TaxConnex

MARCH 24, 2022

As market conditions continued to evolve and more and more buyers moved their purchasing options online, states started to introduce the concept of economic nexus – especially after the Supreme Court’s 2018 ruling in the South Dakota vs. Wayfair case. It is best to consult with a sales tax expert or CPA to find the most updated laws.

South Dakota 173

South Dakota Nevada Missouri Minnesota 173

CPA Practice

APRIL 5, 2024

South Carolina $1,326,469 $416,183 31.4% North Dakota $1,523,518 $422,314 27.7% South Dakota $1,390,105 $380,130 27.3% Connecticut $1,731,261 $855,307 49.4% Vermont $1,442,094 $651,434 45.2% New York $1,658,872 $748,199 45.1% Massachusetts $1,857,438 $816,700 44.0% New Hampshire $1,674,402 $722,610 43.2%

West Virginia 126

West Virginia Rhode Island South Dakota North Dakota 126

CPA Practice

AUGUST 4, 2023

South Dakota If you win the Mega Millions jackpot or any other lottery in South Dakota, you won’t have to pay any state tax on your winnings because the state doesn’t have a personal income tax. Additionally, there are several sales tax holidays and grocery tax relief programs available to residents.

South Dakota 98

South Dakota New Hampshire Wyoming income tax 98

TaxConnex

AUGUST 15, 2023

South Dakota cut its state sales tax rate from 4.5% The failure to file was based on the advice of a CPA employed by the taxpayer, who subsequently hired a new CPA firm and began correctly filing state returns for both sales tax and corporate income tax. California has the highest statewide sales tax rate, at 7.25%.

Sales 130

Sales Tax Alabama Texas 130

CPA Practice

APRIL 26, 2024

Stats the agency released today about Direct File’s results, user feedback, and costs include: 140,803 taxpayers in the 12 states involved in the pilot program—Arizona, California, Florida, Massachusetts, Nevada, New Hampshire, New York, South Dakota, Tennessee, Texas, Washington, and Wyoming—filed their federal tax returns through the new service.

South Dakota 110

South Dakota Tax New Hampshire Wyoming 110

CPA Practice

JULY 24, 2023

New Hampshire and South Dakota had the lowest jobless rates last month, at 1.8%. Half of U.S. states were experiencing record-low unemployment — or very close to it — in June, underscoring the strength of the nation’s labor market. The unemployment rates in 25 states are currently at or within 0.1

South Dakota 98

South Dakota New Hampshire Mississippi Idaho 98

CPA Practice

APRIL 9, 2024

As an accountant or CPA, you play a vital role in: Calculating and withholding taxes correctly. Employers are still accountable for withholding federal income taxes in the eight states that don’t collect state income tax (Wyoming, Washington, Texas, Tennessee, South Dakota, Nevada, Florida, and Alaska).

payroll tax 110

payroll tax West Virginia payroll cpas 110

CPA Practice

JUNE 6, 2023

While private equity firms getting into bed with accounting firms has been all the rage lately , the Creative Planning/BerganKDV deal is believed to be the first involving a wealth management firm purchasing a large CPA firm. Never before has a top 60 CPA and advisory firm been acquired by a major wealth management firm.

South Dakota 52

South Dakota cpa firm Nebraska Iowa 52

CPA Practice

JUNE 6, 2023

While private equity firms getting into bed with accounting firms has been all the rage lately , the Creative Planning/BerganKDV deal is believed to be the first involving a wealth management firm purchasing a large CPA firm. Never before has a top 60 CPA and advisory firm been acquired by a major wealth management firm.

South Dakota 52

South Dakota Minnesota cpa firm Nebraska 52

CPA Practice

MARCH 4, 2024

Currently, only taxpayers in Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Wyoming, Arizona, California, Massachusetts, New York, and Washington are likely to be eligible. Note, too, that taxpayers hoping to participate will also need to have a relatively simple tax return and specific types of income.

South Dakota 64

South Dakota New Hampshire Wyoming Nevada 64

TaxConnex

NOVEMBER 17, 2020

Economic nexus is a much bigger consideration – and it has been since 2018, when the US Supreme Court upheld in South Dakota v. You can also contact your CPA, your current sales tax compliance partner or monitor changing thresholds on our economic nexus guide. Develop your go-forward strategy for both the short- and long-term.

Sales 143

Sales South Dakota Tax Retail 143

Anders CPA

MAY 15, 2023

Contact Anders The post Employer Payroll Tax Obligations When Employees Work Out-Of-State appeared first on Anders CPA. Each state has its own requirements for withholding taxes for out-of-state employees.

payroll tax 52

payroll tax payroll South Dakota Rhode Island 52

SkagitCountyTaxServices

NOVEMBER 17, 2021

Well, that’s when our high court agreed with the state of South Dakota, which had long claimed that Wayfair owed sales tax from tons of transactions in that state. Padgett & Padgett, PLLC CPA. The post Skagit County Business Owners: Beware the Sales Tax Nexus appeared first on Padgett & Padgett, PLLC CPA's.

