TaxConnex

MARCH 5, 2024

That’s a lot of tax potential, and the feds have started to notice. Nevertheless, how long before states start trying to tap this market to collect sales tax? So far, Pennsylvania reportedly just lists NFTs as “taxable,” though Michigan does go so far as to classify NFTs as digital goods not subject to the state sales and use tax.

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Sales Tax Wisconsin Minnesota 147

ThomsonReuters

MARCH 20, 2024

Tax professionals involved in omnichannel retail industries face an unprecedented number of challenges these days. Calculating sales tax across different retail channels is complex due to various regulations, frequent changes in product data, and outdated systems, especially with increasing sales volume and shrinking budgets.

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Retail Tax Technology auditor 52

CPA Practice

APRIL 16, 2024

Retail sales continued to increase in March along with job growth and tax refunds, which put more money in shoppers’ pockets, according to data from the U.S. The Census Bureau said overall retail sales in March were up 0.7% The Census Bureau said overall retail sales in March were up 0.7% Core retail sales were up 3.9%

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Sales Retail payroll Tax 119

MyIRSRelief

APRIL 22, 2024

Navigating tax issues can be daunting, especially when facing audits, unpaid taxes, or payroll problems. This FAQ guide provides insights into common tax problems and solutions available in Corona, CA. In Corona, CA, having an expert who understands local and federal tax laws can be crucial.

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TaxConnex

DECEMBER 28, 2023

The new year will no doubt be another active one in sales tax. Weaker state revenue The kind of year it’s going to be for state coffers could greatly influence such future sales tax trends as new levies, tougher nexus thresholds and intensifying audits. Overall, state tax revenues dropped 5.3%. If so, watch out for 2024.

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South Dakota Sales Tax Louisiana 222

TaxConnex

SEPTEMBER 26, 2023

“Revenue” can also vary, meaning “ gross revenue ” in some states and “taxable receipts” or “retail receipts” in others. (We Usually all retail sales of tangible personal property (TPP) are taxable, but many states have started to tax services. Louisiana home-rule locations largely follow their state-wide tax treatment for TTP.

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Sales Tax South Dakota Colorado 202

TaxConnex

FEBRUARY 1, 2024

It’s also safe to say that its storyline of repetition seems to echo what you must do, over and over and over, to comply with sales tax laws. It’s a doozy! – “Needlenose Ned” Ryerson There are multiple steps to make sure your sales tax compliance works well. The days you get over and over with sales tax are deadline days.

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Sales Tax Minnesota Colorado 230

CPA Practice

JULY 28, 2023

By Gail Cole Is sales tax based on shipping address or billing address? Understanding how sales tax works is fundamental for every retailer. If you’re doing business in a state with a sales tax, you may know you need to register for sales tax, then collect and remit tax as required by law.

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Sales Tax Retail New Mexico 98

TaxConnex

MARCH 19, 2024

Wouldn’t it be amazing if your online business had to deal with just a single sales tax rate? Any business that sells into America knows that sales tax is still a complex web of different rates and requirements. What is the latest word on uniform sales taxes globally? 25-Fair Tax Act of 2023.

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TaxConnex

SEPTEMBER 13, 2022

Remote retail sales just got rockier in Colorado, which has begun imposing a 27-cent fee on every retail delivery made by motor vehicle to a destination in the state. The fee will apply when at least one item is subject to sales or use tax and the delivery is mailed, shipped or delivered by motor vehicle. Will the fee stand?

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Colorado Tax tax return Sales 188

TaxConnex

JANUARY 23, 2024

Sales and use tax generally applies to the sale or use of tangible personal property and certain services. Since software, and especially Software-as-a-Service, may not be delivered in a tangible form, many technology and software companies have considered themselves exempt from sales and use tax. But this is not always the case.

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Sales Tax Washington Technology 188

TaxConnex

OCTOBER 3, 2023

There’s always something changing in the world of tax, especially sales tax. billion in tax revenue on sales tax holidays that offer breaks on such goods as back-to-school or disaster-preparedness items. The other prevalent argument is that sales tax holidays are a way of giving tax relief. “The

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Sales Louisiana Tax Tennessee 147

CPA Practice

JULY 18, 2023

Worldwide retail ecommerce sales could reach $6.169 trillion in 2023 and comprise 22.3% of total retail sales. If you’re part of that rising tide, you need to know how to tax shipping and delivery charges. A combined charge for shipping and handling may be taxed differently from separate charges for shipping and handling.

