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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Sales Tax Rhode Island Kansas 264

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.

South Carolina 264

South Carolina Sales Tax Alabama 264

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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Sales Rhode Island South Dakota North Dakota 246

CPA Practice

JUNE 7, 2024

A federal jury convicted a Utah man on June 4, 2024, of tax evasion and forcibly retaking property that had been seized by the government to pay his outstanding tax debt. From 1999 through 2005, Cromar did not file any federal income tax returns or pay any tax. in taxes, interest and penalties.

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Utah Tax income tax tax return 95

TaxConnex

JULY 12, 2022

There’s always something changing in the world of tax, especially sales tax. 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. its Sales Tax Bulletin No. Here’s a review of some of the recent changes and updates. Indiana modified?its

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Sales Tax Oklahoma Illinois 246

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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Sales South Carolina Rhode Island Tax 203

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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South Dakota North Dakota Wisconsin Iowa 264

TaxConnex

JANUARY 25, 2024

Most states change their sales tax rate laws on either Jan. and a ton of local jurisdictions with the authority from their states to change their individual tax rates. Kentucky was the latest state to subject SaaS to sales tax, effective last year. An annual review should work. Take software-as-a-service.

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Utah Kentucky Alabama Michigan 260

Going Concern

FEBRUARY 22, 2023

TL;DR Two guys and their accounting firm are accused of filing false tax returns and a touch of COVID relief fraud. 1 charging two Utah County men and an accounting firm with claiming an excess of $11 million in tax credits through a COVID-related fraud scheme. Read: A federal grand jury returned an indictment on Feb.

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Utah accounting firms tax return accountant 105

TaxConnex

SEPTEMBER 7, 2023

Nonprofits are often thought to be exempt from sales taxes, but is that correct? Other stats say more than 2 million charities exist that are tax-exempt according to Internal Revenue Service rules. Are non-profits exempt from sales tax obligations? These same organizations are not necessarily exempt from sales tax.

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Sales Tax Non-Profits North Carolina 147

Withum

FEBRUARY 24, 2022

For the latest news and updates on Utah state and local tax. Utah Seeks to Lower Income Tax Rates and Improve the State EITC Program. On February 11, 2022, Utah’s Governor Spencer Cox signed S.B. This bill lowers the corporate and individual income tax rate to 4.85% from 4.95%. February 25, 2022. March 2020.

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Utah Tax income tax 52

TaxConnex

MAY 23, 2023

Last time we looked at a sample of the strange sales tax laws regarding food, including a sliced bagel in New York. If only that was the only complex category concerning sales tax. Diapers and groceries are taxed in Hawaii, Idaho, Utah, Kansas, Missouri, Oklahoma, Arkansas, Tennessee and Alabama, Mississippi and South Dakota.

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South Carolina South Dakota Sales Montana 130

TaxConnex

OCTOBER 27, 2022

States are like that, too: sometimes candy is considered food (groceries) for sales tax purposes, sometimes it’s not and sometimes it’s somewhere in between. In many states, for instance, liquor-filled candy – which admittedly few are going to give to kids on Halloween – can be taxed differently than regular candy. Not merely because’.

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Sales West Virginia South Dakota South Carolina 130

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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Sales Tax Rhode Island West Virginia 113

TaxConnex

SEPTEMBER 26, 2024

The exception certificate figures big in your sales tax toolbox. A sales tax exemption certificate means you, the seller, don’t have to collect and remit sales tax on certain products and services and to certain clients (such as schools, hospitals or churches) in a state. Utah was among the latest states to do this.

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Rhode Island West Virginia South Dakota North Dakota 130

TaxConnex

JANUARY 24, 2023

Shipping is indispensable to eCommerce yet sales tax on it remains a mishmash of regulations across the states. In our previous blog, we looked at how exemptions, the taxability of the item being shipped and selling into tax-free states affect sales tax on shipping.

Sales 26

Sales South Carolina Tax Massachusetts 26

CPA Practice

APRIL 5, 2024

Earlier this week WalletHub released a study that shows which states’ residents have the highest and lowest tax burden , measured as the proportion of total personal income that residents pay toward state and local taxes. The study looks at how much tax the average person is estimated to pay in each state throughout their lifetime.

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West Virginia Rhode Island South Dakota North Dakota 126

CPA Practice

AUGUST 25, 2024

Yet some states still haven’t clearly defined how sales and use tax applies to digital goods and services. To help you better understand digital products sales tax, this blog will explain: How do you define digital products for sales tax? How do you figure out sales tax on digital products by state?

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West Virginia Rhode Island South Carolina Tax 130

CPA Practice

APRIL 9, 2024

A new study by WalletHub revealed that residents of New York state are burdened by taxes the most among the 50 states, while Alaska residents have the lowest tax burden. The following are some key findings from WalletHub’s study: As previously stated, New York has the highest overall tax burden, while Alaska has the lowest.

Rhode Island 105

Rhode Island Alaska New Hampshire Tax 105

CPA Practice

APRIL 3, 2024

A new study by WalletHub revealed that residents of New York state are burdened by taxes the most among the 50 states, while Alaska residents have the lowest tax burden. The following are some key findings from WalletHub’s study: As previously stated, New York has the highest overall tax burden, while Alaska has the lowest.

