Accounting Today

DECEMBER 22, 2023

The IRS is pushing back filing and payment deadlines for storm and tornado victims in the Volunteer State.

Tennessee 126

Tennessee Tax 126

CPA Practice

AUGUST 23, 2023

The mission of the Tennessee Society of CPAs is to drive the success of its members and the communities they serve through connections, professional development, and advocacy. TSCPA is the premier professional association for CPAs in Tennessee,” said Kara Fitzgerald, CPA, President/CEO of TSCPA.

Tennessee 75

Tennessee cpas CPA Education 75

TaxConnex

MARCH 6, 2025

States that still tax groceries at either full or reduced rates include Alabama, Arkansas, Hawaii, Idaho, Illinois, Kansas, Mississippi, Missouri, South Dakota, Tennessee and Utah.

Sales 130

Sales Tax South Dakota Mississippi 130

TaxConnex

OCTOBER 7, 2021

Tennessee has become yet another state to beat expected tax revenues. The growth rate for all Tennessee taxes in August was 22.11 This proposal is still in the early stages but stay tuned. State revenue updates. August revenues were $1.4 billion, $255.8 million more than August 2020 and $267.9 million more than budgeted estimates.

West Virginia 246

West Virginia Sales Alaska Tax 246

Going Concern

JANUARY 22, 2025

The US Attorney’s Office of Middle District of Tennessee put out this press release the other day, just your everyday average fraud accusation. JBS had office locations in Fairview and Nashville, Tennessee. JBS was a sole proprietorship, and Jerkins controlled its bank accounts. It is currently active until 2026.

Tennessee 59

Tennessee CPA bookkeeping payroll 59

TaxConnex

APRIL 9, 2024

Vitamins and supplements can be caught up – or excluded – as states continue to change how they levy sales tax on food and groceries: One recent sales tax holiday in Tennessee omitted dietary supplements (along with pet food, alcoholic beverages, candy and any food sold warm).

Sales 264

Sales West Virginia Tax Virginia 264

TaxConnex

NOVEMBER 3, 2020

The Tennessee Department of Revenue has added three FAQs to its website discussing the taxability of pre-recorded videos of online courses. A pre-recorded video of a previously livestreamed online course that is accessed by subscribers or consumers in Tennessee is subject to sales tax as the sale of access to a specified digital product.

Sales 246

Sales Tax Wisconsin Vermont 246

TaxConnex

JULY 8, 2021

Another new Tennessee holiday, for instance, runs from July 1 through June of next year and eliminates sales tax on purchases of such items as gun safes and gun safety devices. exempt firearms, ammunition, and hunting supplies from sales tax. Some sales tax holidays last only a few days, others a week. Massachusetts Gov.

Sales 246

Sales South Carolina E-commerce Tax 246

TaxConnex

AUGUST 22, 2024

Meanwhile, the Tennessee Works Tax Act kicked in on July 1 as the state adopted Streamlined Sales Tax sourcing rules for a retail sale of a product from outside of Tennessee into the state. Generally, if the goods move outside of Tennessee during the lease period, the recurring periodic payments are considered exempt interstate sales.

Sales 147

Sales Tennessee Illinois Tax 147

TaxConnex

FEBRUARY 8, 2024

Among other reasons for rate changes: Speaking of political tax breaks, exempting groceries from sales tax continues to be popular ( Kansas and Tennessee are among the latest states to greenlight such exemptions).

Sales 263

Sales South Dakota Tax Kentucky 263

PYMNTS

JULY 6, 2020

Tennessee Titans season ticket members will be able to choose to not be a part of this year’s season and put existing payments toward next year’s season or secure a reimbursement for the amount they’ve paid for this year’s tickets, among options to be presented to fans, according to a statement.

Tennessee 58

Tennessee Sports Healthcare Government 58

TaxConnex

SEPTEMBER 17, 2020

Tennessee will lower its nexus threshold on Oct. Online sales accounted for $166,000 in online sales tax in June. In Oklahoma , “a small increase” online sales helped partially offset a 4.6% slide in the state’s sales tax receipts in August compared with the same month a year ago.

Oklahoma 244

Oklahoma Texas Kansas Tennessee 244

CPA Practice

AUGUST 6, 2024

The Tennessee Society of Certified Public Accountants (TSCPA) honored its top members in six different categories at its 93rd Annual Meeting and Convention held in Kingsport, Tennessee, on June 11-13, 2024. The award is given in two categories, Experienced Leaders and Emerging Leaders.

