TaxConnex

JANUARY 26, 2023

There’s always something changing in the world of tax, especially sales tax. Gary Bingel, partner-in-charge for state and local taxes in accounting firm EisnerAmper’s State and Local Tax National Tax Group, made several predictions for 2023 in sales and other taxes. Here’s a review of some of the recent changes and updates.

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Sales Tax Arkansas Missouri 130

TaxConnex

JANUARY 27, 2022

The explosion of the e-commerce market alone would’ve made handling sales tax obligations in-house tough. Due to all of the above, it’s hard to fill any position at this point, but a job with specific skills, especially with experience managing sales and use tax, can be downright impossible. Nearly 8% growth was expected in 2021.

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Sales E-commerce Tax Florida 162

TaxConnex

APRIL 27, 2021

Sales tax obligations are getting more complicated for businesses of all industries. In this blog, we’ll talk to some of the common missteps businesses make when trying to manage sales tax on their own. Figuring out where you have nexus is key to determining your sales tax liability. Not evaluating economic nexus.

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Sales Tax Wisconsin Missouri 130

TaxConnex

JUNE 20, 2023

Almost five years ago, the Supreme Court’s Wayfair decision was heralded as a revenue gateway for almost all states to require remote sellers to collect and remit sales tax. 1, Louisiana’s threshold will also be only $100,000 of sales into the state and not 200 transactions besides. Some states never adopted one.) Starting Aug.

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South Dakota North Dakota Wisconsin Iowa 185

TaxConnex

JUNE 22, 2023

Supreme Court’s Wayfair decision gave tax jurisdictions the power to require out-of-state companies collect and remit sales tax. States then soon set individual economic nexus triggers according to in-state sales, revenue or both ($100,000 per year in sales in a state, for example, or 200 or more separate transactions).

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South Dakota North Dakota Colorado Minnesota 130

TaxConnex

MARCH 24, 2022

A marketplace facilitator is a platform where third-party sellers of any size and geographic area can facilitate retail sales by listing their products, while the marketplace facilitator processes payments, collects receipts and in some cases assists in shipment. But there are, as always in the world of sales tax, conditions.

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South Dakota Nevada Missouri Minnesota 173

Anders CPA

JANUARY 15, 2024

As the forecast changes, we continue to refer back to the plan throughout the year to observe how close our projections are to the actual results and, above all, to hone in on why things are different than expected: Did the regulatory environment impact sales? Did our industry shift? Is our customer retention way off from what we anticipated?

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Retail Missouri Sales CPA 96

TaxConnex

JUNE 22, 2021

The years since June 2018 have been unlike anything in the history of sales tax. Supreme Court Wayfair decision three years ago empowered tax jurisdictions with the sudden authority to require thousands of companies to collect and remit sales tax. How has the sales tax landscape changed in just 36 months? Wayfair case.

South Dakota 130

South Dakota E-commerce South Carolina Missouri 130

CPA Practice

APRIL 5, 2024

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. Missouri $1,392,011 $463,997 33.3% Missouri $1,392,011 $463,997 33.3% Connecticut $1,731,261 $855,307 49.4% Vermont $1,442,094 $651,434 45.2%

West Virginia 126

West Virginia Rhode Island South Dakota North Dakota 126

ThomsonReuters

APRIL 25, 2024

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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South Dakota Rhode Island New Hampshire Wyoming 52

CPA Practice

JUNE 13, 2023

businesses shows that online sales tax compliance remains complex and confusing for businesses to navigate as we mark the fifth anniversary of the Wayfair decision. 72%) agree that five years later, online sales tax requirements are complex and confusing. A new survey of 1,000 U.S. The survey was commissioned by Avalara, Inc. ,

Technology 105

Technology Alaska Missouri Tax 105

ThomsonReuters

SEPTEMBER 19, 2023

Similar efforts in Texas, Missouri, and Georgia failed to garner enough support. Similarly, in Missouri, House Bill 556 passed the House but did not gain approval in the Senate. Please contact your Checkpoint Edge sales rep for more information. It’s also been a popular topic of debate in state legislatures.

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Sports North Carolina Vermont Missouri 52

Anders CPA

OCTOBER 1, 2022

in Business Administration, Marketing and Accounting. He is also a graduate of the Sandler Sales Institute President’s Club program, as well as the Miller-Heiman Strategic and Conceptual Selling methodology. Lesley is a Certified Public Accountant and holds a Masters degree in Accounting from St. About Beth Schulte.

Missouri 52

Missouri public accounting Real Estate CPA 52

inDinero Tax Tips

APRIL 11, 2023

From startups to public enterprises, your bottom line is affected by your state of incorporation’s corporate income tax, excise (sales and use) tax, sales tax, physical and economic nexus tax, franchise tax, and gross income tax. Delaware is considered “the place” to establish your corporate entity as there’s no Delaware sales tax.

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Delaware Nevada Tax Sales 52

TaxConnex

OCTOBER 5, 2023

Automated sales tax software promises to manage your filing and payments, but there’s more to sales tax compliance. Wayfair opened the way for all states with a statewide sales tax to now have economic nexus thresholds set by dollar amount or volume of sales.

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Sales Tax Missouri auditor 147

ThomsonReuters

JANUARY 30, 2023

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. The state currently has scheduled minimum wage increases.

