Accounting Today

JULY 19, 2024

You need to be on your toes if you work in sales tax, as states are known to make substantial sales tax policy changes with little to no notice. Vermont, North Carolina, New Jersey and Ohio provide standout examples this summer.

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North Carolina Vermont Sales New Jersey 101

TaxConnex

NOVEMBER 2, 2021

You won’t find too many more confusing sales tax scenarios than the one involving dietary supplements. For purposes of sales tax, sometimes supplements and vitamins are considered drugs (prescription or not), sometimes groceries or food, sometimes tangible personal property – and sometimes not. Sales tax isn’t getting any easier.

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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

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Sales Tax Wisconsin Vermont 246

TaxConnex

OCTOBER 5, 2021

Soon after you start dealing with states’ sales tax, you’re going to also run into another term: excise tax. What is excise tax? And is it different from sales tax? A different kind of tax pie. Federal, state, and local governments can all impose excise taxes. Calculating and Charging.

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Sales Tax South Carolina Hawaii 246

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

TaxConnex

FEBRUARY 23, 2023

All hail sales tax! Taxing certain goods dates back as far as 4,000 years. Ancient Egypt taxed cooking oil, for instance. The tax was levied on a product people had to buy and were forbidden to reuse (coincidentally, the Pharaoh had a monopoly on production). Salestaxes are no exception.

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West Virginia Sales Rhode Island Tax 130

TaxConnex

MAY 2, 2023

Mike Dunleavy is reportedly preparing to introduce a sales tax as part of a long-term budget plan for the state. Five states don’t have a statewide sales tax: New Hampshire, Oregon, Montana, Alaska and Delaware (aka the “NOMAD” states). Vermont was the last state to adopt a sales tax, in 1969.

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Alaska Sales Tax New Hampshire 130

Going Concern

AUGUST 14, 2024

We have no way of knowing if Heier Weisbrot & Bernstein, LLC has a tax return backlog. In this case, an unauthorized someone or someones got into HW&B’s tax software and attempted to file fraudulent tax returns. The fraudulent returns were identified and reported to the IRS to be remedied.

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tax return Tax Vermont New Jersey 112

TaxConnex

JANUARY 17, 2023

Online sales could not exist without shipping, and the charges associated with shipping are subject to sales tax in many states. Question is, who has to pay that sales tax these days, and where? For sales tax purposes, you’ll see reference to “shipping,” “shipping and handling” (Arizona taxes these two, for instance) and “delivery”.

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Rhode Island West Virginia Sales Alaska 130

TaxConnex

AUGUST 17, 2023

When it comes to sales tax, “manufacturing” is often defined as a physical application of materials and labor to change the characteristics of tangible personal property (TPP). Seems clear, but what about your tax obligations and exemptions? Different states can treat consumables differently for sales tax purposes.

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Manufacturing Sales Tax Vermont 130

TaxConnex

OCTOBER 18, 2022

Our Halloween-month look at tricky items for sales tax continues here with a few items it’s hard to live without…. Some states (of course) have special sales tax rules for clothing. Minnesota, Pennsylvania, Vermont and Rhode Island and New Jersey do just the opposite for protective and some other specialized clothing.

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Rhode Island Sales Tax South Carolina 130

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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CPA Practice

OCTOBER 16, 2024

But I think figuring out whether and how to charge sales tax on candy is even more frightening. With that kind of sales volume, it’s imperative for retailers to get the sales tax on candy right — and it’s not easy. With that kind of sales volume, it’s imperative for retailers to get the sales tax on candy right — and it’s not easy.

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Retail Tax Washington Vermont 119

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. Get in touch to learn more.

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CPA Practice

NOVEMBER 4, 2024

Document Management software is a valuable solution for the organization as you prepare for tax season. Download the guide to ensure you are ready for next tax season. It finds the documents you need in seconds, and creates a bespoke, secure database for your firm.

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CPA Practice

OCTOBER 27, 2023

The Internal Revenue Service is reminding employers that the best way to file their next quarterly payroll tax return by the Oct. Two options to electronically file payroll tax returns The first option for employers is to self-file by purchasing IRS-approved software that meets their specific needs. 31 payroll tax deadline.

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payroll tax payroll South Carolina Tax 105

CPA Practice

SEPTEMBER 9, 2024

The deadline for taxpayers to submit their third quarter estimated tax payment is one week from today. However, individuals and businesses affected by disasters in 17 states, Puerto Rico, and the Virgin Islands may automatically qualify for a delayed tax-payment deadline, the IRS said last week.