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Sales Retail Tax West Virginia 98

TaxConnex

AUGUST 1, 2023

Except when sales tax becomes involved. And the state or local sales tax you also charged on the purchase? Here it gets complicated: How much did you charge the customer in sales tax? Where was the sale made (and did it incur sales tax based on destination or origin )? It seems like a simple part of selling online.

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Sales Rhode Island Tax Michigan 130

TaxConnex

SEPTEMBER 7, 2023

Nonprofits are often thought to be exempt from sales taxes, but is that correct? Other stats say more than 2 million charities exist that are tax-exempt according to Internal Revenue Service rules. Are non-profits exempt from sales tax obligations? These same organizations are not necessarily exempt from sales tax.

Sales 147

Sales Tax Non-Profits North Carolina 147

Withum

SEPTEMBER 16, 2022

It is no surprise that states are seeing significant growth in sales tax revenue, a trend fueled by changes in consumer spending during the pandemic. The third reason for higher sales tax revenue was the Wayfair decision in which the Supreme Court expanded the physical nexus requirement to include economic nexus (e.g.,

Sales 80

Sales Retail Tax South Dakota 80

TaxConnex

JULY 18, 2023

We hear a lot about nexus and various thresholds but not as much as about tax situs. The situs is the location in which a taxing event occurs. A company may, for instance, have a customer based in a state that levies sales tax on SaaS but many other users who access the software from all over the country. That’s the situs.

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Sales Tax Washington Retail 130

Menzies

APRIL 12, 2024

These are tumultuous times for the UK’s retail sector. A shift in consumer spending habits and the rapid growth of online shopping platforms, alongside a cost-of-living crisis, has reduced footfall on the high street and placed increased pressure on the operating margins of many retailers.

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Retail E-commerce chartered accountant Manufacturing 52

TaxConnex

MARCH 31, 2022

One such phrase is “sales and use tax.”. We sure know what “sales” tax is. What about Use Tax? Use tax is defined ?as as a tax on the storage, use or consumption of a taxable item or service on which no sales tax has been paid. Use tax or sales tax is due on a sale, but not both. Your ‘choice’.

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Tax Alabama Washington California 189

TaxConnex

DECEMBER 27, 2022

Sales and use tax nexus is defined as a connection between a person or entity and a taxing jurisdiction. Sales tax nexus is the basis for all your sales tax decisions because without sales tax nexus you have no further obligation to a state. That is unless an exemption applies.

Sales 188

Sales Tax Non-Profits Maine 188

Xero

JUNE 8, 2023

And with a new financial year around the corner, it’s no surprise that retailers are cleaning house in preparation. So if you’re looking to do the same (and tackle tax time while you’re at it), below are a few simple tips to consider ahead of the ‘23 year-end. And as a retailer, it’s imperative to get it right.

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Retail Tax bookkeeping payroll 91

TaxConnex

AUGUST 17, 2021

Sales tax is full of complexities, but there are certain topics that seem to cause more of a headache than others. Who’s responsible for the tax? One transaction between the distributor and the retailer, and a second transaction between the retailer and the end-user customer. Drop shipments are one of those topics.

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South Carolina Utah Illinois Sales 239

TaxConnex

AUGUST 22, 2023

If you’re in this industry, the last thing you need added to your load is sales tax. Generally, a business in the construction industry is performing a service, and most services are excluded from sales and use tax. But sales tax has to be your concern if you engage in contracts in different states. Tax-exempt entities.

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Construction Sales South Dakota Tax 130

TaxConnex

JULY 12, 2022

There’s always something changing in the world of tax, especially sales tax. Colorado will begin imposing a 27-cent fee on every retail delivery made by motor vehicle to a destination in the state, beginning July 1. For retailers that can’t include the?required its Sales Tax Bulletin No. required statement?

