AccountingDepartment

APRIL 11, 2024

As small and medium-sized businesses undergo rapid expansion and growth, they are often faced with a myriad of sales tax challenges, particularly within the retail and e-commerce sectors.

E-commerce 84

E-commerce Tax Sales Retail 84

TaxConnex

DECEMBER 7, 2023

There’s always something changing in the world of tax, especially sales tax. Well into the black: Black Friday 2023 e-commerce spending jumped 7.5% Gains in sales tax revenue are becoming spottier in general – especially on the local level – but not statewide everywhere. from a year earlier to a record $9.8

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Sales Tax West Virginia South Dakota 147

TaxConnex

OCTOBER 26, 2023

Sales tax is a major obligation for your business. Sales tax rates and taxability rules differ by state and even locality. Software that has the rates and taxability rules built-in helps make sure you charge the right sales tax with each purchase. Sales tax calculation software does make sense. Applying sales tax.

Technology 147

Technology Sales Tax E-commerce 147

TaxConnex

AUGUST 19, 2021

In the fall of 2020, I published an article on how the sales tax picture is changing due to COVID-19. Now that we’re over a year into the pandemic, I wanted to provide an update on the sales tax landscape, what predictions have remained the same and what’s changed. E-commerce. sales tax economic nexus on remote sellers.

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Sales E-commerce Tax Missouri 232

ThomsonReuters

NOVEMBER 15, 2021

Corporate tax teams responsible for collecting, managing, and paying indirect taxes face numerous challenges in today’s fractious tax landscape. For all too many managers, their days are filled with the stress of keeping pace with various changes in the indirect tax space. Indirect taxes: Much more than just a process.

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E-commerce Technology Tax corporation tax 52

TaxConnex

JANUARY 27, 2022

The explosion of the e-commerce market alone would’ve made handling sales tax obligations in-house tough. Due to all of the above, it’s hard to fill any position at this point, but a job with specific skills, especially with experience managing sales and use tax, can be downright impossible. Long term, U.S.

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Sales E-commerce Tax Florida 163

TaxConnex

AUGUST 29, 2023

Online selling of products and services has always been in the vanguard of sales tax obligations. And of course, states’ thresholds vary widely, as do what products or services each state or tax jurisdiction considers taxable. The industry depends on several terms regarding how sales tax impacts the industry.

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Sales E-commerce Tax Manufacturing 130

TaxConnex

DECEMBER 20, 2022

Shopify is one of the most popular e-commerce platforms. The e-commerce website builder claims that more than 1.7 What about sales tax? Shopify is not required to collect and remit sales tax for its sellers, as it is not a marketplace facilitator like Amazon, eBay, or Etsy. Doesn’t file or remit.

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TaxConnex

JULY 8, 2021

Many states use sales tax holidays to waive or reduce sales tax on various items. Location, location, location is the rule when it comes to sales tax holidays. The holidays may only cover state sales tax but not local sales taxes, as in South Carolina (which, like other states, has no price cap on eligible items).

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Sales South Carolina Tax E-commerce 197

TaxConnex

OCTOBER 14, 2021

The majority of businesses still manage their sales tax obligations with internal staff, but do they have what it takes to manage sales tax effectively? Most businesses, especially smaller ones, don’t have or can’t afford a full sales tax department in these days of tight resources. Keeping track of all the deadlines.

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Sales Tax E-commerce Start-ups 182

TaxConnex

APRIL 4, 2024

Now, almost six years after the landmark Wayfair case ignited sales tax obligations for more remote sellers, one of those numbers might be falling out of favor. Since the Supreme Court’s decision in 2018, almost all states with economic nexus opted to have dollar volume of sales as one trigger for sales tax obligations.

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South Dakota North Dakota Wisconsin Iowa 207

Withum

SEPTEMBER 6, 2022

Unprecedented e-commerce opportunities have presented themselves to the multi-billion-dollar cannabis industry. Increasing in popularity, e-commerce is significantly influencing and accelerating cannabis businesses globally. E-commerce has also allowed cannabis retailers to expand their consumer base.

