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2024: What’s coming up in sales tax

TaxConnex

States expected to be hit hardest by falling sales tax revenue are Idaho, South Dakota, Louisiana, South Carolina and Florida. In 2021, Wisconsin and Maine both removed their transaction threshold; in 2023, South Dakota and Louisiana joined suit. Delivery fees “Sales taxes” are starting to take different forms.

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Hot Topics: Economic Nexus Thresholds and Reporting Requirements | TaxConnex

TaxConnex

Louisiana and South Dakota, for instance, have repealed their 200-transaction thresholds (Louisiana’s repeal took effect last Aug. Of Alaska’s 162 municipal governments, approximately 110 already levy some variety of sales tax.) (Of Alaska’s 162 municipal governments, approximately 110 already levy some variety of sales tax.)

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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. Alaska is one of the states without a statewide sales tax, but the banding together of these local jurisdictions have created a headache for remote sellers. Local ‘nightmares’?

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What’s new in sales tax?

TaxConnex

Highs and lows: According to The Tax Foundation’s most recent analysis , the five states with the highest average combined state and local sales tax rates are Tennessee (9.548%), Louisiana (9.547%), Arkansas (9.44%), Washington (9.4%) and Alabama (9.24%). billion for August, $39.4 million less than estimated and $1.7 Effective next Jan.

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Home Rule: Can Local Jurisdictions Create Sales Tax Obligations?

TaxConnex

One of the most recent headline locales for home rule is Alaska , where local jurisdictions have formed the Alaska Remote Seller Sales Tax Commission to administer the collection and remittance of local sales tax. Louisiana has similarly established a commission for remote sellers to serve as a single collection entity.

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Can an eCommerce platform alone manage sales tax?

TaxConnex

Examples of states with home rule are Alabama, Louisiana, Illinois, Colorado and Alaska. Louisiana home-rule locations largely follow their state-wide tax treatment for TTP. Yet again, this can vary.

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How the 50 States Rank By Tax Burden

CPA Practice

A new study by WalletHub revealed that residents of New York state are burdened by taxes the most among the 50 states, while Alaska residents have the lowest tax burden. The following are some key findings from WalletHub’s study: As previously stated, New York has the highest overall tax burden, while Alaska has the lowest.