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Sales Tax Oklahoma Illinois 178

TaxConnex

APRIL 12, 2022

There’s always something changing in the world of tax, especially sales tax. Inflation and other spiraling prices have driven states’ lawmakers to consider relief via sales and other taxes. Florida seems to be leading the way, proposing sales tax holidays and other short- and long-term tax relief on a broad range of products.

South Dakota 209

South Dakota Sales Tax North Carolina 209

TaxConnex

OCTOBER 27, 2020

We can’t say it enough – sales tax is complex. We’ve compiled some of the top questions we get from clients on sales & use tax. Part 1 of these questions was on sales tax and business services. What is the difference between sales and use tax? Most states have both a "sales" and a "use" tax.

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Sales Tax Retail auditor 189

TaxConnex

SEPTEMBER 14, 2023

How is sales tax managed for this growing industry? The sales tax obligations related to subscription box services depend on many of the same questions as other remote sellers: Are your products taxable or exempt in tax jurisdictions where you have customers? Wine and other spirits also incur excise taxes in many states.

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Sales Rhode Island Tax Kansas 147

TaxConnex

JANUARY 5, 2021

As if sales tax nexus and taxability rules weren’t confusing enough, throw in marketplace facilitators and drop shipments and it’s easy for a business of any size to want to give up on sales tax compliance. The transaction between the retailer and the end-customer. The first scenario is a bit more complicated though.

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Sales Tax Manufacturing California 242

TaxConnex

APRIL 18, 2023

There’s always something changing in the world of tax, especially sales tax. New sales taxes are progressing in some states but not all. Alaska, one of the few states still without a statewide sale tax, is considering one as it tries to close a projected revenue shortfall of $450 million heading into the next fiscal year.

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Sales Tax North Carolina Alaska 130

TaxConnex

SEPTEMBER 10, 2020

Lately they’ve been followed by retailers, notably restaurants , nationwide. These fees raise the question – "are COVID surcharges subject to state sales taxes?”. Nevada , Texas , South Carolina and New Jersey are among the first states mandating surcharges on retail sales subject to sales tax. States to watch.

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South Carolina Sales Tax Nevada 245

TaxConnex

JUNE 15, 2023

Call it a sales tax or a delivery fee of 27 cents. Retailers, online marketplaces and services must now charge the delivery fee if an order will be delivered to a Colorado address using a motor vehicle and includes at least one item subject to the state sales or use tax. The fee does go up a penny this July.

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Colorado Sales Minnesota Tax 130

TaxConnex

AUGUST 31, 2023

Online selling of products and services triggers sales tax obligations today like never before – and has ever since the Supreme Court’s 2018 Wayfair decision unleashed economic nexus on e-commerce merchants nationwide. Some businesses can manage the calculation of sales tax without separate sales tax software systems.

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Sales E-commerce Tax Alaska 229

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 224

AccountingDepartment

APRIL 11, 2024

As small and medium-sized businesses undergo rapid expansion and growth, they are often faced with a myriad of sales tax challenges, particularly within the retail and e-commerce sectors.

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E-commerce Tax Sales Retail 84

CPA Practice

DECEMBER 19, 2023

Firearms and ammunition are already subject to New York sales tax. If New York State Senate Bill 7733 is enacted, it will place an additional excise tax on the sale of firearms and ammunition in the Empire State. SB 7733 would impose an excise tax on licensed dealers in firearms, firearms manufacturers, and sellers of ammunition.

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New York Tax Manufacturing tax return 133

TaxConnex

OCTOBER 31, 2023

Just don’t let sales tax turn the situation into a nightmare. Consider: Your new product is not taxed but should have been. At an average sales tax rate of 8%, that’s more than $29,000 in uncollected sales tax in just one jurisdiction. Remember: You don’t want to collect too much sales tax on your new products, either.

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Sales Tax Alaska Colorado 147

Anders CPA

JANUARY 15, 2024

Here are some factors for cannabis retailers to consider when building a 2024 financial plan. Cannabis Retail Sales Projections To come up with projected revenue, a retailer needs to consider their historical sales data, the 2024 addressable market, as well as any specifics in local demographics. We would be happy to help.

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Retail Missouri Sales CPA 96