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After $3.5 Billion Accounting Error, South Carolina Comptroller Could Be Ousted

CPA Practice

Harris, The State (TNS) After South Carolina Comptroller General Richard Eckstrom’s office made a multibillion mistake, a panel of Senate budget writers are suggesting the Republican be removed from his position and the office stripped of several responsibilities. In South Carolina, the comptroller general is an elected office.

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Top 10 States for Credits and Incentives Opportunities

Cherry Bekaert

However, all job creation incentives typically require: 1) A minimum net job increase 2) Maintained jobs 3) Operations in certain industries or activities Jobs Tax Credits may be claimed on a retroactive basis in Georgia, South Carolina, Mississippi, Tennessee and Virginia in any open tax years.

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Sales Tax Updates: What’s new in sales tax for April?

TaxConnex

Local governments in this case contended that video-on-demand and pay-per-view programming should be taxed as tangible property due the definition including items that “can be seen, weighed, measured, felt, touched, or is in any other manner perceptible to the senses.”

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Multi-channel selling sales tax: Wholesalers and Drop Shipping

TaxConnex

An exemption could be related to the type of business that is buying the TPP – a non-profit or government entity in certain states for example. The concept that enables state and local governments to require businesses to collect and remit sales tax on the products and services they sell. Assessing your footprint.

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Your need-to-know: vendor compensations and discounts | TaxConnex

TaxConnex

South Carolina gives a big break to retailers who aren’t required to collect and remit the state sales but volunteer to do so. Regarding providers, the Streamlined Sales Tax Governing Board says it has certified Avalara, TaxCloud, Sovos and Accurate Tax.)

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Areas in the U.S. Where Inflation is Causing Property Taxes to Increase the Most

CPA Practice

Property tax levies max out at 2%, but this cap can be overridden by school and local governments. Unfortunately, many New Yorkers are accustomed to this increase since 2023 marks the third consecutive year inflation rates have surpassed the 2% tax cap. And counties across the state are raising taxes.

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A history of sales tax

TaxConnex

The American version Financing government has usually motivated creation of taxes in America. These were followed in the 1940s by Florida, Tennessee, Maryland, Connecticut, Rhode Island and the District of Columbia; and in the 1950s by Maine, Pennsylvania, South Carolina, Georgia and Nevada. Salestaxes are no exception.