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Virginia Pass-Through Entity Tax Updates

Cherry Bekaert

In the most recent episode of Cherry Bekaert’s Tax Services podcast, we focus on the Virginia pass-through entity tax (PTET) election. Join Cathie Shaw , partner at Cherry Bekaert, and Tony Konkol , State and Local Tax Manager, as they navigate the intricacies of this important topic.

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Services: Taxable or not?

TaxConnex

Figuring out sales tax obligations for goods (aka, tangible personal property, or TPP) is the less-hard part; you merely have to bear in mind that every state that taxes TPP does it a little differently. Services, on the other hand, are the hard calculation. What’s a service? States also tax services with nuance.

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Enrolled Agent Near Me: Comprehensive Tax Services for Individuals and Businesses

MyIRSRelief

Enrolled Agent: Comprehensive Tax Services for Individuals and Businesses When it comes to managing your taxes, finding a qualified and reliable tax professional is crucial. An Enrolled Agent (EA) is a federally-authorized tax practitioner who has technical expertise in the field of taxation and is empowered by the U.S.

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Sales Tax on Shipping: When Does it Apply?

TaxConnex

Stating the shipping cost separately on the invoice affects its taxability in Alabama, Arizona, Illinois, Iowa, Maryland, Oklahoma, Utah, Virginia and Wyoming. Before you put that shipping, handling or delivery charge and the total sales tax on your invoice, do your homework on the state you’re shipping to.

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The latest on sales tax on shipping charges (part 1)

TaxConnex

When items in a shipment are exempt from sales tax in a given state, so is the cost of shipping. Connecticut, Georgia, Michigan, North Dakota, South Carolina, Tennessee, Texas, Vermont, Washington, West Virginia and Wisconsin follow this rule.

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Fundamentals of Co-op Taxation — A “Must Watch” NSAC Webinar, 4/19/23

Nancy McClelland, LLC

To operate on a cooperative basis for tax purposes, a company must meet specific tax rules in Subchapter T of the Internal Revenue Code. Currently she is serving as a board advisor to Wine Service Cooperative in Napa, California, and as a Finance Committee member for Davis Food Cooperative in Davis, California.

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The latest on sales tax on shipping charges (part 2)

TaxConnex

Separately stated charges for delivery to the buyer are generally exempt in Virginia and exempt in Oklahoma, Utah, Wyoming. Separately stated delivery charges by a third-party shipper are also exempt from Texas sales tax when provided at the customer’s request. Ditto Idaho, except fees for shipping goods to the retailer are not exempt.

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