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What’s new: state sales and use taxes

TaxConnex

There’s always something changing in the world of tax, especially sales tax. Florida sales tax exemptions on hurricane-preparedness items may soon encompass purchases of pet food, thanks to the lobbying of a local Girl Scout troop. has become the second state this year to expand its sales tax exemption involving gold and silver.

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What's new in state sales and use taxes

TaxConnex

There’s always something changing in the world of tax, especially sales tax. 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. Wholesale sales or sales of exempt goods are not subject to the fee. its Sales Tax Bulletin No.

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How Small Retailers Can Handle Sales Tax on Shipping: State-by-State Guide

CPA Practice

Worldwide retail ecommerce sales could reach $6.169 trillion in 2023 and comprise 22.3% of total retail sales. The following guide provides more detailed information for each state and answers frequently asked questions like, “Do you charge sales tax on items shipped out of state?” or “Is there sales tax on U.S.

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The accountant’s guide to state taxes on retirement income

ThomsonReuters

As an accountant, understanding state tax considerations for various sources of retirement income — including pensions, Social Security benefits, 401(k) and IRA distributions, Thrift Savings Plans (TSPs), and military retirement income — is crucial in helping your clients minimize their tax liability and make the most of their golden years.

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How the 50 States Rank By Lifetime Taxes

CPA Practice

Taxpayers in Washington will pay the most on everyday expenses ($83,014), followed by those in California ($78,191), accounting for food, clothing, personal care, and entertainment. Mississippi $1,212,292 $481,017 39.7% Mississippi $1,212,292 $481,017 39.7% Connecticut $1,731,261 $855,307 49.4% Vermont $1,442,094 $651,434 45.2%

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Friday Footnotes: Accountants Are Into AI; KPMG Atlanta MP on ICE T; 150 Hour Inequity | 8.18.23

Going Concern

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. million for being negligent in giving advice over a stock-sale transaction. The accounting firm said it will challenge the finding. “We is facing labor agitation on two fronts.

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Trendspotting: Top Ten Payroll Issues of State Legislatures

ThomsonReuters

The bill would also increase the average annual gross volume of sales of retail stores, service industries, hotels, motels, and 16 restaurant operations from $95,000 to $500,000 to qualify for an exception. Currently, Mississippi does not have any minimum wage or overtime provisions.

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