South Dakota 52

South Dakota Sales Tax E-commerce 52

CPA Practice

APRIL 11, 2024

But the IRS cracks down on such populations with gusto, auditing counties in predominantly Black and rural regions of the Deep South most frequently. In fact, the audit rates in these areas were more than 40 percent above the national average.”

South Dakota 98

South Dakota audit tax preparation Legal 98

Anders CPA

SEPTEMBER 28, 2022

Arizona Connecticut District of Columbia Hawaii Iowa Louisiana (1/1/2023) Massachusetts Maryland Minnesota Mississippi New Mexico New York Ohio Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Washington West Virginia. appeared first on Anders CPA. Anders State and Local Tax services.

Rhode Island 52

Rhode Island West Virginia South Dakota South Carolina 52

Anders CPA

MAY 23, 2023

Take note that nine states do not have a state income tax, so it is unnecessary to withhold funds in Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming. Contact Anders The post An Employer’s Guide to Multi-State Payroll Tax Withholding for Remote Workers appeared first on Anders CPA.

payroll tax 98

payroll tax payroll Rhode Island Tax 98

Withum

AUGUST 24, 2023

Currently, the states without an income tax include Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming. Author: Nicole Angiuoli , CPA | nangiuoli@withum.com Contact Us Although state income tax planning is just one consideration for a liquidity event, it can often result in income tax savings.

income tax 52

income tax tax planning South Dakota Wyoming 52

Withum

SEPTEMBER 16, 2022

South Dakota v. Author: Bonnie Susmano , JD, CPA | bsusmano@withum.com. The third reason for higher sales tax revenue was the Wayfair decision in which the Supreme Court expanded the physical nexus requirement to include economic nexus (e.g., Wayfair, Inc. – 138 S. 2080 (2018). Compliance Complexities. Contact Us.

Sales 80

Sales Retail Tax South Dakota 80

CPA Practice

JULY 11, 2023

Supreme Court ruled in favor of the state in South Dakota v. When the U.S. Wayfair, Inc., in 2018, it expanded the complexity of sales tax obligations for many businesses.

Technology 98

Technology South Dakota Tax sage accounting 98

Going Concern

SEPTEMBER 15, 2023

Sioux Falls CPA firm marks century in business [ SiouxFalls.Business ] The fourth-generation Sioux Falls firm Nelson & Nelson CPAs celebrates 100 years in business, providing tax, accounting, payroll and bookkeeping services. Nelson & Nelson CPAs is the oldest existing accounting firm established in South Dakota.

audit 111

audit Colorado CPA Texas 111

SkagitCountyTaxServices

AUGUST 24, 2022

Also, I’d like to think we here at Padgett & Padgett, PLLC CPA could be one of your village helpers, too. More than nine hundred and forty million is now headed to Arizona, Connecticut, Indiana, Maine, New Hampshire, Pennsylvania, South Carolina, South Dakota, and Vermont. Ready for some help?

West Virginia 71

West Virginia South Dakota Connecticut South Carolina 71

KROST

JANUARY 13, 2021

In the case of “South Dakota v. Cohn, CPA, Senior – Accounting. Jonathan Cohn, CPA is a senior staff accountant at Krost where he specializes in trust accounting, restaurant accounting and ancillary tax forms such as sales tax, Form 8027, and Form 571-L. Two years ago, the Supreme Court changed its mind. Jonathan A.

Sales 66

Sales Tax South Dakota tax return 66

CPA Practice

OCTOBER 18, 2023

However, on June 21, 2018, the Supreme Court of the United States overruled the physical presence requirement in its decision in South Dakota v. It used to be based on physical presence alone. Wayfair, Inc.

Sales 59

Sales South Dakota Tax Missouri 59

CPA Practice

JANUARY 17, 2024

Lawyers Artists Accountant Doctors Data Analysts Alabama Lawyers Accountant Artists Doctors Data Scientists Alaska Artists Lawyers Accountant Radiologists Data Scientists Arizona Lawyers Artists Doctors Accountant Data Analysts Arkansas Artists Accountant Lawyers Software Developers Data Analysts California Lawyers (..)

North Dakota 58

North Dakota Rhode Island West Virginia South Dakota 58

CPA Practice

DECEMBER 19, 2023

States with tighter schedules include Illinois and New York (up to 60 days) and Virginia (up to 15 days).

Rhode Island 116

Rhode Island West Virginia South Dakota North Dakota 116

CPA Practice

JANUARY 17, 2023

Since the Supreme Court ruling on the South Dakota v. Is There Nexus? Wayfair case in 2018, expanding a business to make sales in another state establishes economic nexus for your clients and extends their compliance requirements.

