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Wayfair: Sales Tax and State Income Tax Implications

TaxConnex

Wayfair created enormous changes for businesses making remote sales into the states related to sales tax. Could Wayfair have also impacted the way you manage your state income tax obligations? Sales Tax Perspective. Sales tax nexus can be physical or economic – or both. Wayfair, Inc.

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More Than a Loophole: Delaware Sales Tax and Other Benefits of Incorporation in DE

inDinero Tax Tips

From startups to public enterprises, your bottom line is affected by your state of incorporation’s corporate income tax, excise (sales and use) tax, sales tax, physical and economic nexus tax, franchise tax, and gross income tax. Does Delaware Have Sales Tax? and 11:59 p.m.

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Trendspotting: Top Ten Payroll Issues of State Legislatures

ThomsonReuters

The bill would also increase the average annual gross volume of sales of retail stores, service industries, hotels, motels, and 16 restaurant operations from $95,000 to $500,000 to qualify for an exception. Tax credits State legislators are looking to offer businesses tax incentives for certain benefits to employees.

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What’s Hot on Checkpoint for Federal & State Tax Professionals?

ThomsonReuters

In this edition, we take a look at the recently enacted corporate alternative (book) minimum tax; new elections to convert credits to cash or tax payments; changes to the electric vehicle credit; recent legislation in Kansas, Kentucky, and Missouri; and state taxation of forgiven student loans. Not yet a subscriber?

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Shrinking the Delaware Tax Loophole: Other U.S. States to Incorporate Your Business

inDinero Tax Tips

Incorporation is a critical legal matter that impacts more than your company’s tax responsibilities for doing business. The Delaware Division of Corporations offers electronic (in-person is suspended during the COVID-19 emergency) submission of business entity documents between the hours of 7:45 a.m. Delaware does tax companies.

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Republican Senators Introduce Tax Fix Legislation for Online Sellers

CPA Practice

Sherrod Brown wants to tweak a controversial upcoming tax rule that would require third-party payment platforms to issue 1099-K forms to small business owners and entrepreneurs who have at least $600 in sales. Bill Cassidy, a Louisiana Republican, that would raise to $10,000 the sales threshold that would trigger the forms.

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