Missouri Enacts Economic Nexus

TaxConnex

Missouri has officially become the last state with a state-wide sales tax to enact economic nexus. Missouri Gov. Missouri will be the final state to implement an economic nexus law since the Supreme Court’s Wayfair decision in 2018.

Missouri Inches Toward Economic Nexus

TaxConnex

A bill to enact economic nexus requirements – creating a sales and use tax obligation on remote sellers and marketplace facilitators – awaits only a signature to become law in Missouri. Missouri lawmakers delivered the passed version of S.B.

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Missouri Show-Me Green Sales Tax Holiday

Anders CPA

The biggest weekend for purchasing appliances in Missouri is here! This is the week that Missouri is holding their Show-Me Green Sales Tax Holiday. During this time, if you buy a certified Energy Star appliance in Missouri, you will not have to pay any state sales tax.

Missouri Bill Reintroduces R&D Tax Credit and Changes to State and Local Tax Treatment and MO Works Program

Anders CPA

A Missouri bill, HB 2400, could affect businesses across the state with several provisions impacting the R&D tax credit, Missouri Works program, the State and Local Tax Parity Act and more. New Missouri R&D Tax Credit. Changes to the Missouri Works Program.

Missouri State Tax Updates

Withum

Blogs

Missouri’s Cash Tax Payment Ban Proposal Irks Cannabis Firms

PYMNTS

The state of Missouri is reportedly considering a ban on cash tax payments, a move that has raised concerns for local legal marijuana businesses that are struggling to obtain banking services and relying on cash to remain in operation. According to the Missouri Medical Cannabis Trade Association, the state does have several banks that service cannabis companies , but a spokesperson warned that “those options are not plentiful.”

Senate Bill Could Remove Immunity For Offensive Online Content

PYMNTS

Republican Senator Josh Hawley from Missouri has introduced a bill that would remove the immunity companies like Facebook, Twitter and Google receive for offensive and illegal content that users post, according to a report by CNBC. Facebook bill censorship content Decency Act Google internet Josh Hawley Legislation Missouri Neutral News Political senator tech companies twitter users What's Hot

Add Florida to the List of States with Economic Nexus!

TaxConnex

Now, o nly Missouri remains as the state with a state-wide sales tax that do esn’t require out-of-state sellers to collect and remit sales tax , though lawmakers continue to try to enact economic nexus in that state. Florida Gov.

What’s new in state sales and use taxes

TaxConnex

Missouri voters in several of the state’s cities will decide this spring whether to institute use taxes that would allow each of those cities to collect its sales tax for online purchases. There’s always something changing in the world of tax, especially sales tax.

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Selling Into States with Unusual Sales Tax Laws

TaxConnex

Florida and Missouri have sales tax but have not adopted economic nexus standards. Cities, counties and certain Missouri districts may also impose local sales taxes. O ut-of-state sellers can also establish nexus with ties to businesses in Missouri, including affiliates.

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Four years since Wayfair: A trend takes hold

TaxConnex

Of all states with a sales tax, only Florida and Missouri remained holdouts when it came to enforcing economic nexus for out-of-state sellers. Florida and Missouri recently completed the lineup of states with a sales tax that enforce economic nexus. What a 48 months it’s been.

Are You A Firm Administrator? Are You Wondering What A Firm Administrator Does?

RitaKeller

Today, I want to remind you about a one-hour session I am doing tomorrow for the newly formed Missouri Chapter of CPAFMA and the Missouri Society of CPAs. “Focus on being productive instead of busy.” ” – Tim Ferriss. Are you new to the role of firm administrator? Are you an experienced administrative professional but have never worked in the CPA profession? Are you thinking about hiring a firm administrator?

Sales and Use Tax Updates from February

TaxConnex

In one of the biggest developments, the two remaining states with a sales tax that don’t require online (or otherwise remote) businesses to collect and remit tax – Florida and Missouri – may be inching toward instituting post- Wayfair nexus requirements and sales tax obligations.