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West Virginia South Dakota South Carolina Tax 95

Withum

FEBRUARY 27, 2024

When it comes to sports betting, taxes play a crucial role in shaping the industry. Each state has its own approach to taxing sports betting revenue for operators, resulting in a diverse landscape. The state levies a tax rate of 36% on sports betting revenue. Vermont: Legal sports betting went live in January 2024 in Vermont.

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Sports Delaware Vermont Tennessee 59

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.

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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

ThomsonReuters

SEPTEMBER 19, 2023

Earlier this summer, Kentucky, North Carolina, and Vermont all enacted laws that legalize and tax sports wagering activities. percent tax rate is imposed on the adjusted gross revenue from sports wagers placed at a licensed track and a 14.25 Similar efforts in Texas, Missouri, and Georgia failed to garner enough support.

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Sports North Carolina Vermont Missouri 52

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 2, 2023

October 16 is this year’s deadline for taxpayers who requested additional time to file their taxes. However, taxes expected to be owed were required to be owed by the original April 18, 2023, deadline. Those affected by flooding in Vermont. 24, 2024, to file various individual and business tax returns. 31, 2023, to file.

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South Carolina Tax Georgia income tax 124

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

AUGUST 14, 2024

By Sean McDonnell cleveland.com (TNS) DraftKings will not be charging winners extra fees in “high tax states” after all, the company announced Tuesday. The sports-betting company announced that it would scrap its plan to add a “gaming tax surcharge” to winning bets in 2025. A tax surcharge in early 2025 isn’t even on our radar. “A

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Gambling Ohio Sports Tax 52

TaxConnex

MAY 11, 2023

A state has not added a statewide sales tax since Richard Nixon was in the White House. Vermont was the last to due so in 1969. There are five remaining states with no state level sales tax: New Hampshire, Oregon, Montana, Alaska and Delaware – often referred to as the NOMAD states. There are excise taxes on certain services.

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Montana Alaska New Hampshire Oregon 130

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

CPA Practice

OCTOBER 23, 2024

Email (Required) Number of Employees at Your Firm (Required) Number of Employees at Your Firm Sole Proprietor 2 To 4 5 To 9 10 To 19 20 To 49 50 Or More Full Name (Required) State / Province (Required) State / Province Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas (..)

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Rhode Island West Virginia South Dakota North Dakota 52

Withum

MAY 21, 2021

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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

CPA Practice

OCTOBER 30, 2024

million – $4,999,999 $5 million – $10,000,000 Over $10 million What software or tools are you using to manage your engagements, or how does your team currently manage client engagements and reporting processes?

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Rhode Island West Virginia South Dakota North Dakota 52

CPA Practice

OCTOBER 16, 2023

October 16 is this year’s deadline for taxpayers who requested additional time to file their taxes. However, taxes expected to be owed were required to be owed by the original April 18, 2023, deadline. Those affected by flooding in Vermont. 24, 2024, to file various individual and business tax returns. 31, 2023, to file.

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South Carolina Georgia income tax Vermont 111

LyfeAccounting

JULY 14, 2021

Your physical address might result in you paying significantly more in property taxes than someone else. And as millions of Americans rush from one state to another, one thing you just have to keep in mind is property taxes. That’s why in this post, we’re going to uncover the states with the worst property taxes in the country.

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Rhode Island New Hampshire Vermont Wisconsin 52

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

OCTOBER 18, 2023

One crucial factor to consider when selecting your business location is the tax environment. Business taxes can significantly impact your bottom line and overall profitability. The importance of business taxes As an entrepreneur, you face countless decisions when starting a business.

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business tax Tax Alaska South Dakota 59

CPA Practice

SEPTEMBER 20, 2024

million – $4,999,999 $5 million – $10,000,000 Over $10 million What is the biggest document challenge your firm faces? million – $4,999,999 $5 million – $10,000,000 Over $10 million What is the biggest document challenge your firm faces?

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Rhode Island West Virginia South Dakota North Dakota 52

CPA Practice

AUGUST 26, 2024

million – $4,999,999 $5 million – $10,000,000 Over $10 million How many clients does your firm serve? million – $4,999,999 $5 million – $10,000,000 Over $10 million How many clients does your firm serve? million – $4,999,999 $5 million – $10,000,000 Over $10 million How many clients does your firm serve?

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Rhode Island West Virginia South Dakota North Dakota 52