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Utah State Tax Updates

Withum

For the latest news and updates on Utah state and local tax. Utah Seeks to Lower Income Tax Rates and Improve the State EITC Program. On February 11, 2022, Utah’s Governor Spencer Cox signed S.B. Utah has an automatic 6-month extension to file these taxes but payment must be made by April 15, 2020. February 25, 2022.

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Platform Accounting Group gets $85M funding round

Accounting Today

The Utah-based company that invests in and acquires small accounting firms has received an $85 million minority funding round to support its expansion.

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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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TikTok Shop and sales tax | TaxConnex

TaxConnex

It’s a seamless integration that combines the spontaneity of social media with the convenience of online shopping,” says Wallaroo Media , a Utah-based marketing and advertising agency. “Users can browse products, add items to their cart, and complete a purchase without ever leaving the app.

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Hot Topics: Taxability | TaxConnex

TaxConnex

In a recent update discussed in our webinar, Utah made it effective last year that sellers were required to obtain an updated exemption certificate if more than 12 months had elapsed between transactions. When does an all-important exemption certificate expire? Some states have expirations, but many don’t.

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FDIC Approves Square For Banking License

PYMNTS

The Federal Deposit Insurance Corporation ( FDIC ) gave the green light to an application from the FinTech firm Square to create a de novo industrial bank in Utah, the agency said on Wednesday (March 18). The headquarters will be in Salt Lake City, Utah.

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