TaxConnex

DECEMBER 12, 2023

But not for sales tax liability, where most states still maintain strong responsible party laws. And they can come as a real shock: CEOs, CFOs, directors and other execs can be held personally responsible for sales tax shortfalls. That’s true for many of the fiscal messes that can befall a company.

Sales 193

Sales Tax Ohio Georgia 193

TaxConnex

NOVEMBER 28, 2023

does not free you from the complexities of sales tax. In many countries, you will run into some kind of sales tax – familiar if you’re used to selling in the U.S., You pay any VAT liabilities to the tax office of the appropriate country. tax jurisdictions in which they have nexus. (A Selling outside the U.S.

Sales 208

Sales Tax Transportation Maine 208

TaxConnex

SEPTEMBER 26, 2023

(We generally recommend that companies start watching their nexus requirements when they hit the $100,000 in sales in a state. Companies also must always consider how physical presence , such as offices or even just sales reps, can create nexus.) Louisiana home-rule locations largely follow their state-wide tax treatment for TTP.

Sales 201

Sales Tax South Dakota Colorado 201

TaxConnex

DECEMBER 21, 2023

It’s the end of the year and as we all start to think about our New Year’s resolutions, it’s also a good time to start thinking about correcting any sales tax missteps your business may be facing. They report taxes owed in exchange for a waiver of penalty and a limited look-back period.

Sales 219

Sales Tax audit tax accountant 219

TaxConnex

MARCH 26, 2024

We are at the end of Q1 of 2024 and continue to discuss how to ensure your business is set up to get sales tax right in 2024. If you’re like the over 49% of businesses who participated in our annual sales tax trends survey and are unsatisfied with the way you are managing sales tax, then you’re in the right place.

Sales 159

Sales Tax tax return Retail 159

TaxConnex

SEPTEMBER 7, 2023

Nonprofits are often thought to be exempt from sales taxes, but is that correct? Other stats say more than 2 million charities exist that are tax-exempt according to Internal Revenue Service rules. Are non-profits exempt from sales tax obligations? These same organizations are not necessarily exempt from sales tax.

Sales 147

Sales Tax Non-Profits North Carolina 147

TaxConnex

NOVEMBER 15, 2022

Many certified public accountants (CPAs), enrolled agents and other tax preparers and professionals that run accounting and tax preparation firms are constantly looking for new advisory avenues to service clients. One of these new areas, is often sales tax. Tax Code and the IRS). What’s next? “It

accounting firms 130

accounting firms Sales Tax Account 130

TaxConnex

NOVEMBER 30, 2023

Blog authored by Scott Schwertner, National Director of Sales and Use Tax for Invoke Tax Partners. It is common for businesses across the United States to pay sales tax and accrue use tax on purchases that are not taxable, resulting in an unnecessary hit to their bottom lines each year.

Sales 173

Sales Tax accounts payable tax consultant 173

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. Many notices are routine.

Sales 147

Sales Tax Missouri auditor 147

TaxConnex

NOVEMBER 22, 2022

In our blog last week, we looked at how sales and use tax advisory services might be a good new field for CPAs and accounting firms. Another cost-effective approach to adding sales and use tax advisory services: partnering with sales and use tax experts. Review the sales tax payable account.

accounting firms 130

accounting firms Sales Tax tax return 130

TaxConnex

NOVEMBER 14, 2023

A job as intimidating as setting up a system to handle your sales tax obligations can be a lot easier if you have an idea how long it will take. As with most aspects of sales tax, there are no fixed answers, but we can give you an idea. Part of your decision in this case rests with how long you’ve had sales tax exposure.

Sales 187

Sales Tax Connecticut Colorado 187

TaxConnex

MAY 24, 2022

Taxable sales of products direct to end users has been a staple of business for ages. One relatively new development is the complex overlay of sales tax on these transactions. Add internet sales to the mix and you’ve got sales tax obligations sprouting up these days more than ever. Assessing your footprint.

