TaxConnex

JANUARY 3, 2023

Next summer will mark five years since the Supreme Court ignited economic sales tax nexus with the South Dakota v. Many businesses are still trying to figure out how to manage the resulting obligations, but one thing’s clear: Now every state with a sales tax has economic nexus. Wayfair, Inc et al decision. Stay tuned.

South Dakota 194

South Dakota Sales Alaska Tax 194

Cherry Bekaert

SEPTEMBER 21, 2023

Colorado The Colorado Department of Revenue (DOR) recently created an informational section on its website specifically for the state’s pass-through entity (PTE) Tax election. Starting in 2023, an electing partnership’s Minnesota PTE Tax is computed on the total distributive income of Minnesota resident partners.

Minnesota 101

Minnesota Nebraska Mississippi Oregon 101

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.

Alaska 130

Alaska Sales Tax New Hampshire 130

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”.

Rhode Island 130

Rhode Island West Virginia Alaska North Dakota 130

TaxConnex

MAY 4, 2023

Many tech companies consider themselves service providers, exempt from sales and use tax. In these cases, IP addresses have been used for sales tax in certain situations because it can be mapped to a physical address. the Foundation asked that same year in its piece, “States Consider Digital Taxes Amidst Conflicting Rationales.” “Or

Sales 130

Sales Tax Maryland Oregon 130

CTP

MAY 8, 2024

The Tax Cuts and Jobs Acts (TCJA) of 2018 stirred up mixed responses by introducing a $10,000 cap on state and local tax (SALT) deductions for individual taxpayers. As of today, 19 states have enacted pass-through entity taxes. Prior to TCJA, many states did not have a PTE tax or the tax rate was much lower.

Rhode Island 52

Rhode Island Tax South Carolina Connecticut 52

TaxConnex

JUNE 6, 2023

It also offers complex sales tax obligations you may not know about. If you sell in Europe, you know about the value-added tax (VAT) on online sales, which is applied at each stage of the supply chain and with rates generally applied at a country level and exceptions on certain products. has taxes on sales too – a lot of them.

Sales 130

Sales Tax South Dakota Alaska 130

TaxConnex

MAY 11, 2023

A state has not added a statewide sales tax since Richard Nixon was in the White House. 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.

Montana 130

Montana Alaska New Hampshire Oregon 130

CPA Practice

APRIL 22, 2024

The analysis accounts for average federal income taxes and withholdings for Social Security and Medicare, as well as state and local taxes. In Alabama, the analysis showed you will bring home just under 69% of your salary, after taxes. That means you’d need to earn $145,515 a year to bring home $100,000.

South Dakota 116

South Dakota Alabama New Hampshire Wyoming 116

CPA Practice

APRIL 9, 2024

As accountants and CPAs, dealing with payroll taxes is essential to managing finances for your business clients. Understanding the details of payroll taxes helps you better assist your clients in fulfilling their obligations and maximizing tax efficiency. Social Security Tax : Employers and employees each contribute 6.2%

payroll tax 110

payroll tax West Virginia payroll cpas 110

Katz,Sapper&Miller

JULY 24, 2019

Oregon Gov. 3427 into law, imposing a new gross receipts tax effective for tax years beginning on or after Jan. Kate Brown recently signed H.B.

Oregon 41

Oregon Tax income tax 41

TaxConnex

FEBRUARY 9, 2021

If you sell into the handful of states that don’t have nexus or don’t have a general sales tax, you might think you’re home free when it comes to obligations to remit sales tax. Forty-five states and the District of Columbia have a statewide sales tax. Alaska, Delaware, Montana, New Hampshire and Oregon do not.

Sales 142

Sales Delaware Alaska Montana 142

CPA Practice

AUGUST 21, 2023

By Joy Taylor, Kiplinger Consumer News Service (TNS) Businesses that sell marijuana have a heavy federal income tax burden. They are taxed on their income but can’t write off most of their business expenses. Here is the main federal income tax implication. Legal marijuana businesses are an enforcement priority of the IRS.

income tax 98

income tax Tax tax return Oregon 98

CPA Practice

OCTOBER 11, 2023

And while fees aren’t exactly sales and use taxes, they do greatly increase compliance complexity for indirect tax teams. So far this year, states including Maryland, Maine, Oregon, Colorado and California have enacted legislation that attaches new environmental fees to plastic, paper, glass and metallic packaging materials.

Minnesota 109

Minnesota Tax Colorado Oregon 109

Katz,Sapper&Miller

AUGUST 26, 2019

Oregon’s recently established Corporate Activity Tax (CAT) was amended July 23 when Gov. The CAT, effective for tax years beginning on or after January 1, 2020, is based on Oregon gross receipts and provides taxpayers a 35% subtraction based on the greater of compensation or cost inputs. Kate Brown signed H.B.

Oregon 40

Oregon Tax 40

MyIRSRelief

MAY 24, 2023

The notice will state the amount of tax due, as well as interest and penalties. The notice will also include the following information: The amount of tax due The amount of interest and penalties The due date for payment Instructions on how to pay What do I need to do if I receive an IRS CP14 notice? What is an IRS CP14 notice?

North Carolina 147

North Carolina Oklahoma Ohio Tax 147

TaxConnex

DECEMBER 1, 2022

There’s always something changing in the world of tax, especially sales tax. An Arizona business challenging Louisiana’s remote seller sales tax structure is appealing to the U.S. The five worst states for business based on sales tax are Alabama, Washington, Louisiana, California and Tennessee. Back to court.

