New Alabama Legislation to Exempt Federal COVID Benefits from Alabama Income Tax

Dent Moses

Yesterday, Alabama House Bill 231 and Alabama Senate Bill 152 were forwarded to Governor Kay Ivey for signature. The Alabama Society of Certified Public Accountants recently sent out the following guide which addresses many frequently asked questions.

Alabama Reopens And COVID-19 Cases Soar 300 Pct Month Over Month

PYMNTS

After Alabama reopened on May 1, the state has seen coronavirus cases surge by 300 percent month over month, with intensive care units (ICUs) at less than 4 percent capacity remaining and medical workers “exhausted physically and mentally,” Montgomery Mayor Steven Reed said on CNBC.

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CORO Global Brings Gold Payment App To Alabama

PYMNTS

The company – and its gold trading app – just expanded its reach in the United States with the addition of a license to operate in Alabama. The Alabama Securities Commission on Tuesday (Nov. The future is looking a bit more golden for CORO Global.

Alabama State Tax Updates

Withum

Blogs

Coronavirus Refunds: University Of Alabama To Reimburse Students For Football Season Tickets

PYMNTS

The University of Alabama will be reimbursing its students for ticket plans that were bought in the spring for this year’s football season, Roll Tide Wire reported. Coronavirus COVID-19 Football News refunds season tickets University of Alabama

Alabama Tests Selfie Authentication To Fight Tax Fraud

PYMNTS

The company recently announced a partnership with the Alabama Department of Revenue (ADR). By implementing state-of-the-art technologies, like the MorphoTrust eID, the state of Alabama continues to demonstrate that it is doing everything possible to protect our taxpayers from anyone looking to steal their information and use it to file fraudulent state tax returns,” said Julie P.

Grocery Delivery Alabama Startup Shipt Takes On Instacart, AmazonFresh And Google

PYMNTS

Until now, the Alabama startup had not made any move to topple the reigning grocery delivery champs out of major coastal cities like New York and Los Angeles, but now that can finally change. The Alabama startup eliminates grocery store trips for 20 million families in 47 metro areas. So far, the Alabama startup is faring pretty well against Goliath. David is taking on Goliath as Shipt, an online grocery delivery startup based in Birmingham, Ala.,

Unclaimed Property – Could some of it be yours?

Dent Moses

Each year, unclaimed or abandoned assets are turned over to Alabama Unclaimed Property by financial institutions and businesses that lose contact with the owners. Currently, more than $400 million in unclaimed funds are being held by the State of Alabama.

Walmart Tests Digitally Enhanced Stores

PYMNTS

Walmart has started trialing new digital services in its Mobile County, Alabama supercenter, including ModiFace , a new device that enables customers to digitally test makeup. The Alabama store, which had its grand reopening late last week as a high-tech supercenter, is among the few locations that are getting a redesign with more advanced technologies, noted the report. Innovation alabama brick and mortar Modiface News Retail shopping technology walmart What's Hot

Understanding use tax

TaxConnex

One quick explanation of the difference is an example from Alabama : The consumers use tax is imposed on tangible personal property brought into Alabama for storage, use, or consumption in the state when the seller did not collect seller’s use tax on the sale of the property.

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Risks of Non-Compliance

TaxConnex

Montgomery, Alabama: Two convenience store operators have pleaded guilty to failing to pay sales taxes. Simon Njuku, 45, of Irondale, Alabama, and Mehryar Nasseri, 44, of New Market, Alabama, each admitted to routinely underreporting their stores’ gross sales to reduce their tax bill.

What's New in State Sales and Use Taxes

TaxConnex

Alabama has ruled that IT services provided from out of state are not subject to sales tax. In the case in question, the foreign company provided an IT system remotely to an Alabama production plant. There’s always something changing in the world of tax, especially sales tax.

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Vendor concessions/discounts can help pay to outsource sales tax obligations

TaxConnex

Alabama’s discount, for instance, is 5% of the first $100 collected and 2% over $100. Some states are also more generous than others with their caps: Alabama caps discounts at $400 a month, New York at $200 a quarter.

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Latest Developments in State and Local Sales Tax

TaxConnex

In Alabama , rising pandemic-related online shopping has been a “life saver” for the state’s municipal governments and a “financial vaccine for Alabama’s counties,” the state said.