South Dakota 185

South Dakota Sales Tax Retail 185

TaxConnex

AUGUST 10, 2023

Your online business is painfully aware of tax deadlines for income, payroll, property and other local taxes. Sales and use taxes have their deadlines, too – a dizzying number to follow, potentially with bad consequences if you miss even one. A lot of complications Currently, sales tax across the U.S.

Sales 130

Sales Tax tax return payroll 130

TaxConnex

NOVEMBER 5, 2020

If your business has an obligation to collect and remit sales tax, then you know how complex the process can be. Automating part or all of the sales tax process is sometimes necessary to maintain compliance. However, in my experience, sales tax automation can be counterproductive in certain situations.

Technology 223

Technology Sales Tax tax return 223

TaxConnex

AUGUST 18, 2022

A lot of times regarding sales tax, the answer to any question is, “It depends.” Covid created unique conditions for companies that must collect and remit sales tax, including many temporary breaks regarding worker locations. has long included employees working in tax jurisdictions different from your office locations.

Sales 190

Sales Tax New Hampshire income tax 190

TaxConnex

OCTOBER 12, 2023

And one thing that can pound a stake through the heart of a promising M&A is unearthing past tax liability during due diligence. Enter past-due sales tax, a sometimes-overlooked and haunting liability that might not get the attention of, say, overdue income or property tax, until it’s too late.

Sales 113

Sales Tax audit tax return 113

TaxConnex

NOVEMBER 21, 2023

In the world of accounting and tax, CPAs, accounting firms, and advisory firms play a vital role in helping individuals and businesses manage their finances and stay within the rules. But one tricky area that often causes headaches is sales and use tax. Adding new employees, locations, or warehouses. Audit notices.

cpas 147

cpas Sales Tax audit 147

TaxConnex

DECEMBER 20, 2022

million businesses have made over $200 billion in sales with the Ottawa, Ontario-based company’s websites. What about sales tax? Shopify is not required to collect and remit sales tax for its sellers, as it is not a marketplace facilitator like Amazon, eBay, or Etsy. Doesn’t file or remit.

Sales 130

Sales Tax E-commerce tax accountant 130

TaxConnex

JUNE 7, 2022

They’re platforms where third-party sellers of any size and geographic area can facilitate retail sales, including the collection/processing of payments, in exchange for compensation. Marketplace facilitators are required to charge sales tax where they have nexus (the connection between a tax authority and a company).

South Dakota 180

South Dakota Sales Tax Start-ups 180

MyIRSRelief

APRIL 29, 2024

But for these go-getters, navigating the complexities of running a business, especially the ever-challenging world of taxes and accounting, can feel overwhelming. This is where specialized tax and accounting firms step in, becoming a crucial partner for small businesses with under 100 employees.

Tax 130

Tax bookkeeping Account accountant 130

TaxConnex

NOVEMBER 3, 2020

There’s always something changing or new going on in the world of tax, especially sales tax. In Alabama , tax licenses – including for sales tax, sellers use tax and the simplified sellers use tax – must be renewed annually as of Nov. New York City tax revenues in March and April fell $1.15

Sales 224

Sales Tax Wisconsin Vermont 224

TaxConnex

JUNE 9, 2022

What’s new in May for state sales and use taxes. There’s always something changing in the world of tax, especially sales tax. Exempting groceries from sales tax as American families struggle with inflation and other economic woes is politically tempting. Food for thought. Time for a renovation?

Sales 192

Sales Tax Colorado Massachusetts 192

TaxConnex

OCTOBER 19, 2021

You may think your business is in full compliance with your sales tax obligations nationwide – and you may well be – but America’s 10,000-plus sales tax jurisdictions love to send notices. Follow instructions or recommendations on the notice and make appropriate changes to your system to maintain sales tax compliance.

Sales 209

Sales Tax tax return Account 209

TaxConnex

MARCH 9, 2023

At least three states opened this year with proposals to revamp taxes concerning digital advertising and data. Massachusetts legislators seem to be leading the way, with multiple draft bills that would adopt a digital advertising services tax on commercial data collection or the sale of personal information.

