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How to register for states’ sales tax

TaxConnex

Some states charge nothing to register electronically but do charge for paper registrations (many states also require electronic filing and sales tax remittance, too). Among other states, Nevada’s security formula is complicated, with a $1,000 tax-due threshold and the amount calculated by frequency of filing.

Sales 169
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Is Tax Relief on the Horizon for Marijuana Businesses?

CPA Practice

Section 280E of the federal tax code bars marijuana firms from claiming business expenses on their federal tax return other than for their cost of goods sold. It doesn’t matter that the use and sale of marijuana are legal under the laws of the state where the business is located.

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

Snyder

State income taxes. Business income taxes. Local income taxes. Assessment tax return and short tax return. Income tax deadlines. Income tax extension: when is the last day to file income tax? Federal income tax brackets 2021 vs IRS income tax brackets 2022.

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Understanding sales tax permits

TaxConnex

Among other states, Nevada’s security formula is especially complicated; Colorado has a refundable deposit. The challenges Generally, you need to pin down several details no matter what tax jurisdiction you’re registering with. Should you register for sales tax, seller’s use tax or consumer’s use tax?

Sales 147
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$1.5 Billion in Unclaimed Tax Refunds from 2019 Set to Expire in July 2023, Says IRS

CPA Practice

million people across the nation (state-by-state list below) have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return. billion in refunds remain unclaimed because people haven’t filed their 2019 tax returns yet. Need to file a 2019 tax return?

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How to manage sales tax obligations

TaxConnex

Your compliance process should start with identifying sales tax nexus and determining taxability of your products and services in those states where you have sales tax nexus. You then need to create a billing process to apply tax to your invoice, manage your sales tax-exemption certificates and prepare and file sales tax returns.

Sales 130
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$1.5 Billion in Refunds From 2019 Remain Unclaimed, IRS Says

CPA Practice

have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return, the IRS said on Wednesday. billion in refunds remain unclaimed because people have not filed their 2019 tax returns yet. People face a July 17 deadline to file their returns. million people across the U.S.