CPA 111

CPA Tennessee South Carolina cpas 111

Going Concern

SEPTEMBER 21, 2023

The alert, which was shared by both TDCI and the Tennessee Board of Accountancy, advises clients how to proceed now that JD Frost & Company/Croft & Frost/Dumpster Fire PLLC is no more. Frost, we encourage you to file a complaint with the Tennessee State Board of Accountancy at core.tn.gov.

Tennessee 111

Tennessee cpa firm accountant Account 111

TaxConnex

MAY 7, 2024

Tennessee tax revenues exceeded estimates in March. The DOR examined whether the charges for digital textbooks are taxable as “communication services,” determining finally that students who purchase the digital textbooks are given an access code, which makes available only the digital textbook that they have purchased or rented. billion, $55.1

Rhode Island 264

Rhode Island Sales Tax South Carolina 264

Accounting Today

SEPTEMBER 4, 2024

The Massachusetts Society of CPAs teamed up with the Indiana Society of CPAs, the Tennessee Society of CPAs and CPA Crossings to highlight the competencies deemed essential for aspiring CFOs.

CPA 116

CPA Tennessee Indiana cpas 116

TaxConnex

APRIL 12, 2022

Tennessee has ruled that industry machinery used in quarries where raw materials are mined is exempt from sales and use taxes. is proposing an exemption from gross receipts tax for sales of “enterprise information technology equipment” and software exceeding $2 million used in South Dakota data centers.

South Dakota 246

South Dakota Sales Tax North Carolina 246

MyIRSRelief

MAY 24, 2023

IRS Help for individual & business taxpayers in: New York City, New York Los Angeles, California Chicago, Illinois Houston, Texas Phoenix, Arizona Philadelphia, Pennsylvania San Antonio, Texas San Diego, California Dallas, Texas San Jose, California Austin, Texas Indianapolis, Indiana Jacksonville, Florida San Francisco, California Columbus, Ohio (..)

North Carolina 147

North Carolina Oklahoma Ohio Texas 147

TaxConnex

JANUARY 27, 2022

Arkansas, Kansas, Pennsylvania, Tennessee, Texas and Florida were the latest states to report sales tax revenue shattering predictions. It’s estimated that within 20 years, 95% of all purchases will be through e-commerce. Domestically, that’s turned into a lot of tax revenue. Local jurisdictions from Geneva, N.Y., to Santa Barbara, Calif.,

Sales 242

Sales E-commerce Tax Florida 242

CPA Practice

JANUARY 17, 2023

Tennessee: The Tennessee Society of CPAs (TSCPA) recently released its Updated Fiscal Year 2021 Tennessee Tax Credit Report which provides a detailed list of all credits claimed for tax periods July 1, 2020 to June 30, 2021. Shapiro’s first budget proposal.

CPA 124

CPA Pennsylvania Tennessee Nevada 124

TaxConnex

MAY 23, 2023

Diapers and groceries are taxed in Hawaii, Idaho, Utah, Kansas, Missouri, Oklahoma, Arkansas, Tennessee and Alabama, Mississippi and South Dakota. California, Idaho, South Carolina, Tennessee and Virginia exempt clothing sales for some nonprofits. Playing dress-up Clothing is taxable in most states and the District of Columbia.

South Carolina 130

South Carolina South Dakota Sales Montana 130

Cherry Bekaert

APRIL 22, 2024

However, all job creation incentives typically require: 1) A minimum net job increase 2) Maintained jobs 3) Operations in certain industries or activities Jobs Tax Credits may be claimed on a retroactive basis in Georgia, South Carolina, Mississippi, Tennessee and Virginia in any open tax years.

South Carolina 105

South Carolina North Carolina Mississippi Georgia 105

CPA Practice

OCTOBER 1, 2024

The IRS on Tuesday announced disaster tax relief for all individuals and businesses affected by Hurricane Helene, including the entire states of Alabama, Georgia, North Carolina, and South Carolina, as well as parts of Florida, Tennessee, and Virginia. 26 in Tennessee. 22, 2024, in Alabama; Sept. 23 in Florida; Sept.

South Carolina 130

South Carolina North Carolina Tax Alabama 130

TaxConnex

APRIL 6, 2021

Tennessee finance leaders might have overpredicted COVID’s impact on the state’s revenue: February tax collections were 11% higher than the same month in 2020, just before the pandemic disrupted the economy. All transactions that are exempt from sales tax are also exempt from use tax. Additional situations are exempt from use tax.

West Virginia 147

West Virginia Sales Nebraska Alaska 147

CPA Practice

SEPTEMBER 13, 2024

The Tennessee Society of CPAs (TSCPA) is pleased to award $280,000 in scholarships through the TSCPA Educational & Memorial Foundation to 128 Tennessee accounting students. State CPA Society News & Updates is a selection of recent announcements and initiatives by CPA associations in the United States and its territories.

