Could Wayfair have also impacted the way you manage your state income tax obligations? Sales Tax Perspective. Sales tax nexus can be physical or economic – or both.

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income tax South Dakota Sales Tax 165

TaxConnex

NOVEMBER 17, 2020

So while you’re busy with closing out your year, hopefully on a higher note, don’t forget about your sales tax obligations or you could wind up with a big lump of coal. Here are four steps you can take now t o help you maintain sales tax compliance throughout the holiday shopping season. This year, Cyber Monday falls on Nov.

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TaxConnex

OCTOBER 29, 2020

If you’re a construction contractor – especially if you’re engaged in contracts in different states – you have to evaluate your sales tax responsibilities in each state where you have customers. So you might think you have nothing to worry about from a sales and use tax perspective. There are exceptions though.

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TaxConnex

NOVEMBER 16, 2021

The explosive growth of online sales means that state and local governments are searching for ways to recoup the tax revenue that they have determined they are owed. States are eager to take a portion of these sales and include them in their general tax revenues. In 2018, the landmark Supreme Court decision South Dakota v.

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TaxConnex

JULY 30, 2024

Sales tax isn’t simple. Here’s a step-by-step overview of various complications of sales tax compliance – and how to handle them. Then came 2018’s South Dakota vs. Wayfair , the Supreme Court decision that made “economic nexus” constitutional. Thresholds vary widely among states, and some are easing off thresholds.

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TaxConnex

JANUARY 12, 2021

Sales tax compliance is complex, there’s no doubting it. While many hoped that the Supreme Court decision in South Dakota vs. Wayfair would make things more clear, it did quite the opposite. Know if your products/services are subject to sales tax in those states where you have either physical or economic nexus.

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South Dakota Sales Tax 147

BurklandAssociates

JULY 13, 2021

Supreme Court ruling in South Dakota v. The post Sales Tax on SaaS: A Checklist & State-By-State Guide for Startups appeared first on Burkland. By now you have probably heard of the 2018 U.S. Wayfair (“Wayfair”), which granted all 50 states the ability to reach out to Read More.

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South Dakota Sales Tax 147