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What's New in State Sales and Use Taxes - Monthly Update

TaxConnex

Missouri has released a private letter ruling determining that a company’s private wireless network was not subject to Missouri sales tax. The company provides wireless services in Missouri, including voice, messaging, internet access and private network services.

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Do you really understand economic nexus for sales tax?

TaxConnex

Today, all 45 states with a statewide sales tax have enacted laws triggering economic nexus, Missouri’s laws do not go into effect until 2023 though. Most recently, Florida and Missouri became the last states with a sales tax to enforce economic nexus.

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State Sales and Use Tax Update

TaxConnex

There’s always something changing or new going on in the world of tax, especially sales tax. Here’s a review of some of the changes and updates that were announced in the last few months.

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2021: The Year in Review – Sales Tax

TaxConnex

Only Missouri now remained with a state-wide sales tax but no requirement for out-of-state sellers to collect and remit sales tax. The Missouri law is not set to kick in until Jan. The whole world pinballed throughout a pandemic the last two years and continues to do so.

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Elevating & Embracing Your Role – Firm Administrators & Practice Managers

RitaKeller

The newly formed Missouri Chapter of CPAFMA , supported by the Missouri Society of CPAs , has invited me to speak to their roundtable group virtually on Wednesday, June 16 from 11 a.m. – If you are outside of Missouri you are invited to attend. Contact Liz Schaetzel at the Missouri Society to register – lschaetzel@mocpa.org. “Attitude is a choice. What you think you can do, whether positive or negative, confident or scared, will most likely happen.”

Multi-channel selling sales tax: Direct/retail sales

TaxConnex

Missouri’s new law kicks in next Jan. Taxable sales of products direct to end users has been a staple of business for ages. One relatively new development is the complex overlay of sales tax on these transactions.

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The Growth of E-Commerce and Your Sales Tax Obligation

TaxConnex

As of today, all states that have a state-wide sales tax have now jumped on the opportunity (even though Missouri will not go into effect until 2023) to establish revenue thresholds (as well as transaction thresholds in many states).

What’s new for state sales and use taxes

TaxConnex

Missouri lawmakers are continuing work on the state Senate? There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates. Give us a break.

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How To Evaluate Where You Have Established Economic Nexus

TaxConnex

As of March 2021 , the only two states that charge a state-wide sales tax but have not adopted economic nexus rules are Florida and Missouri – though both have bills out for vote to enact economic nexus within their state.

Hoops for Hope Raises $17,000 for Lydia’s House

Anders CPA

Lydia’s House is the only standalone transitional housing in eastern Missouri and provides advocacy and resources for its residents.

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Impacts of using a marketplace facilitator

TaxConnex

Missouri, whose economic laws have been approved but not yet put into effect, also has no marketplace facilitator laws until January 1, 2023. Online sellers hear an endless amount these days about “marketplace facilitators.” What are they? How can they help you? And how can they hurt?

Monthly Review of What's New in Sales & Use Tax

TaxConnex

Biggest news: Missouri will likely soon join fellow holdout Florida in establishing economic nexus requirements. The Missouri Legislature has passed? There’s always something changing in the world of tax, especially sales tax. And 2021 continues to prove that.

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Seeing green: States learn the importance of sales tax

TaxConnex

In Missouri , sales and use tax collections jumped almost 20% for 2021 and they’ve yet to even start collecting from remote sellers according to their new economic nexus laws that go into effect in 2023.

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3 Years Post-Wayfair: A Look Back

TaxConnex

Before the end of 2019, 43 of the 45 states (including DC) with a state-wide sales tax had joined in, Missouri and Florida being the only holdouts. June 21 marked three years since the landmark decision in the South Dakota v. Wayfair case.

Sales Tax on Shipping: When Does it Apply?

TaxConnex

Shipping does not incur sales tax in Missouri. It’s one of the most important aspects of an online business – and one of the wackiest when trying to determine whether sales tax applies or not. What is it? Shipping.

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Telecom Tax and Other Specialty Transactions Taxes

TaxConnex

Missouri has local license taxes in most cities. Sales tax is broadly defined to mean any tax that is charged to the end-user customer by the retailer of property or services. Though this definition is correct, it does not always provide a complete picture of a business’s transactions tax liabilities. Sales taxes are a transactions based tax, but they are not the only transactions based taxes.