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E-commerce Management Consulting Retail Transportation 52

TaxConnex

MARCH 21, 2023

The use of internal resources still seems the way to go for most companies struggling to meet their sales tax filing and remittance obligations. Staying on top of the ever-evolving sales tax landscape takes constant time and attention. The shortage starts at the highest level of tax compliance and trickles down.

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Snyder

SEPTEMBER 14, 2022

Managing an e-commerce business may be both a blessing and a curse. Even a small mistake may cause a ton of problems and result in a penalty if the discrepancies are noticed by the IRS during the tax season. to store detailed information from all the channels in use in one source of truth. Multi-currency management. –

E-commerce 52

E-commerce Account accountant accounted 52

Menzies

AUGUST 1, 2022

As the e-commerce industry continues to rise due to significant advances in technology, there are endless opportunities to be had with starting your own ecommerce business or moving your existing business online. Need help or guidance with starting your own e-commerce business, or moving online? Finding the right product.

E-commerce 52

E-commerce chartered accountant Retail Manufacturing 52

Snyder

OCTOBER 30, 2022

Taxes add a big chunk to this plate. Tax filing deadlines and taxes themselves become a really big deal for e-commerce business owners, adding even more stress to their busy lives. But is there a way to escape tax filing season disturbance? How much do small businesses pay in taxes? Contents: 1.

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FusionCPA

NOVEMBER 8, 2020

However, if you do decide to drop-ship your goods, there are accounting and tax details you should be aware of. Our team of e-commerce accountants is able to assist with drop-ship accounting and understand the complexities associated with this method of shipping.

E-commerce 52

E-commerce Account accountant accounted 52

TaxConnex

FEBRUARY 10, 2022

In a little more than three years since the Supreme Court’s Wayfair decision , multi-state sales tax has gone from a simple obligation for some companies that were based solely in one state to a nightmare of complying with 50 different states’ sales tax rules. Also with some states, you must specify the tax you’re registering for (e.g.,

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Sales Tax E-commerce Alaska 200

TaxConnex

AUGUST 24, 2021

In the world of sales tax, they’re major marketplace facilitators. Marketplace facilitators are required to charge sales tax where they have nexus (the connection between a tax authority and a company). It wasn’t long before states recognized that there was still a large portion of internet-based sales that weren’t being taxed.

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Sales South Dakota Tax South Carolina 213

Snyder

JANUARY 2, 2023

As a responsible business owner, now you’re wondering how to choose an e-commerce payment gateway. Keep reading to learn more about the best Square Terminal alternatives for your e-commerce business. Shopify, an e-commerce company, is in a league of its own. What is a virtual terminal for online businesses?

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E-commerce quickbooks Technology accounting and finance 52

TaxConnex

JANUARY 11, 2022

It’s one of the most important aspects of an online business – and one of the wackiest when trying to determine whether sales tax applies or not. In the winter, e-commerce jumped 96% year-to-year from 2020 to 2021. But as most things in sales tax, this isn’t always the case, it depends on the situation and jurisdiction.

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Rhode Island Sales Tax South Dakota 181

TaxConnex

MARCH 16, 2023

Many manufacturers, wholesalers, and distributors believe they have minimal sales tax obligations due to the likelihood of  sales tax-exempt transactions. The concept to consider is whether the sales by these types of businesses are exempt or not from sales tax collection. There could be a sales tax obligation here as well.

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Manufacturing Sales Tax E-commerce 130

TaxConnex

MAY 4, 2021

But don’t forget that success that comes from selling into more states can also expand your sales tax burdens. Businesses that sell into multiple states or jurisdictions have to pay attention to sales tax thresholds, and it’s not a one-time project. connection a business has with a state or taxing jurisdiction. Physical nexus?means

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Sales Tax South Dakota audit 246

Snyder

JULY 21, 2022

Nowadays, it’s common for e-commerce brands to have not one platform, but many that they are selling goods from. Many companies will try to enter large numbers of transactions at once manually, opening them up to potential typing errors, or some will even wait until tax time to pull all their records together.

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E-commerce quickbooks bookkeeping accounting software 52

TaxConnex

DECEMBER 9, 2021

Wholesalers and manufacturers/distributors have some big advantages regarding sales tax compliance – but they can also have hidden obligations. Sales made through your own website will be subject to sales tax once you’ve established nexus. you are required to collect sales tax from customers based in those locations.