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Gross vs. taxable sales: Which count toward economic nexus?

TaxConnex

Currently, states with an economic nexus threshold that don’t include gross sales include Alabama, Arkansas, Colorado, Minnesota (though there are special rules concerning “solicitors” in the state) and Oklahoma.

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Home Rule: Can Local Jurisdictions Create Sales Tax Obligations?

TaxConnex

Alabama on the other hand, has a unified tax base, meaning localities cannot make their own choices about what to tax and what to exempt, but many local governments handle their own tax administration.

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State and Local Tax Deductions

Dent Moses

Alabama and certain other states have enacted legislation relating to pass thru entities allowing the business to pay the state tax on behalf of the individual. If you itemize your deductions, you are allowed a deduction on your federal return for certain taxes you paid.

Sales Tax and Vitamins/Dietary Supplements

TaxConnex

Labels can also have “drug facts” that would likely trigger tax as a prescription or nonprescription drug (this could exempt the vitamins and supplements from state sales tax in some states like Alabama, Connecticut and Kansas and, in some cases, Oklahoma).

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State Discounts for Sales Tax

TaxConnex

Some states, such as Alabama, Mississippi and Wyoming, require filing by a certain day of the month. Collecting and remitting sales tax can be onerous – and expensive – for any business. That’s one reason some states give a collection discount to help with the costs of managing sales tax.

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What’s new: state sales and use taxes

TaxConnex

Alabama ?has There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates.

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State & Local Tax Update: 9/22/16

Katz,Sapper&Miller

The Alabama Department of Revenue has issued guidance to contractors, subcontractors, and Alabama governmental entities regarding the reporting requirements of Ala. Code § 40-9-14, which requires the Department to issue Form STC-1 (Sales and Use Tax Certificate of Exemption for Government Entity Projects) to all contractors and subcontractors working on qualifying governmental entity projects

States with local economic nexus - a review

TaxConnex

Other states such as Alabama, Colorado and Louisiana have home-rule jurisdictions where separate returns may need to be filed at the local level. Given the complexity that already exists regarding sales tax, it’d be great if states were the only jurisdictions that levied them.

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What's New in State Sales and Use Taxes - Monthly Update

TaxConnex

An Alabama taxpayer that manufactures rockets requested a partial sales tax refund for tax paid on helium and nitrogen, claiming that the gasses used in their manufacturing should qualify as machines and therefore they would be subject to the reduced machine rate of 1.5%

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What’s new for state sales and use taxes

TaxConnex

Alabama lawmakers are moving forward with the “ Small Business Relief and Revitalization Act of 2022 ,” part of which raises the monthly filing requirement for making estimated sales tax payments from $2,500 to $5,000 in average monthly tax liability during the prior calendar year.

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Understanding the Pieces to Your Sales Tax Compliance Puzzle

TaxConnex

Some states — notably Alabama, Colorado, Louisiana, Alaska, among others — empower municipalities and other jurisdictions to levy sales taxes. This article was written for the Atlanta Business Chronicle Leadership Trust. To see the original post, click here.

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ALDI Plans 70 New Store Openings In Expansion Push

PYMNTS

The value grocery chain also said it intended to come into the greater Phoenix market and continue to support Gulf Coast store growth with a new Alabama distribution center, according to a Tuesday (July 21) announcement.

Sales Tax on Shipping: When Does it Apply?

TaxConnex

Stating the shipping cost separately on the invoice affects its taxability in Alabama, Arizona, Illinois, Iowa, Maryland, Oklahoma, Utah, Virginia and Wyoming.

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

TaxConnex

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. What’s new in May for state sales and use taxes. There’s always something changing in the world of tax, especially sales tax.

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Shrinking the Delaware Tax Loophole: Other U.S. States to Incorporate Your Business

inDinero

Currently, Alabama, Arkansas, Delaware, Georgia, Illinois, Louisiana, Missouri, New York, North Carolina, and Oklahoma have a franchise tax. Incorporation is a critical legal matter that impacts more than your company’s tax responsibilities for doing business.

