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 weather victims get federal filing relief

Accounting Today

Natural disasters IRS Tax Tax relief

Save On Back To School Supplies During Missouri’s Tax Free Holiday August 5-7

Anders CPA

The Missouri Back to School Sales Tax Holiday is a great time to stock up on supplies needed for the upcoming school year. In Missouri, the tax-free holiday starts at 12:01 a.m. Be aware not all cities and counties in Missouri observe this holiday.

Anders Partners with Fifth Avenue to Provide Streamlined Credentialing and Provider Enrollment Process in Missouri and Illinois

Anders CPA

Anders is expanding our partnership with Fifth Avenue Healthcare Services (Fifth Avenue) to offer a streamlined, outsourced credentialing and provider enrollment process for physician practices and health systems in Missouri and Illinois.

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

Holdout States Moving Toward Sales Tax Requirements

TaxConnex

Two of those states that have a state-wide sales tax, Missouri and Florida, have yet to adopt economic nexus standards set by the 2018 South Dakota v. In Missouri, the state House and Senate have passed their versions of Wayfair legislation with strong support from the business community.

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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.

Tax Deductions for 529 Plans Outside of Your Resident State

Anders CPA

On the other hand, in Missouri, residents can contribute up to $8,000 (filing single) and $16,000 (married filing jointly) to a Missouri 529 Plan or another state’s 529 plan and reduce taxable income.

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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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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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Anders Names 6 New Partners for 2023

Anders CPA

She is a member of both the American Institute of Certified Public Accountants (AICPA) and the Missouri Society of Certified Public Accountants (MOCPA). Justin is a Certified Public Accountant and holds a Masters degree in Accounting from the University of Missouri Saint Louis.

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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?

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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Dan Schindler Named MOCPA’s Outstanding Young Professional

Anders CPA

Anders tax partner Dan Schindler has been named the 2022 Outstanding Young Professional by the Missouri Society of Certified Public Accountants (MOCPA).

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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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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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Don’t let Black Friday blind you to sales tax obligations

TaxConnex

All states with statewide sales tax have set economic nexus thresholds in recent years, although Missouri’s will not go into effect until January 2023. Holiday shopping season is here again – and eCommerce looks to be bigger than ever.

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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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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.

Tricky items for sales tax (Part 3)

TaxConnex

It’s taxed at reduced rates in Missouri and Virginia. Our Halloween-month look at tricky items concludes with a natural: candy. Consumers are expected to spend more than $3.1 billion on candy this Halloween.

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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.”

What was new in September for state sales and use taxes

TaxConnex

A Missouri nonprofit providing social and housing services qualifies for a charitable sales and use tax exemption in addition to a previously granted civic exemption, the state supreme court held in Beyond Housing Inc.

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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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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).

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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Sales tax holidays for the rest of the year

TaxConnex

5-6) and Missouri, New Mexico, Ohio, Oklahoma, South Carolina, Texas and Virginia (all Aug. Holiday time already? In many states, sales tax holidays have been in full swing this year and will continue for months to come.

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5 reasons you need continuity in a sales tax provider

TaxConnex

Most recently, for instance, the last states with a state-wide sales tax (Florida and Missouri) joined the ranks of those enforcing economic nexus. Consistent (i.e., good”) service is a nice thing to have in any industry. In a field that changes as fast as sales tax, it’s a necessity.

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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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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.

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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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?

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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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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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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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.

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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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.