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Manufacturing Sales Tax E-commerce 182

TaxConnex

SEPTEMBER 23, 2021

This industry has ridden the wave of e-commerce and the growing expectation among shoppers that much of what they want to buy can come right to their door. With booming sales across the country, businesses need to focus on if and how these subscription boxes are taxed. How is sales tax managed for this growing industry?

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Sales Tax E-commerce Retail 167

TaxConnex

MAY 26, 2022

However, certain exemptions could apply making the sale of TPP exempt from sales tax in some situations. The buyer wants to make the original purchase exempt from sales tax, and they expect to then charge sales tax when they sell the item. Sales tax obligations start with nexus. Assessing your footprint.

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South Dakota South Carolina Sales Illinois 167

TaxConnex

MARCH 10, 2022

But what exactly is economic nexus – and, more importantly, have you kept up with its constant changes in the sales tax realm? Sales tax nexus is the connection your business has with a state or local taxing jurisdiction. It can be physical in the form of one of your offices actually being in a state or other tax jurisdiction.

South Dakota 188

South Dakota Sales Tax Maryland 188

TaxConnex

JUNE 21, 2022

The Supreme Court Wayfair decision four years ago gave tax jurisdictions the sudden power to require countless companies to collect and remit sales tax. In many respects, Wayfair also opened the path to levying additional kinds of tax obligations on businesses that sell online as eCommerce becomes more and popular.

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South Dakota E-commerce Alaska Missouri 185

TaxConnex

NOVEMBER 1, 2022

Each brings different sales tax implications – and retail and ecommerce businesses aren’t always aware of their obligations. The exemption question Sales tax obligations start with nexus, the concept that enables state and local governments to require businesses to collect and remit sales tax on the products and services they sell.

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South Dakota Sales South Carolina Illinois 130

TaxConnex

FEBRUARY 8, 2022

There’s always something changing in the world of tax, especially sales tax. State sales tax revenues and their local portions are reported up from Auburn, N.Y., Many other states are finding more late-2021 sales tax revenue to funnel toward local governments. billion in sales taxes for December, $101.9

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Sales Tennessee Tax Massachusetts 174

Accounting Today

FEBRUARY 21, 2024

The decades-old global consensus that's allowed e-commerce and a growing tidal wave of data to cross borders without tolls is at risk of falling apart.

E-commerce 62

E-commerce Tax Entertainment 62

TaxConnex

FEBRUARY 4, 2021

At the end of last year, TaxConnex commissioned Porter Research Group to conduct a survey of 100 finance leaders to understand the growing concerns they face related to sales tax heading into 2021. Which types of business are most dissatisfied with how they are currently managing sales tax? What is the cause of their dissatisfaction?

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Sales Tax E-commerce tax return 130

TaxConnex

FEBRUARY 3, 2022

Sales tax has evolved a lot in recent years. So has the sales tax audit. Examiners can still show up and go over your books in person, and tax agencies will still send audit notices via snail mail. Many events can ignite a sales tax audit. And why not? What if you get flagged? Are they happening more often?

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audit Sales Tax auditor 173

TaxConnex

NOVEMBER 16, 2021

The explosive growth of online sales means that state and local governments are searching for ways to recoup the tax revenue that they have determined they are owed. States are eager to take a portion of these sales and include them in their general tax revenues. In 2018, the landmark Supreme Court decision South Dakota v.

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South Dakota E-commerce Rhode Island Illinois 163

TaxConnex

JUNE 22, 2021

The years since June 2018 have been unlike anything in the history of sales tax. Supreme Court Wayfair decision three years ago empowered tax jurisdictions with the sudden authority to require thousands of companies to collect and remit sales tax. How has the sales tax landscape changed in just 36 months? A perfect storm.

South Dakota 130

South Dakota E-commerce South Carolina Missouri 130

xendoo

MAY 2, 2021

While it is good to have a backup, manual entry, especially those not saved to the cloud, can cost you when it comes to tax time. You can take advantage of several tax benefits with a business account. This post is intended to be used for informational purposes only and does not constitute as legal, business, or tax advice.

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E-commerce Account accountant accounted 52