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The Pandemic's Impact on Businesses and Sales Tax: An Update

TaxConnex

Missouri, the final holdout state, followed suit a few months later when Gov. This article was written for the Atlanta Business Chronicle Leadership Trust. To see the original post, click here.

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5 Steps to Tracking Your Economic Nexus Footprint

TaxConnex

Florida was the most recent, with laws starting in July, and Missouri, the final holdout, is just awaiting a signature from the governor to pass economic nexus as well. Your sales tax obligations start with whether or not you have sales tax nexus.

Handling Sales Tax In-House: Job Market Challenges Continue

TaxConnex

In the three calendar years following the Supreme Court’s 2018 Wayfair decision, the last of the states with a sales tax (Florida and Missouri) finally passed economic nexus legislation. (In

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Shrinking the Delaware Tax Loophole: Other U.S. States to Incorporate Your Business

inDinero

Currently, Alabama, Arkansas, Delaware, Georgia, Illinois, Louisiana, Missouri, New York, North Carolina, and Oklahoma have a franchise tax. Incorporation is a critical legal matter that impacts more than your company’s tax responsibilities for doing business.

Unexpected Growth Can Mean Sales Tax Obligations

TaxConnex

Florida and Missouri have not implemented any economic nexus standards — but stay tuned as each state is considering options. This article was written for the Atlanta Business Chronicle Leadership Trust. To see the original post, click here. Every business owner wants their company to grow.

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Preparing Your Business for Sales Tax Holidays

TaxConnex

Other states like Maryland, Missouri, Texas, and Virginia have holidays for energy-efficient devices. Many states use sales tax holidays to waive or reduce sales tax on various items. These holidays can be annual or even two or more times a year.

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7 Ways a Business is Selected for Audit

TaxConnex

but with the addition of economic nexus in Florida to start later this year, and Missouri set to potentially follow suit, the realization that money received from economic nexus liabilities is definitely top of mind for states. As we entered 2021, many industry experts believed that state?

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Taking a Look at Sales Tax Exemptions and Why They're Important

TaxConnex

As you consider exemptions, watch such states as Kansas and possibly Missouri, where new economic nexus rules look to kick in soon. Taking advantage of sales and use tax exemptions can save your business money and headaches. But exemptions can be harder to secure in some states than in others.

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Google Faces Lawsuit From Multiple States Over Digital Ad Tactics

PYMNTS

In addition to Texas, states involved in the suit include Arkansas, Idaho, Indiana, Kentucky, Mississippi, Missouri, North Dakota, South Dakota and Utah, WSJ reported.

Don't Test Your Luck with Non-Compliance

TaxConnex

Even the only two states with a state-wide sales tax that have held out from enacting economic nexus – Florida and Missouri – may be edging toward making sellers collect and remit sales tax. This St.

Google Slapped With Antitrust Lawsuit Filed By Coalition Of 38 States

PYMNTS

In addition to Texas, states involved in the Paxton suit include other Republican attorneys general from Arkansas, Idaho, Indiana, Kentucky, Mississippi, Missouri, North Dakota, South Dakota and Utah.

US Jobless Claims Fall To 1.2M

PYMNTS

Virginia saw layoffs in the professional, scientific, and technical services while Missouri was hurt by cuts in the accommodation and food services, administrative and support and waste management and remediation services industries.

Sales and Use Tax in 2020: A Look Back

TaxConnex

Missouri clarified rules regarding sales processed outside its state, and Tennessee discussed the taxability of pre-recorded videos of online courses. Someday people will probably use a lot of words to describe 2020. “Un-eventful” Un-eventful” won’t be one of them.

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3 Common Missteps of Sales Tax

TaxConnex

As of this writing (April 2021), the last two states that don’t impose sales tax obligations on out-of-state sellers – Florida and Missouri – are working on such laws and Wisconsin just removed their transaction number threshold and are only relying on annual revenue into the state.

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