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What was new in October for state sales and use taxes

TaxConnex

Halstead Bead , a small craft and jewelry wholesaler, has filed an appeal with the Fifth Circuit in the ongoing challenge to Louisiana’s sales tax system, which requires remote sellers to comply with local tax laws for 63 parishes. Supreme Court. Best and worst.

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Monthly Sales and Use Tax Update

TaxConnex

Louisiana lawmakers have recently passed H.B 199, which would establish a centralized sales tax commission. Right now the state allows parishes to independently collect their own sales and use taxes from in-state businesses while the Louisiana Remote Sellers Commission collects for out-of-state sellers.

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Steve Padgett’s Three Business Tax Penalties To Avoid When Possible

SkagitCountyTaxServices

With May 17th behind us (though for those in Texas, Louisiana and Oklahama — this was just another day. But before we leave taxes in the rearview, let’s address an unfortunate reality: as a business owner, you have a greater number of tax reporting obligations than a regular person has. (Of

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Southern Illinois University Wins 21st Annual Deloitte FanTAXtic National Case Study Competition

CPA Practice

A team of students from the Southern Illinois University, Carbondale, claimed victory at the Deloitte FanTAXtic national case study competition by presenting the best analysis on a complex, issues-driven business tax case.

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Milestones for S Corporation Election

CPA Practice

For example, it makes sense to suggest electing S Corp status to your clients when their self-employment tax burden exceeds the tax burden if the corporation converted to an S Corp. Other factors to consider include which states do or do not recognize S Corps at the state level.

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How to File Income Tax Return: Tax Filing Preparation Guide 2022

Snyder

Note: The important thing is that the United States income tax rates are marginal , which just means that each tax rate applies to only one part of your income. . Income tax calculations are reflected in the business tax return. In the USA, the IRS or local tax agencies play the role of such authority.

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How Online Sales Tax Impacts Different eCommerce Models

PYMNTS

States can now tax sales by companies that do not have a physical presence within the state. One state might tax a product that another excludes from levies, for example, and not all states offer the same small business tax exemptions. Will this increasingly regulated online sales tax environment affect this growth?