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.
CPA Practice
JULY 18, 2023
Worldwide retail ecommerce sales could reach $6.169 trillion in 2023 and comprise 22.3% of total retail sales. The following guide provides more detailed information for each state and answers frequently asked questions like, “Do you charge sales tax on items shipped out of state?” or “Is there sales tax on U.S.
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TaxConnex
APRIL 28, 2022
Audits remain an important tool for tax jurisdictions to evaluate the level, or lack thereof, of sales tax compliance within a business. Even though many audits have shifted to remote audit, the fundamentals of the sales tax audit haven’t changed. Top 10 Tips for Managing Sales Tax Audits. Fear and loathing. market survey ,?more
CPA Practice
JANUARY 3, 2024
2024 tax changes Here are some tax shifts happening in various states and how they might impact your finances this year. Tax-free shopping Florida kicked off 2024 with its first-ever January back-to-school sales tax holiday. Meanwhile, Minnesota has revamped its net investment income tax rules. One bracket is tied to a 4.7%
CPA Practice
APRIL 10, 2023
Of course, the retail delivery fee is based on each sale , not each delivery. During a Senate Finance Committee hearing on the issue (February 21, 2023), the chief financial officer of a small Colorado business said his business has to use two different software systems to collect and remit the fee. “I’m
CPA Practice
APRIL 19, 2024
Online marketplace sales are expected to exceed $603 billion in the United States in 2027, or nearly 35% of all U.S. These five guiding principles can help marketplace facilitators get sales tax compliance right no matter what states throw their way. By Gail Cole. By 2027, marketplaces may account for 59% of ecommerce globally.
PYMNTS
APRIL 27, 2020
As the PPP ran out of cash in less than two weeks, SMBs complained they were left out, while big, well-known companies were financed. Among the corporations that received money were Texas Taco Cabana, which has 164 outlets and posted $661 million in sales last year with a net loss of $84.4 It received $10 million. But on Monday, Sen.
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