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Rhode Island Alaska New Hampshire Tax 111

CPA Practice

APRIL 12, 2023

million people across the nation (state-by-state list below) have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return. billion in refunds remain unclaimed because people haven’t filed their 2019 tax returns yet. The Internal Revenue Service says that nearly 1.5 The IRS estimates almost $1.5

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Rhode Island tax return Tax West Virginia 122

PYMNTS

DECEMBER 29, 2020

Turkish prosecutors have issued a detention warrant for Turkish businessman Sezgin Baran Korkmaz, who has ties to Utah business executives who recently pleaded guilty to a $511 million tax credit scheme in the U.S., The Kingstons pleaded guilty in the tax credit scheme in the U.S., the Associated Press (AP) reported.

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Utah Tax corporate accounting Government 67

CPA Practice

JULY 28, 2023

By Gail Cole Is sales tax based on shipping address or billing address? Understanding how sales tax works is fundamental for every retailer. If you’re doing business in a state with a sales tax, you may know you need to register for sales tax, then collect and remit tax as required by law.

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Sales Retail Tax New Mexico 98

CPA Practice

APRIL 10, 2023

Still, whatever discomfort I experience when booking a room has nothing on what lodging platforms have to endure to comply with the multitude of lodging tax requirements in the United States. We talk a lot about how complicated sales tax compliance is at the Avalara Tax Desk, and it is. Sometimes you just have to go with it.

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Tax West Virginia Wisconsin Virginia 85

Going Concern

MAY 23, 2023

It appears he is wearing a hoodie from Deer Valley Ski Resort in Park City, Utah. See Australian Financial Review for actual news about Seymour’s exit from PwC and the firm’s tax leak scandal. If anyone would care to analyze the photo, knock yourself out. And before you ask, yes it is a slow news day.

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Utah Tax 105

CPA Practice

JULY 8, 2024

Among other findings of the survey: “Keeping up with changes and complexity of tax laws” is a significant issue for sole practitioners through midsize firms. Sid Kess Award for Excellence in Continuing Education The Sid Kess Award for Excellence in Continuing Education was presented to Tony Nitti, CPA, MST, a National Tax Partner at EY.

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cpas North Carolina Illinois Texas 122

PYMNTS

DECEMBER 21, 2020

Founded in 2013 in Salt Lake City, Utah, Acima operates in over 15,000 retail partner locations and eCommerce platforms. About $225 million in adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) is expected for 2020. . The transaction is expected to close in the first half of 2021. . billion in 2020.

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Utah Retail Tax 105

CPA Practice

JULY 18, 2023

If you’re part of that rising tide, you need to know how to tax shipping and delivery charges. Charges for a company to deliver goods in its own vehicle are often taxed differently than charges for delivery by common carrier or private carrier. or “Is there sales tax on U.S. What follows are general guidelines, not tax advice.

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Sales Retail Tax West Virginia 98

CPA Practice

DECEMBER 19, 2023

Incorporating at the End of the Year The primary advantage of incorporating before the end of the year is your clients can then take advantage of the tax benefits owning a corporation offers, including writing off the costs of incorporating on this year’s taxes.

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Rhode Island West Virginia South Dakota North Dakota 116

CPA Practice

JULY 25, 2024

Plus, they also have a really great tax resolution platform. That works well for, for tax firms in particular, you know, it is, you know, the the name of the name of the product actually was for many years canopy tax. And so they are honed in very tightly on tax practitioners. But that’s almost a topic for another day.

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Technology Tax accountant Account 111

ThomsonReuters

JULY 14, 2022

Utah 2022). The post Court Denies Remedies for Mental Health Parity Violation appeared first on Tax & Accounting Blog Posts by Thomson Reuters. Premera Blue Cross, 2022 WL 2208927 (D. Available at [link]. Contributing Editors: EBIA Staff.

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Utah Tax accountant Account 97

ThomsonReuters

APRIL 25, 2024

Navigating state taxes on retirement income is a critical aspect of financial planning for retirees. While federal tax rules apply uniformly across the country, state tax rules can vary widely. Jump to: • State tax on retirement income • Which states do not tax retirement income?

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South Dakota Rhode Island New Hampshire Wyoming 52

CPA Practice

OCTOBER 22, 2024

In this white paper, we break down the key federal payroll laws, explore important compliance insights, highlight the role of technology, and provide practical tips for maintaining compliance. federal payroll compliance is an ongoing process that requires vigilance and dedication.

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payroll Rhode Island West Virginia South Dakota 52

LyfeAccounting

JUNE 25, 2021

US taxpayers pay over $1 trillion in state income taxes every year. But what if you could pay $0 in state taxes? You can pay absolutely nothing in state taxes, just by packing up your bags and moving to a tax-free state. What are State Taxes? But wait a minute… how are states funding things without state taxes?

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income tax South Dakota Tax Alaska 52

CPA Practice

APRIL 19, 2024

But running a marketplace also brings unique tax and compliance challenges. Our 2024 Avalara Tax Changes report explores new and changing requirements for marketplace facilitators and sellers across a variety of industries. They all face different tax compliance obligations and challenges. Read the report now.

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Tax Wyoming Alaska Louisiana 59

CPA Practice

JANUARY 30, 2024

A team of students from University of Nebraska , Lincoln, claimed victory at the Deloitte FanTAXtic national case study competition by presenting the best analysis on a complex, issues-driven business tax case. Each of the 16 teams participating in the national competition won the Deloitte FanTAXtic contest in their respective U.S.

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Nebraska Florida Mississippi Utah 72

CPA Practice

SEPTEMBER 25, 2023

TAG Alliances Welcomes Ray Polantz of Cohen & Company as New Advisory Board Member TAG Alliances, a leading multidisciplinary alliance of independent professional services firms, recently appointed Raymond Polantz, Tax Partner at Cohen & Company as its newest Advisory Board member.

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New Hampshire Massachusetts CPA Maine 105