Sales 130

Sales Tax Alaska Louisiana 130

MyIRSRelief

MAY 24, 2023

The notice will state the amount of tax due, as well as interest and penalties. The notice will also include the following information: The amount of tax due The amount of interest and penalties The due date for payment Instructions on how to pay What do I need to do if I receive an IRS CP14 notice? What is an IRS CP14 notice?

North Carolina 130

North Carolina Oklahoma Ohio Tax 130

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?

South Dakota 52

South Dakota Rhode Island New Hampshire Wyoming 52

CPA Practice

OCTOBER 4, 2023

Supreme Court has agreed to take up a lower court decision on taxation ( Moore v United States ) that could open or slam the door on a federal wealth tax, it’s worth a deep dive into just how terrible a wealth tax would be for American taxpayers. Second, no matter how it’s positioned, a wealth tax is not based on objective facts.

Tax 105

Tax income tax Hawaii Oklahoma 105

CPA Practice

FEBRUARY 24, 2023

Tax season is already in full swing and accounting firms across the country are working non-stop to meet the April filing deadline. Firms often don’t have a sufficient year-round client base to support the staffing levels they need during tax season. By Matt Bowen. The industry’s extreme seasonality can significantly hinder growth.

accounting firms 128

accounting firms Tax Account accountant 128

Patriot Software

DECEMBER 28, 2020

Attention Oregon employers! Specifically, attention employers in Eugene, Oregon. A new type of payroll tax is coming your way in 2021. Learn all about the Eugene Community Safety Payroll tax and whether or not you need to withhold and remit it to the city. What is the Eugene Community Safety Payroll Tax?

payroll tax 86

payroll tax payroll Oregon Tax 86

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

inDinero Tax Tips

APRIL 11, 2023

Incorporation is a critical legal matter that impacts more than your company’s tax responsibilities for doing business. Delaware is considered “the place” to establish your corporate entity as there’s no Delaware sales tax. Delaware is considered “the place” to establish your corporate entity as there’s no Delaware sales tax.

Delaware 52

Delaware Nevada Tax Sales 52

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

Rhode Island 122

Rhode Island tax return Tax West Virginia 122

CPA Practice

MAY 1, 2023

More small businesses across the country are taking advantage of new tax credits to offer 401(k) programs , according to a report from the Wall Street Journal. The new tax credits are widely available now thanks to the Setting Every Community Up for Retirement Enhancement (Secure) Act , which went into effect on Dec.

Oregon 134

Oregon Nebraska Colorado Illinois 134

Anders CPA

MAY 23, 2023

Remote workers have become a staple of the workplace, but hiring out-of-state employees can lead to payroll tax complications. Multi-state payroll tax withholding done incorrectly can lead to penalties and interest for employers and create tax headaches for employees.

payroll tax 98

payroll tax payroll Rhode Island Tax 98

CPA Practice

FEBRUARY 11, 2023

After several days of requests by taxpayers, state agencies and the National Taxpayer Advocate , the Internal Revenue Service has provided clarifying the federal tax status involving special payments made by 21 states in 2022. Alaska is in this group as well, but please see below for more nuanced information.

Rhode Island 131

Rhode Island South Carolina income tax Idaho 131

Canopy Accounting

FEBRUARY 20, 2023

Peter Mar, Northwest Tax Associates. Background Peter Mar of Northwest Tax Associates needed a better way to manage his tax practice. More About Peter Peter Mar has been a federally licensed Enrolled Agent since 1996 and is licensed as a Tax Consultant in the state of Oregon.

Oregon 52

Oregon Tax tax consultant Start-ups 52

Cherry Bekaert

JANUARY 22, 2024

Newly proposed legislation, the Tax Relief for American Families and Workers Act of 2024 (the Act) , could potentially move the deadline for the Employee Retention Credit (ERC) claim submissions to the end of January 2024. tax returns for the 2022 tax year. If passed, the Act would bar additional claims after January 31, 2024.

Tax 52

Tax tax return Missouri Oregon 52

CPA Practice

JULY 17, 2023

This is according to the latest Mid-Year Sales Tax Rates and Rules report from Vertex Inc. , a global provider of tax technology solutions. During the first half of 2022, there were a total of 302 new sales taxes and tax rate changes at the state, county, city and district levels.

Tax 52

Tax Oregon Maryland Colorado 52

Withum

AUGUST 4, 2021

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Oregon 52

Oregon Tax 52

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.

business tax 59

business tax Tax Alaska South Dakota 59

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?

income tax 52

income tax South Dakota Tax Alaska 52

TaxConnex

JUNE 17, 2021

Legalization of cannabis and how it would be taxed has been a discussion for many years. billion in tax revenue from legal, adult-use marijuana sales, according to one pro-legalization group. Among the first states to legalize marijuana some seven years ago, Washington collected $614 million in marijuana tax revenue last year.

Legal 144

Legal Illinois Nevada Oregon 144

CPA Practice

DECEMBER 12, 2023

Top 200 accounting firm REDW Advisors and CPAs added Salem, OR-based tax and accounting firm Grove, Mueller & Swank P.C. Prior to this expansion into Oregon, our established office in Phoenix grew to more than 100 team members through a similar acquisition in 2022,” REDW Managing Principal Steve Cogan said in a statement.

Oregon 52

Oregon Oklahoma cpas accounting firms 52

Anders CPA

MAY 15, 2023

This changing employment landscape requires employers to reassess their payroll tax withholding processes to ensure you are withholding the proper amount of state, local and unemployment taxes from your employees’ wages. Below we dive into the state and unemployment tax responsibilities employers need to know.

payroll tax 52

payroll tax payroll South Dakota Rhode Island 52