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Legalization and Taxation of Cannabis

TaxConnex

Legalization of cannabis and how it would be taxed has been a discussion for many years. But as states continue to pass laws legalizing the sale of cannabis, the businesses trying to capitalize on the market are struggling with the complexities of taxation as it differs from other sales. Ever-changing scene nationwide.

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Sales tax and Marketplaces: Who owns the responsibility?

TaxConnex

TikTok: As a marketplace facilitator, TikTok may be congressionally embattled but is legally required to calculate, charge and collect applicable sales taxes on all sales made through its retail arm, TikTok Shop, which enables product discovery, checkout and post-payment activities from within the TikTok app.

Sales 164
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Services: Taxable or not?

TaxConnex

Professional services” comprise legal work, medical care, accounting and other services from licensed specialists. Connecticut makes it easy: They levy sales tax on dozens of services, almost any you could name, from cleaning windows, pools and clothes to lobbying, flight instruction and private investigation.

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Connecticut Learns From NY’s Payroll Card Strifes

PYMNTS

28) said Connecticut is preparing for a new statute to legalize payroll cards. Connecticut is also ensuring that, while payroll cards can expire, the funds loaded onto them cannot, and lost cards can be replaced once a year when an employee makes such a request. Reports on Wednesday (Sept. The statute comes into effect Oct.

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Is Tax Relief on the Horizon for Marijuana Businesses?

CPA Practice

It doesn’t matter that the use and sale of marijuana are legal under the laws of the state where the business is located. Twenty-three states and the District of Columbia, have legalized marijuana for recreational use, and about forty states permit the drug for medical use.

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Accounting Marketing Firm Wins Two Awards

CPA Practice

formerly Edge Legal Marketing and Accounting Edge Marketing), a Minneapolis-based public relations and marketing firm serving the needs of organizations in the legal and accounting industries, has been named a gold winner in two categories of the prestigious MarCom Awards. Edge Marketing, Inc.

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The Benefits of Delayed Business Filings

CPA Practice

A delay allows business owners to specify a future effective date on their registration forms, granting them control over when their company officially becomes a legal entity. In a delayed filing, the business controls when the company officially becomes a legal entity. Let’s look at both options.