CPA 113

CPA Pennsylvania Tennessee cpas 113

CPA Practice

OCTOBER 10, 2024

3 that was attended by members from the Georgia Society of CPAs, North Carolina Association of CPAs, South Carolina Association of CPAs, Tennessee Society of CPAs, and the Virginia Society of CPAs on disaster recovery. Tennessee Society of CPAs TSCPA is providing news and resources to its members on a disaster assistance/recovery webpage.

North Carolina 116

North Carolina South Carolina Tennessee Georgia 116

TaxConnex

NOVEMBER 11, 2021

Tennessee has posted a sales tax letter ruling that an online cloud-based platform’s charges to commercial freight transportation brokers and carriers were not subject to sales tax. Left unclear was the reg’s effective date and whether the state will seek to apply it retroactively.

Sales 49

Sales E-commerce Tax Illinois 49

PYMNTS

APRIL 16, 2020

Students at the University of Tennessee, Knoxville, are receiving over $15 million in refunds following the move to internet classes, the Knoxville News Sentinel reported. When we can do that for less cost, we believe returning money to our clients is the right thing to do, especially during challenging times.”.

Tennessee 56

Tennessee 56

TaxConnex

MARCH 21, 2024

The Foundation found that the five states with the highest average combined state and local sales tax rates are Louisiana (9.56%), Tennessee (9.55%), Arkansas (9.45%), Washington (9.38%) and Alabama (9.29%).

South Carolina 264

South Carolina Sales Tax Alabama 264

TaxConnex

OCTOBER 18, 2022

California, Idaho and Tennessee exempt only clothing sales for some nonprofits, for example. States like Kansas and Tennessee are among the latest to pass such exemptions. Our Halloween-month look at tricky items for sales tax continues here with a few items it’s hard to live without….

Rhode Island 130

Rhode Island Sales South Carolina Tax 130

TaxConnex

JULY 15, 2021

Tennessee now has two more sales tax holidays in 2021, in addition to the traditional sales tax holiday on clothing, school supplies and computers. North Carolina revenue collections for the year ending June 30 will be $1.9 billion more than once anticipated.

Sales 219

Sales Tax Louisiana North Carolina 219

TaxConnex

AUGUST 2, 2022

Tennessee also has a holiday on gun safes and safety devices that runs all the way to June 30, 2023. Tennessee will also have a sales tax holiday the entire month of August on food and food ingredients (not including alcoholic beverages, tobacco, candy, dietary supplements and prepared food).

Sales 130

Sales West Virginia South Carolina Tax 130

TaxConnex

OCTOBER 3, 2023

Highs and lows: According to The Tax Foundation’s most recent analysis , the five states with the highest average combined state and local sales tax rates are Tennessee (9.548%), Louisiana (9.547%), Arkansas (9.44%), Washington (9.4%) and Alabama (9.24%). billion for August, $39.4 million less than estimated and $1.7

Sales 147

Sales Louisiana Tax Tennessee 147

MyIRSRelief

MAY 24, 2023

IRS Help for individual & business taxpayers in: New York City, New York Los Angeles, California Chicago, Illinois Houston, Texas Phoenix, Arizona Philadelphia, Pennsylvania San Antonio, Texas San Diego, California Dallas, Texas San Jose, California Austin, Texas Indianapolis, Indiana Jacksonville, Florida San Francisco, California Columbus, Ohio (..)

North Carolina 130

North Carolina Oklahoma Ohio Texas 130

TaxConnex

MAY 14, 2024

Among other details and typical of many of these platforms, vendors with a physical presence in a state where Etsy collects and remits state sales tax do not have to remit any tax collected on sales; the platform remits the money for the vendor.

Sales 203

Sales South Carolina Rhode Island Tax 203

TaxConnex

JUNE 27, 2024

Oklahoma has clarified the definition of “prepared food” and added definitions for “bottled water” and “food sold with eating utensils provided by the seller” for its sales tax exemption. The state’s magazine and book distribution exemption is discontinued.

Sales 147

Sales Tax Tennessee Colorado 147

CPA Practice

MARCH 21, 2023

Consider Memphis, Tennessee. The state of Tennessee doesn’t tax earned income. That’s especially true with slowing wage gains and nearly two years of persistent inflation. So, where should you live if you want to maximize your salary? SmartAsset, a consumer-focused financial information provider, analyzed 76 of the largest U.S.

Tennessee 116

Tennessee Texas Florida Transportation 116