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Monthly State Sales and Use Tax Update

TaxConnex

The growth rate for all Tennessee taxes in August was 22.11 Sales tax revenues and state corporate tax receipts (franchise and excise taxes) both posted substantial growth. In Georgia , tax collections were up 12.7% The gross sales tax take finished 15.9% August revenues were $1.4 billion, $255.8

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What was new in October for state sales and use taxes

TaxConnex

For tax years beginning on or after Jan. 1, 2022, businesses have nexus with New York City and are subject to the City’s business corporation tax if they have at least $1 million in New York City receipts. Under Virginia law, software delivered electronically via the Internet is exempt from sales tax.

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Two data-driven strategies to mitigate geopolitical risk

ThomsonReuters

At the 2022 Reuters Supply Chain Execution Conference , Thomson Reuters’ experts, Satnam Singh and Virginia Thompson described how using data-led strategies could help alleviate much of this geopolitical risk pressure. CBP issued its guidance for exceptions on June 13, a week before the law went into effect.

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4 Ways Finance and Accounting Pros Can Adapt Now to Working With Generative AI

CPA Practice

Consider recent research conducted by Thomson Reuters Institute that found one in 10 professionals in accounting firms and corporate tax departments are already using some form of generative AI on a widescale basis. Saah earned a finance degree from Virginia Tech.

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5 States with the Lowest Combined Business Taxes

CPA Practice

5 states with the lowest total tax burden for businesses While each state has its own tax structure, several states stand out for their favorable business tax environment. Here are five states renowned for their low taxes for businesses: 1. Florida also provides tax breaks and incentives for startups.

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Copy Amazon’s $0 Tax Strategy! How to Write Off Taxes (Easy Guide)

LyfeAccounting

Because Amazon will provide thousands of jobs and a great deal of attention to any city it chooses, states and cities are willing to offer up huge tax savings for them to locate there. Amazon ultimately decided to choose Virginia due to Virginia having what some call the best tech workforce in the nation. This claim is false.

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Sales and Use Tax Updates from March

TaxConnex

Tennessee finance leaders might have overpredicted COVID’s impact on the state’s revenue: February tax collections were 11% higher than the same month in 2020, just before the pandemic disrupted the economy. Revenues from online sales taxes boosted monthly growth rate with approximately $44.5