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Getting digital with sales tax in 2023

TaxConnex

SD 1711 , to tax collection of data by commercial data collectors (similar to the New York bill below). Beyond ads Indiana HB 1517 , introduced in January, would impose a surcharge tax on social media providers. Similar proposed legislation in Indiana in previous years didn’t make it out of committee.

Sales 147
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Vitamins, supplements and sales tax – the latest

TaxConnex

The products incur sales tax in most states (Massachusetts casts an especially wide net) but are more or less exempt in Connecticut, Florida, Maryland, Michigan, New Jersey, New York, Texas, West Virginia and Wyoming.

Sales 226
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On the move: Indiana CPA Society welcomes 2023-24 scholars

Accounting Today

NASBA CEO and RSM International CEO both announce plans to step down; Citrin Cooperman relocates New York City office; and more news from across the profession.

Indiana 110
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Loopholes and other odd sales tax rules, part 1

TaxConnex

Indiana taxes some but not all marshmallows. New York’s “bagel tax” has recently captured headlines , an 8.875% sales tax on prepared food that isn’t applied to unprepared foods (i.e., New York’s “bagel tax” has recently captured headlines , an 8.875% sales tax on prepared food that isn’t applied to unprepared foods (i.e.,

Sales 130
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Online Ads: Who Taxes Them and Who Doesn't?

TaxConnex

Three states – Arkansas , Connecticut and Indiana – have explored specifically taxing advertising on social media. New York ’s, a tax of 2.5-10%, Similar bills are labeled “dead” in Texas and appear to have died in committee in Indiana. 10%, is in a committee in that state’s Senate. Which leaves you where?

Maryland 169
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How the 50 States Rank By Lifetime Taxes

CPA Practice

The table below shows a state-by-state breakdown of the average lifetime earnings compared to estimated lifetime taxes, and the percentage of earnings that will go toward tax payments, according to Self Financial: State Lifetime earnings Lifetime taxes % of earnings New Jersey $1,818,191 $987,117 54.3% New York $1,658,872 $748,199 45.1%

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IRS Says State Issued Stimulus Payments are Not Taxable

CPA Practice

This means that people in the following states do not need to report these state payments on their 2022 tax return: California, Colorado, Connecticut, Delaware, Florida, Hawaii, Idaho, Illinois, Indiana, Maine, New Jersey, New Mexico, New York, Oregon, Pennsylvania and Rhode Island.