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

TaxConnex

Colorado will no longer require remote sellers, “retailers without physical presence or with only incidental physical presence,” to have local licenses in the state’s some 70 home-rule cities. Beginning July 1, Colorado cities cannot charge out-of-state businesses for local licenses. Taking license. Texas sales tax revenue totaled $3.83

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A Strategic Timeline for Implementing a Sales Tax Strategy and Process - Part 2 | TaxConnex

TaxConnex

In this case, you might be able to leverage your existing accounting system. But if you have many products in many states and hundreds of invoices a month, it becomes harder to manage sales tax obligations inside an existing accounting process or even inside an existing eCommerce shopping cart.

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The Big 3 Barriers to Managing Sales Tax

TaxConnex

More than half of respondents (58%) use internal resources or their existing accounting system to try to manage their compliance obligations. More than a third (38%) of respondents were among companies struggling with a “lack of bandwidth.” Manual, cumbersome processes.

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Tuesday Morning Accounting News Brief: EY and PwC Get a New Scandal; Stop Trying to Make Sexy Accountants Happen | 1.16.24

Going Concern

The Post Office had prosecution powers and, between 1999 and 2015, it prosecuted 700 sub-postmasters and sub-postmistresses – an average of one a week – based on information from a computer accounting system called Horizon. Some went to prison for false accounting and theft.

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