South Dakota 111

South Dakota income tax Legal payroll tax 111

CPA Practice

JULY 12, 2023

Plus, currently, nine states do not levy a state income tax: Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming, although Washington does impose a state capital gains tax. Some states have a progressive tax rate based on salary, while others charge a flat SIT rate.

income tax 98

income tax Tax South Dakota Alaska 98

CPA Practice

JANUARY 29, 2024

Starting later this year, taxpayers in 12 states — Arizona, California, Florida, Massachusetts, New Hampshire, Nevada, New York, South Dakota, Tennessee, Texas, Washington, and Wyoming — will have access to a new program from the IRS called Direct File.

tax preparation 105

tax preparation tax return South Dakota Arizona 105

PYMNTS

MARCH 15, 2019

In January, reports said CPAs had urged the Internal Revenue Service (IRS) to further clarify the rules , despite having issued previous guidelines to address some of the uncertainty. “There’s a lot of conflicting advice out there,” said RLB Accountants CPA Jeffrey Berdahl in an interview with the publication at the time.

Tax 77

Tax Account accountant accounted 77

CPA Practice

OCTOBER 18, 2023

South Dakota: A business-friendly environment South Dakota has gained recognition for its business-friendly policies and tax advantages. It offers a favorable tax structure, including a low corporate tax burden and no personal income tax. Florida also provides tax breaks and incentives for startups.

business tax 59

business tax Tax Alaska South Dakota 59

CPA Practice

OCTOBER 17, 2023

Taxpayers in nine other states without an income tax—Alaska, Florida, New Hampshire, Nevada, South Dakota, Tennessee, Texas, Washington, and Wyoming—are also eligible to participate in the pilot program. In addition, the state of Washington agreed to join the integration effort for its application of the Working Families Tax Credit.

tax return 116

tax return Tax South Dakota tax preparation 116

CPA Practice

APRIL 12, 2023

State-by-state estimates of individuals who may be due 2019 income tax refunds State or District Estimated Number of Individuals Median Potential Refund Total Potential Refunds * Alabama 23,900 $880 $23,694,700 Alaska 6,000 $917 $6,542,300 Arizona 35,400 $824 $33,911,500 Arkansas 12,800 $864 $12,586,100 California 144,700 $856 $141,780,000 Colorado (..)

Rhode Island 122

Rhode Island tax return Tax West Virginia 122

CPA Practice

FEBRUARY 16, 2023

Supreme Court decision in South Dakota v. They don’t compete with their clients’ accounting and tax firms, but instead work with them to provide the most accurate data possible; they get things CPA-ready. They also help integrate third-party apps into QuickBooks, including TSheets, Fishbowl, Tipalti, Avalara, and Bill.com.

Sales 52

Sales Tax South Dakota bookkeeping 52

CPA Practice

JANUARY 17, 2023

Supreme Court decision in South Dakota v. Sales taxes continue to be one of the most dynamic and risk prone areas of business operations, particularly since so many businesses are still not fully aware of their compliance requirements. Nearly five years following the U.S. Wayfair, Inc.,

Technology 98

Technology Sales Tax South Dakota 98

CPA Practice

APRIL 14, 2023

State or District Estimated Number of Individuals Median Potential Refund Total Potential Refunds * Alabama 23,900 $880 $23,694,700 Alaska 6,000 $917 $6,542,300 Arizona 35,400 $824 $33,911,500 Arkansas 12,800 $864 $12,586,100 California 144,700 $856 $141,780,000 Colorado 30,100 $859 $29,514,000 Connecticut 15,400 $934 $16,198,400 Delaware 5,700 $880 (..)

Rhode Island 52

Rhode Island West Virginia South Dakota North Dakota 52

CPA Practice

APRIL 13, 2023

State or District Estimated Number of Individuals Median Potential Refund Total Potential Refunds * Alabama 23,900 $880 $23,694,700 Alaska 6,000 $917 $6,542,300 Arizona 35,400 $824 $33,911,500 Arkansas 12,800 $864 $12,586,100 California 144,700 $856 $141,780,000 Colorado 30,100 $859 $29,514,000 Connecticut 15,400 $934 $16,198,400 Delaware 5,700 $880 (..)

Rhode Island 52

Rhode Island West Virginia South Dakota North Dakota 52

CPA Practice

MAY 17, 2023

The exceptions to that rule are Delaware, Hawaii, Illinois, Iowa, Minnesota, New Hampshire, New Jersey, New York, North Dakota, Ohio, Pennsylvania, and South Dakota. Most states tax personal property owned by businesses and require businesses to complete and file a personal property rendition every year.

South Dakota 105

South Dakota North Dakota Real Estate Washington 105