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2024: What’s coming up in sales tax

TaxConnex

The new year will no doubt be another active one in sales tax. Weaker state revenue The kind of year it’s going to be for state coffers could greatly influence such future sales tax trends as new levies, tougher nexus thresholds and intensifying audits. But state sales tax revenues are projected to increase 1.7%

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What’s new in sales tax?

TaxConnex

There’s always something changing in the world of tax, especially sales tax. according to a Adobe Analytics report cited by news sources. billion on Cyber Monday, news reports added, saying overall spending increased 9.6% New York ranked last. New York state sales tax collections jumped 2.5%

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Sales tax and NFTs: Latest developments

TaxConnex

Some NFTs alone on OpenSea have sold for millions and in recent years the average sales price of an NFT (an admittedly volatile commodity) jumped from about $150 to $4,000. Nevertheless, how long before states start trying to tap this market to collect sales tax? Sales of digital products are generally subject to retail sales tax.

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What’s new in sales tax?

TaxConnex

There’s always something changing in the world of tax, especially sales tax. billion in tax revenue on sales tax holidays that offer breaks on such goods as back-to-school or disaster-preparedness items. The other prevalent argument is that sales tax holidays are a way of giving tax relief. Sales taxes were $25.4

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Charging sales tax based on an IP address

TaxConnex

Many tech companies consider themselves service providers, exempt from sales and use tax. But a purchase within an app or gaming system may not require the same information, so the location of a purchase can be harder to pinpoint. How useful is that in some states, where sales tax can vary by city, town – even by neighborhood? “We

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As Classic Video Games Turn Into Collectibles, Can eCommerce Keep Up?

PYMNTS

It seems that old-fashioned video games are that hot new item, assuming they are in pristine condition and come in factory packaging, according to a new report in The New York Times. games — have reached the six-figure threshold in private sales.”. has been among the leaders in global sales.

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Retail Pulse: goop Finds Stickiness In New York, Opens ‘Lab’; Nordstrom To Offer Early-Bird Pickup

PYMNTS

Lifestyle brand goop , for instance, is opening its first permanent store in the SoHo district of New York City, called goop Lab, after experimenting with a pop-up shop in nearby Long Island, among other locations. As Kreuzberger told Glossy, “there is less resistance to price in New York.”)