article thumbnail

Sales tax and accounting services

TaxConnex

It’s that time of year again when everyone suddenly thinks about preparing their income taxes. But does tax preparation incur sales taxes – and if it does, where and how? For some 90 years, states have levied sales tax on goods (West Virginia was the first to do so , in 1921). Sourcing is huge.

article thumbnail

What’s new in sales tax?

TaxConnex

There’s always something changing in the world of tax, especially sales tax. Midyear sales tax. The Tax Foundation released its “State and Local Sales Tax Rates, Midyear 2023” report of the 45 states (and the District of Columbia) that collect statewide sales taxes and the 38 states where local sales taxes are collected.

Sales 130
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Sales tax holidays and taxability of clothing/back to school (part 2)

TaxConnex

As we saw last time, sales tax holidays are continuing to enjoy a heyday this year. New Mexico , Aug. School supplies for use in standard, general-education classrooms must be under $30 per unit. 13-19: Qualifying clothing and footwear priced $100 or less will be exempt from sales tax. New Jersey , Aug.

Sales 130
article thumbnail

Monthly Sales and Use Tax Update

TaxConnex

There’s always something changing in the world of tax, especially sales tax. 1, 2022, though, all retailers must apply the destination sourcing rules when calculating, collecting and remitting state sales tax. Marketplace sellers that properly remitted tax can file a claim for credit. As of Feb.

Sales 141
article thumbnail

State-by-State Guide to Back-to-School Sales Tax Holidays

CPA Practice

This list includes every back-to-school sales tax holiday this summer, from July 27, 2023, through the end of August. Rules for tax-free shopping can vary from state to state. So, just because something is tax-exempt in one state doesn’t mean it will be in another. Does Summer Camp Qualify for a Childcare Tax Credit?

Sales 96
article thumbnail

States With the Highest- and Lowest-Earning College Grads

CPA Practice

Policies and regulations, such as minimum wage laws, tax policies, and labor regulations, differ across states and therefore impact earnings across institutions, says Cole Vineyard, founder of Teach Simple. States with the lowest-earning graduates On the other hand, these are the states with the lowest earning graduates.

article thumbnail

Last Week in Payroll: Summertime Tax Tips

ThomsonReuters

Summertime Tax Tips. Let’s go over a few summertime tax tips for payroll professionals this season: 1) Interns. Biden Administration issues tax proposals “Green Book.” The Department of the Treasury has issued detailed information about the Biden Administration’s tax proposals for fiscal year 2022 in its “ Green Book.”

payroll 98