article thumbnail

Can an eCommerce platform alone manage sales tax?

TaxConnex

Usually all retail sales of tangible personal property (TPP) are taxable, but many states have started to tax services. Who the customer is and what they’ll use the TPP for can create a sales tax exclusion, too, such as when selling to a church or government agency. Managing the process Calculating sales tax. Taxability.

Sales 201
article thumbnail

What's new in May for state sales and use taxes

TaxConnex

Voters will likely be asked this fall if they’re willing to increase the city’s 5% sales tax to 6% during the summer in exchange for exempting food from sales tax year-round. Alabama has enacted that some agriculture products are exempt from sales and use tax if these sales are made by the producer, immediate family or an employee.

Sales 192
article thumbnail

QSBS Exemption Explained: What Investors and C-Corp Executives Should Know

inDinero Accounting

However, the IRS rules surrounding this tax break are complicated and go beyond what we’ve covered in this article. If you want to dive deeper into this topic, you can connect with one of the experts on our business tax services team. Table of Contents What is the QSBS Exemption? A C Corporation must issue the shares.