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payroll Hawaii West Virginia Oklahoma 105

Anders CPA

DECEMBER 8, 2022

Donor-advised funds allow charitable contributions, while still allowing the donor advisory privileges regarding the distribution of funds and the investment of assets within the account. Plans with beneficiaries enrolled in an elementary or secondary school are limited to an aggregate of $10,000 in Missouri.

tax planning 52

tax planning Tax Missouri Education 52

PYMNTS

DECEMBER 27, 2019

Sales taxes empower governments to maintain critical public services, but they can also make medical essentials too expensive for those who need them. Louisiana exempts most food purchased outside restaurants, for example, while Missouri exempts clay pigeons and targets used in skeet shooting. Sales taxes’ price tags.

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Tax Louisiana Missouri audit 58

PYMNTS

AUGUST 23, 2018

In a press release , the restaurant chain operator said it was notified on August 16, 2018, by federal authorities that a legacy point-of-sale system for some of its Cheddar’s Scratch Kitchen restaurants, a brand acquired by Darden last year, may have been compromised via a hack that involves restaurants in 23 states.

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South Carolina North Carolina Nebraska Iowa 44

ThomsonReuters

FEBRUARY 7, 2022

per hour (employers with gross volume of sales of $500,000 or more) . per hour (employers with gross volume of sales of less than $500,000) . per hour for most employers with annual gross sales of $110,000 or less . per hour (minors aged 16 and 17) . per hour for tipped workers . per hour (workers under 18 years of age) .

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Rhode Island South Dakota Connecticut Agriculture 92

PYMNTS

AUGUST 3, 2020

Missouri-based Askinosie Chocolate , which has sold ethically sourced confections since 2007, has been tackling such challenges. Askinosie had to visit many of these farmers in person to help them obtain bank accounts, in fact, so they could receive international payments, which the chocolatier delivers via wires. The SMB’s U.S.

AP Processes 81

AP Processes accounts payable Missouri B2B 81

Anders CPA

DECEMBER 11, 2023

In this podcast episode from the Summit Virtual CFO by Anders Modern CPA Success Show , Tom Wadelton is joined by colleagues, Christy Buchanan and Guillermo Rodriguez , as they discuss the cannabis industry as a niche for accounting firms. Join us as we change the way people think about accounting. That’s what puts me back.

South Dakota 52

South Dakota Legal Texas Missouri 52

PYMNTS

SEPTEMBER 24, 2019

The ruling meant that online retailers could be mandated to collect sales tax — and taxes can be levied by states on firms that do not have physical presence in those states. The laws themselves may depend on the number of thresholds, i.e. tied to a sales threshold above, say $250,000, or a number of transactions in each state.

South Dakota 46

South Dakota Retail Tax Kansas 46

inDinero Tax Tips

APRIL 26, 2023

These include banks or thrift institutions that use the reserve method of accounting for bad debts, domestic and international sales corporations, and some insurance companies subject to tax. Furthermore, the business is allowed to have only one class of stock. Certain types of businesses are ineligible to file for this election.

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Tax Utah Kansas Missouri 52

CPA Practice

JULY 18, 2023

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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Sales Retail Tax West Virginia 98

PYMNTS

DECEMBER 1, 2017

Uber is also under investigation by the attorneys general of New York, Missouri, Massachusetts, Connecticut and Illinois. Moreover, even in its home country, Uber’s dominance has been slipping, with some estimating that rival Lyft will account for as much as a third of the market within the next few years.

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New York Washington Missouri Connecticut 57

ThomsonReuters

JUNE 14, 2021

The IRS has posted a June 2021 draft version of the Form 941 , Employer’s Quarterly Federal Tax Return, instructions that take into account the amended and expanded coronavirus (COVID-19) pandemic tax credits and the new COBRA premium assistance credit from the American Rescue Plan Act (ARPA). Draft instructions of Form 941 and schedules.

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payroll Missouri Virginia Delaware 98

ThomsonReuters

OCTOBER 19, 2022

In this edition, we take a look at the recently enacted corporate alternative (book) minimum tax; new elections to convert credits to cash or tax payments; changes to the electric vehicle credit; recent legislation in Kansas, Kentucky, and Missouri; and state taxation of forgiven student loans. Not yet a subscriber?

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Kansas income tax Kentucky Tax 64

inDinero Tax Tips

APRIL 20, 2021

From startups to public enterprises, your bottom line is affected by your state of incorporation’s corporate income tax, excise (sales and use) tax, sales tax , physical and economic nexus tax, franchise tax, and gross income tax. Gross receipts tax is the opposite of a sales tax that customers pay. Historically, in the U.S.,

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Delaware Wyoming Nevada Oregon 64

TaxConnex

FEBRUARY 15, 2024

There’s always something changing in the world of tax, especially sales tax. B&O responsibility: A Washington State appellate court has found two sellers responsible for sales tax and business and occupation (B&O) tax on sales made through Amazon’s Fulfillment by Amazon (FBA) program. No refund, stat!:

Sales 189

Sales Tax Illinois Washington 189

PYMNTS

APRIL 29, 2020

Macadoodles operates several large-scale locations in Missouri that each carry approximately 4,000 wine and 600 beer brands. This trust factor is causing firms to take slower approaches to B2B payment innovations, as these new tools are still seen as unfamiliar and untested for accounts receivable (AR) and accounts payable (AP) processes.

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B2B accounts payable Arkansas AP Processes 52

TaxConnex

MARCH 2, 2021

There’s always something changing in the world of tax, especially sales tax. The Sunshine State previously bet a lot on tourism revenue making up for not taxing internet sales – but the pandemic has wrecked that industry. Missouri lawmakers considered a remote sellers ’ ? And 2021 is off to a n especially busy start.

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Sales Tax Missouri Wisconsin 229