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Four years since Wayfair: A trend takes hold

TaxConnex

In early June of 2018, sales tax news showed an industry evolving steadily but locally, as individual states, cities and even towns made most of the headlines. Then came the Supreme Court’s 5-4 decision in South Dakota v. Sales taxes in the second quarter fared little better, plunging 9.8 Wayfair, Inc.

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5 States with the Lowest Combined Business Taxes

CPA Practice

Some key factors to evaluate include: Tax rates Tax rates vary widely across states. Some states have higher corporate income tax rates, while others offer lower rates or no tax at all. Property tax rates can vary significantly, impacting the cost of owning or leasing business space.

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What Happens if You Don’t Report Cryptocurrency on Taxes?

inDinero Tax Tips

As many IRS audits and prosecutions have shown, this is not the case. Bitcoin Tax Rate: What You Need to Know As the popularity of cryptocurrency grows, so does the scrutiny of tax authorities. The Bitcoin tax rate depends on the holding period of the cryptocurrency and the taxpayer’s income tax bracket.

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What happened in sales tax in 2022

TaxConnex

But others clung to hiking sale taxes: Kentucky considered gradually replacing its individual income tax with a broader sales tax. South Dakota rejected a proposal to cut the state sales tax. Michigan lawmakers shot down proposals that would have exempted diapers and similar products. Supreme Court.

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Skagit County Business Owners: Beware the Sales Tax Nexus

SkagitCountyTaxServices

But before I dive into this, let’s make sure that your business (and your family) is also capturing every available income tax-saving strategy available right now, and do a little tax planning : Find us here: 360-424-1040. Skagit County Business Owners: Beware the Sales Tax Nexus.

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What Happens if You Don’t Report Cryptocurrency on Taxes?

inDinero Tax Tips

As many IRS audits and prosecutions have shown, this is not the case. Bitcoin Tax Rate: What You Need to Know As the popularity of cryptocurrency grows, so does the scrutiny of tax authorities. The Bitcoin tax rate depends on the holding period of the cryptocurrency and the taxpayer’s income tax bracket.

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Nexus FAQs

Withum

Supreme Court interpreted sales tax nexus under the Commerce Clause as a minimal physical connection with a state; however, in South Dakota v. The remaining five states do not impose a sales tax. Companies should understand there are methods to remediate any exposures and quickly become compliant for sales tax.