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What’s new in sales tax?

TaxConnex

California has the highest statewide sales tax rate, at 7.25%. The lowest non-zero state-level sales tax is in Colorado, which has a rate of 2.9%. South Dakota cut its state sales tax rate from 4.5% The enhanced its map of sales and use tax lookup rates.

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COVID-19 and the Wayfair impact on CPA advisory

ThomsonReuters

They’re going to do so under these economic nexus laws, which was what we were seeing with the Wayfair case with South Dakota’s economic nexus law. A company like Wayfair, obviously with internet sales, had no physical presence whatsoever in the state of South Dakota,” added Shaun.

CPA 40