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Sales tax and accounting services

TaxConnex

(Lobbying is a major reason that professional services generally don’t incur sales tax nationwide). South Dakota taxes accounting services and might be a model for how states could tax this service in the future. South Dakota use tax is based on where the service is used.

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How to Expand a Business to Another State

CPA Practice

Since the Supreme Court ruling on the South Dakota v. At a minimum, states can require out-of-state companies with more than 200 transactions or $100,000 in-state sales to collect and remit sales taxes to the state where the goods or services are purchased—even without a physical presence in a state. Is There Nexus?

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How to Efficiently Complete a Business Personal Property Rendition

CPA Practice

Most states tax personal property owned by businesses and require businesses to complete and file a personal property rendition every year. The exceptions to that rule are Delaware, Hawaii, Illinois, Iowa, Minnesota, New Hampshire, New Jersey, New York, North Dakota, Ohio, Pennsylvania, and South Dakota.

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Payroll Taxes Demystified: A Breakdown for Accountants and CPAs Serving Business Owners

CPA Practice

Out-of-State Employees Your business clients who hire employees in other states must register with that state’s tax department to contribute payroll and unemployment taxes. Your client will be assigned an employer tax account number for the state.

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Friday Footnotes: The IRS Has Another ERC Warning; Non-Big 4 Firms Get Dissed; Is AI Excitement Warranted? | 7.26.24

Going Concern

The multinational accounting firm promoted Carr to partner in 1999. She also founded Deloitte’s National Tax Accounting Group and helped create its Global Tax Accounting Group, which she is leading until her September retirement.

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Friday Footnotes: How Are Firms Actually Using Data Analytics?; KPMG and BDO on the Move | 9.15.23

Going Concern

Sioux Falls CPA firm marks century in business [ SiouxFalls.Business ] The fourth-generation Sioux Falls firm Nelson & Nelson CPAs celebrates 100 years in business, providing tax, accounting, payroll and bookkeeping services. Nelson & Nelson CPAs is the oldest existing accounting firm established in South Dakota.

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Business Tax Rates: How Much Do Small Businesses Pay in Taxes?

xendoo

There are also states that don’t have personal income taxes. If you are in one of the below states, you don’t have to file and pay state income taxes on earnings. Alaska Florida Nevada South Dakota Tennessee (on wages) Texas Washington (state) Wyoming Even though some states don’t have an income tax, they may have other taxes.