Today In Digital-First Banking: Alfa-Bank Joins Contour Trade Network; JPMorgan Names New Liquidity Solutions And Escrow Exec

PYMNTS

CORO Global Brings Gold Payment App to Alabama. CORO Global – and its gold trading mobile program – just grew its reach in the United States with the addition of a license to run in Alabama.

Tips on How to be a Great Individual Tax Client

Dent Moses

of adjusted gross income (4%, Alabama). We’ve just sent out 2021 individual tax organizers. Clients use the organizer in different ways and complete to different degrees –which is fine.

Preparing Your Business for Sales Tax Holidays

TaxConnex

States in the path of hurricanes, such as Alabama, Florida, Texas, and others, offer holidays for disaster preparedness and exempt supplies for emergencies. Many states use sales tax holidays to waive or reduce sales tax on various items.

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Forever 21 Faces Lawsuit For Allegedly Using False Sales Data

PYMNTS

Retail chain Forever 21 , now in the final stages of bankruptcy, was sued by an Alabama mall owner who said the company misrepresented critical sale projections, according to published reports Tuesday (Jan.

State Sales and Use Tax Update

TaxConnex

In Alabama , tax licenses – including for sales tax, sellers use tax and the simplified sellers use tax – must be renewed annually as of Nov. There’s always something changing or new going on in the world of tax, especially sales tax.

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PYMNTS Daily Data Dive: Walmart Pay’s Expansion

PYMNTS

Well, at least to two more states: Alabama and Georgia. 120 | Number of Walmart Alabama stores that will offer Walmart Pay. Walmart Pay is making its way across the U.S. But what does that mean for Walmart Pay’s mobile payments footprint ? We break it down in today’s 5-in-1: $45B-$60B | Amount of new sales Walmart plans to add over the next three years. 140 Million | Number of customers who shop at Walmart each week.

KSM’s Beth Scott to Speak at the 2016 Emerald Coast Veterinary Conference

Katz,Sapper&Miller

Jointly hosted by the Alabama Veterinary Medical Association and the Georgia Veterinary Medical Association, the 2016 ECVC will take place June 1-5 at the Sandestin Golf & Beach Resort Beth Scott, a director in Katz, Sapper & Miller’s Veterinary Services Group, will present at the 2016 Emerald Coast Veterinary Conference (ECVC).

Taking a Look at Sales Tax Exemptions and Why They're Important

TaxConnex

Alabama, California, Connecticut, Georgia and New York offer a half-dozen or more. Taking advantage of sales and use tax exemptions can save your business money and headaches. But exemptions can be harder to secure in some states than in others.

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FEMA is Reimbursing Up To $9,000 For Each COVID-19 Related Funeral

Dent Moses

As of January 3, 2022, FEMA received 9,077 applications from Alabama and awarded a total of $40 million on 5,962 awards. Under the Coronavirus Response and Relief Supplemental Appropriations Act of 2021 and the American Rescue Plan Act of 2021, FEMA is providing financial assistance for COVID-19 related funeral costs. The benefit is a maximum of $9,000 per deceased individual or $35,500 per applicant for multiple deaths.

3 Years Post-Wayfair: A Look Back

TaxConnex

Wisconsin prepared to require out-of-state businesses to collect sales tax by the fall, soon followed by Alabama, North Carolina, Pennsylvania, and others. June 21 marked three years since the landmark decision in the South Dakota v. Wayfair case.

4 Key Pieces of Your Sales Tax Compliance Process

TaxConnex

In a few states, most notably Alabama, Colorado, and Louisiana, there are separate local level returns that you are required to file. Both the process of reporting sales tax and the level of sales tax detail required varies from state to state.

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PNC Eyes Buying US Unit Of Spain's BBVA, Report Says

PYMNTS

BBVA bought Alabama's Compass Bancshares in 2007 and has around $100 billion in assets in the U.S., PNC Financial Services Group could buy the U.S.

Sales and Use Tax in 2020: A Look Back

TaxConnex

By September, Alabama called rising pandemic-related online shopping a “life saver” for the state’s municipal governments. Someday people will probably use a lot of words to describe 2020. “Un-eventful” Un-eventful” won’t be one of them.

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Report: Not One PPP Loan Has Been Forgiven

PYMNTS

No bank I know anywhere in the country has received any money from the SBA,” Brad Bolton, president and CEO of Community Spirit Bank in Alabama, told the news outlet.