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Does sales tax apply to memberships?

TaxConnex

In South Carolina, membership fees to for-profit gyms can be exempt if the gym has aerobics/calisthenics, weightlifting or exercise, running tracks, racquetball and swimming pools. Throw in basketball courts, though, and the memberships incur sales tax. States don’t take membership sales tax lightly.

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2024: What’s coming up in sales tax

TaxConnex

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. States expected to be hit hardest by falling sales tax revenue are Idaho, South Dakota, Louisiana, South Carolina and Florida.

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Multi-channel selling sales tax: Wholesalers and Drop Shipping

TaxConnex

As an example, a distributor/wholesaler in Arkansas sells to a retailer in South Carolina and drop ships to the retailer’s customer in Illinois. These forms are especially important in sales tax audits. Instead, they are leveraging other suppliers/distributors who “drop ship” directly to the customer.

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Sales tax concerns if you sell through multiple channels

TaxConnex

Let’s say a supplier/distributor in Arkansas sells to a retailer in South Carolina and drop ships to the retailer’s customer in Illinois. These forms are especially important in sales tax audits. Instead, they leverage other suppliers/distributors who “drop ship” directly to the customer. And there’s an infinite number of forms.

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150 Hour Rule: Let’s Keep Arguing About What Color the Drapes Should Be While the House is Burning Down

Going Concern

Apparently South Carolina has joined them. Scrolling down we get to the important bit: First-year audit associates can expect to earn $59,000 on average this year, up from previous years, while entry-level corporate accountants can bring in $65,500 on average, according to Robert Half salary data.

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Monday Morning Accounting News Brief: Big 4 Consulting Salaries; Accounting For Dummies; PwC Boomerangs | 3.27.23

Going Concern

South Carolina’s comptroller quits after a $3.5 million) fine over lapses in its auditing work of bad-debt manager China Huarong Asset Management Co. Zhu urged Deloitte to learn a lesson from the punishment, correct mistakes and improve audit quality, according to a statement from the ministry on Sunday.

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CORO Global Brings Gold Payment App To Alabama

PYMNTS

With the approval in Alabama, CORO is now available in the Apple App Store and Google Play store to residents in 13 states: Florida, Alabama, Arizona, Arkansas, Alaska, Delaware, Idaho, Montana, Massachusetts, Oregon, South Carolina, Washington State and Wisconsin.

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