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The Enigma of Drop Shipments for Sales Tax Purposes

TaxConnex

Let’s say the distributor is in Arkansas and the retailer is still in South Carolina, but the customer is in Utah instead of Illinois. The distributor has nexus and is registered for sales and use tax purposes in Utah but the retailer is not registered in Utah.

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Utah Movie Producer Found Guilty of $1 Million in Tax Crimes

CPA Practice

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. Higgins for the District of Utah and Acting Special Agent in Charge Carissa Messick of the IRS Criminal Investigation (IRS-CI)’s Phoenix Field Office made the announcement.

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IRIS buys Utah-based Swipeclock

Accounting Today

based IRIS Software announced its acquisition of Swipeclock, the Utah-based maker of solutions WorkforceHub and ApplicantStack.

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Vendor concessions/discounts can help pay to outsource sales tax obligations

TaxConnex

Utah discounts local taxes as well as state. For example, Utah recently nixed a big?seller non-nexus remote sellers who voluntarily collected and paid Utah sales tax.??. Generally, the breaks are small percentages of the sales tax that you collected and remitted to the state. Nebraska’s discount is 2.5% of the first $3,000.

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State Discounts for Sales Tax

TaxConnex

example: Utah recently nixed a big seller discount for non-nexus remote sellers who voluntarily collected and paid Utah sales tax.). States hungry for revenue, during the pandemic, for instance, may remove their discounts, so take advantage now.

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Utah Accounting Firm and Dudes Who Work There Busted For ERC Fraud

Going Concern

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. The post Utah Accounting Firm and Dudes Who Work There Busted For ERC Fraud appeared first on Going Concern. Read: A federal grand jury returned an indictment on Feb.

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Transaction Thresholds: Vanishing Acts?

TaxConnex

Utah recently considered dropping its 200-transaction threshold but has tabled the legislation. South Dakota joins California, Colorado, Iowa, Louisiana, Maine, Massachusetts, North Dakota, Washington and Wisconsin in recently eliminating transaction-based nexus thresholds. Thirteen economic-nexus states never had such thresholds.)