Sales 147

Sales Tax Indiana Massachusetts 147

TaxConnex

JULY 26, 2022

Partnerships, just like your sales tax obligations, evolve over time. Sales tax is not a set it and forget it task, so if you’ve handed things off and aren’t sure how things are going, it may be time for a check-up with your provider. No Accountability. Who is accountable to you for resolving issues??

Sales 191

Sales Tax tax return Technology 191

TaxConnex

DECEMBER 29, 2022

New sources of tax revenue, old ones robust but sputtering in spots, tax holidays as political tools amid inflation: It’s been a year of new trends in sales tax. Almost three out of four respondents reported that online sales as a percentage of revenue had increased since 2019 – no doubt fueled by pandemic eCommerce.

Sales 130

Sales Tax Maryland Louisiana 130

TaxConnex

MAY 4, 2023

Many tech companies consider themselves service providers, exempt from sales and use tax. In these cases, IP addresses have been used for sales tax in certain situations because it can be mapped to a physical address. Will all social media networks now be required to obtain full addresses of their account holders?”

Sales 130

Sales Tax Maryland Oregon 130

TaxConnex

JUNE 13, 2023

Sales tax compliance involves a highly complex set of rules and regulations. These rules change frequently in many jurisdictions, and the question of whether (and how) your company needs to collect and remit sales tax to a certain jurisdiction can be quite difficult to determine. Why is it not enough?

Sales 130

Sales Tax Maine Account 130

TaxConnex

JULY 12, 2022

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.

Sales 177

Sales Tax Oklahoma Illinois 177

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. This affects returns for sales taking place from December through this month.

Sales 229

Sales Tax Missouri Wisconsin 229

TaxConnex

MAY 16, 2023

As you are likely aware, managing your sales and use tax obligations is not a small task. For many companies, investing in the legal, tax, and accounting expertise of outside consulting experts with a proven track record is a good option for sales and use tax compliance.

Sales 130

Sales Tax cpa firm CPA 130

TaxConnex

FEBRUARY 16, 2023

Think you’re the only one worried about sales tax compliance? According to our third annual Sales Tax Market Survey you’re not. Our company is highly acquisitive and this results in lack of consistency when it comes to billing, accounting and reporting,” said one survey respondent. Too much staff time needed.

Sales 130

Sales Tax Alaska Missouri 130

TaxConnex

AUGUST 11, 2022

A few recent developments – including scams and fine definitions –across the country show how sales tax compliance can be complicated. New York: An appeals court ruled last month against a company that claimed eligibility for sales tax refunds on several purchases of concrete. contact TaxConnex.

Sales 130

Sales Tax North Carolina Pennsylvania 130

TaxConnex

AUGUST 24, 2021

In the world of sales tax, they’re major marketplace facilitators. A marketplace facilitator is a platform where third-party sellers of any size and geographic area can facilitate retail sales, including the collection/processing of payments, in exchange for compensation. Amazon, eBay and Etsy are more than household names.

Sales 212

Sales South Dakota Tax South Carolina 212

TaxConnex

MARCH 7, 2023

Online retailers and eCommerce companies have been the focal point of taxing jurisdictions and their updated nexus laws for years. Our third annual survey of financial professionals revealed a sales tax storm in many industries. Yet these companies are unhappy about they handle sales tax.

Sales 130

Sales Retail Tax tax return 130

Accounting Today

OCTOBER 19, 2023

As more accountants retire or move to other fields, their valuable insights into sales tax management are lost.

Sales 94

Sales Tax Account accountant 94

TaxConnex

MARCH 1, 2023

Sales tax compliance is riddled with risk. While these pass-through taxes are not meant to create a financial burden on a business, failure to comply can create significant risk and managing the obligations can be a burden to the team who has to manage them.

Sales 130

Sales Tax audit tax return 130