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 211
article thumbnail

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

TaxConnex

Early discussions bandied property taxes and temporary hikes in sales tax (Alaska doesn’t have a state-wide one). 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. Then the $6.2 25 this year.

Sales 202
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Cash Infusion for Clean Energy Initiatives

Withum

Generally, entities that can make a direct-pay election include tax-exempt organizations, State or political subdivisions, local governments, Indian tribal governments, Alaska Native Corporations, the Tennessee Valley Authority, rural electric co-ops, U.S. What type of documentation must the transferee receive from the transferor?

tax 52
article thumbnail

Business Tax Rates: How Much Do Small Businesses Pay in Taxes?

xendoo

Tax rate Single individual income Married (filing jointly) income 10% $10,275 or less $20,550 or less 22% $41,775 $83,550 24% $89,075 $178,150 32% $170,050 $340,100 35% $215,950 $431,900 Updates to Small Business Tax Rates The IRS updates small business tax rates yearly to account for inflation or other economic changes.