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2024: What’s coming up in sales tax

TaxConnex

The new year will no doubt be another active one in sales tax. Weaker state revenue The kind of year it’s going to be for state coffers could greatly influence such future sales tax trends as new levies, tougher nexus thresholds and intensifying audits. Overall, state tax revenues dropped 5.3%. If so, watch out for 2024.

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Does sales tax apply to memberships?

TaxConnex

Clubs and dues have been around for decades, but the rise of certain memberships – and the ability to sell them over the internet – have also raised the question of whether memberships incur sales tax. Health and fitness club In some states membership in one of these creates a sales tax obligation; in others it doesn’t.

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What’s new in sales tax?

TaxConnex

There’s always something changing in the world of tax, especially sales tax. The Court of Appeals of South Carolina has affirmed a state Administrative Law Court (ALC) finding that the online retail giant remains liable for eight figures in unpaid sales tax on third-party sales from 2016, interest and penalties.

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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. Nationwide , the Streamlined Sales Tax Governing Board has made amendments to the Streamlined Sales and Use Tax (SST) Agreement to revise its amnesty-related provisions. It’s reported to bring about $9 million in revenue annually.

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Sales Tax Issues for Online Retailers

Withum

It is no surprise that states are seeing significant growth in sales tax revenue, a trend fueled by changes in consumer spending during the pandemic. The third reason for higher sales tax revenue was the Wayfair decision in which the Supreme Court expanded the physical nexus requirement to include economic nexus (e.g.,

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Handling Sales Tax In-House: Job Market Challenges Continue

TaxConnex

The explosion of the e-commerce market alone would’ve made handling sales tax obligations in-house tough. Due to all of the above, it’s hard to fill any position at this point, but a job with specific skills, especially with experience managing sales and use tax, can be downright impossible. Nearly 8% growth was expected in 2021.

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Four years since Wayfair: A trend takes hold

TaxConnex

The Supreme Court Wayfair decision four years ago gave tax jurisdictions the sudden power to require countless companies to collect and remit sales tax. In many respects, Wayfair also opened the path to levying additional kinds of tax obligations on businesses that sell online as eCommerce becomes more and popular.