TaxConnex

JULY 20, 2023

Maintaining current, valid exemption certificates is critical in managing your overall sales tax risk. Under audit, an otherwise exempt sale will be deemed taxable without such documentation from a customer – and just a few missing certificates can result in large penalties and interest. Is the certificate expired?

audit 130

audit Tax Sales auditor 130

TaxConnex

MAY 27, 2021

Taking advantage of sales and use tax exemptions can save your business money and headaches. It is up to them how and what they exclude or exempt, or it may be a combination of the two. To prove a sales tax exemption, the customer must provide an exemption certificate. The most common is a resale exemption certificate.

Sales 165

Sales Tax Connecticut Idaho 165

ThomsonReuters

MAY 12, 2022

What triggers a sales tax audit and how do you reduce the risk of an audit? What is a sales tax audit? Download our free whitepaper on managing sales and use tax audits. This survival guide offers strategies and tips from former auditors on how indirect tax teams can avoid audits and minimize their effects.

audit 105

audit Sales Tax auditor 105

ThomsonReuters

DECEMBER 20, 2020

What is the difference between sales tax and value-added tax (VAT)? When buying supplies or materials that will be resold, businesses can issue resale certificates to sellers and are not liable for sales tax. What triggers the tax administration requirement? Sales tax vs. VAT overview. Who pays sales tax and VAT?

Sales 119

Sales South Dakota Tax corporation tax 119

ThomsonReuters

JULY 10, 2023

Jump to: What is sales tax? What is use tax? Sales tax vs. use tax Summary Calculating, collecting, and reporting sales tax and use tax can get complicated as a business grows, and it can be easy to confuse these two types of indirect taxes. What is sales tax?

Tax 97

Tax Sales Arizona Georgia 97

ThomsonReuters

JULY 10, 2023

Jump to: What is sales tax? Sales tax varies by state What is nexus? What is excise tax? What is VAT tax? Sales tax vs. use tax Summary Sales tax, which is a consumption tax levied on the sale of goods and services, is an important source of revenue for governments at the state and local levels.

Sales 98

Sales Tax Michigan Washington 98

ThomsonReuters

DECEMBER 20, 2020

So how do you determine if you have a sales tax obligation in multiple states? Many states have adopted the economic nexus threshold used in South Dakota: $100,000 in gross receipts or 200 transactions in-state. However, some states have imposed a higher standard, and some have chosen not to use a transaction threshold.

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South Dakota Sales Tax E-commerce 72