ThomsonReuters

DECEMBER 20, 2020

Under “economic nexus” rules , a company may need to register, collect sales tax, and file a state sales tax return if it passes a specified threshold, regardless of whether the company has a physical presence like storefronts, warehouses, or sales personnel in the state. Understanding economic nexus thresholds post- Wayfair.

South Dakota 72

South Dakota Sales Tax E-commerce 72

ThomsonReuters

JULY 25, 2023

Every company’s tax technology journey is different, and it’s not always clear when and how tax automation should be incorporated or what the benefits will be. And even if the project gets approved, cross-departmental discussions and support – from accounts payable, procurement, finance, IT, etc. –

Technology 93

Technology Tax audit Sales 93

ThomsonReuters

JULY 10, 2023

Jump to: What is sales tax? What is use tax? What is sales tax? What do governments do with the sales tax revenue generated? Oftentimes, much of what is collected in sales tax revenue goes into a General Fund. Changing tax regulations can also make it challenging to keep pace. Who remits sales tax?

Tax 97

Tax Sales Arizona Georgia 97

Snyder

JUNE 17, 2022

What Is Sales Tax? But before you do that, make sure you apply for a sales tax permit and that you integrate the best accounting app for Shopify with your store. All you need to do is enable sales tax in your Shopify settings and add the relevant tax rates for the states where you have nexus. Does Shopify Collect Sales Tax?

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Sales Tax E-commerce Non-Profits 52

ThomsonReuters

DECEMBER 13, 2021

If the business sells goods in any state — even if there is no physical presence in that state and the transaction is conducted entirely online — the company may still be obligated to register, collect sales tax, and file a sales tax return in that state if the economic nexus threshold is exceeded.

Tax 52

Tax Sales Technology South Dakota 52

ThomsonReuters

OCTOBER 27, 2020

COVID-19 has greatly affected sales tax revenue with the states, because many brick and mortar retailers have been forced to close their locations, either temporarily or permanently, based on the economic effects of the virus. Physical presence is not the relevant standard anymore for nexus.” They did not collect sales tax.

CPA 40

CPA South Dakota income tax Tax 40

ThomsonReuters

OCTOBER 20, 2020

Economic nexus vs. physical presence nexus. At issue in these circumstances is the concept of a tax nexus , or connection, with the state. In a state that considers the presence of an employee sufficient to establish nexus, economic nexus thresholds would be irrelevant. In 2018, the U.S.

South Dakota 40

South Dakota Sales Tax Rhode Island 40

ThomsonReuters

MARCH 8, 2021

Also, it puts into perspective what the changes Perkins implemented, with the FLSA for example, still mean to us as American workers today. The independent contractor final rule published in the Federal Register on January 7, 2021 reaffirmed the “economic reality” test with two core factors and three other factors.

payroll 52

payroll Connecticut Alabama Virginia 52

ThomsonReuters

DECEMBER 14, 2020

What level of disclosure is needed in those situations?”. “These are just proposals and what really matters is what can get through Congress,” Oaks said, “so all eyes are on the Senate runoff elections in Georgia.”. . The economic downturn is hitting state revenues, however, so tax cuts may be difficult to implement.

business tax 94

business tax Tax Montana New Hampshire 94