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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. California state income tax return.”.

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Court rules Corporate Transparency Act unconstitutional: What's next

Accounting Today

An Alabama federal district court held that the Corporate Transparency Act is unconstitutional, stating it "exceeds the Constitution's limits on Congress' power."

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State Sales and Use Tax Update

TaxConnex

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

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4 Key Pieces of Your Sales Tax Compliance Process

TaxConnex

These states’ returns can be quite lengthy as you may be required to itemize by county or city or district how the sales tax should be applied across these various jurisdictions. In a few states, most notably Alabama, Colorado, and Louisiana, there are separate local level returns that you are required to file.

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Monday Morning Accounting News Brief: EY Embarrasses Itself (Again); Archaic IRS Tech; Partners Battle It Out | 2.27.23

Going Concern

The study is authored by Richard Hatfield from the University of Alabama, Curtis Mullis of Georgia State University, and Ken Trotman from the University of New South Wales. accounting and finance professionals are concerned about the accuracy of their company’s monthly financial statements; one in three U.K.

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

TaxConnex

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. 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.

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What exactly is indirect tax?

ThomsonReuters

for example, does not have a federal sales tax, but taxes may be applied at the state and regional levels. States with the highest average local sales tax rates include Alabama, Louisiana, Colorado, New York, and Oklahoma.

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