Anders CPA

OCTOBER 10, 2023

Sales tax regulations have become a significant concern for both businesses and consumers. Sephora) sheds light on the repercussions of collecting an improper amount of sales or use tax. million to resolve claims of overcharging taxes on Missouri purchases serves as a lesson for all people involved.

Missouri 59

Missouri Tax Sales Legal 59

TaxConnex

DECEMBER 5, 2023

Clubs and dues have been around for decades, but the rise of certain memberships – and the ability to sell them over the internet – have also raised the question of whether memberships incur sales tax. Health and fitness club In some states membership in one of these creates a sales tax obligation; in others it doesn’t.

South Carolina 204

South Carolina Sales Tax West Virginia 204

TaxConnex

DECEMBER 7, 2023

There’s always something changing in the world of tax, especially sales tax. Other popular terms included “tires” in New Hampshire, “couches” in Colorado, “furniture” in Missouri and “shoes” in Alabama. Gains in sales tax revenue are becoming spottier in general – especially on the local level – but not statewide everywhere.

Sales 147

Sales Tax West Virginia South Dakota 147

TaxConnex

SEPTEMBER 26, 2023

These thresholds vary state to state and change often, with Missouri being one of the latest to enact economic nexus. We generally recommend that companies start watching their nexus requirements when they hit the $100,000 in sales in a state. They also take the burden of sales tax obligation off the seller. Taxability.

Sales 201

Sales Tax South Dakota Colorado 201

TaxConnex

NOVEMBER 3, 2020

There’s always something changing or new going on in the world of tax, especially sales tax. In Alabama , tax licenses – including for sales tax, sellers use tax and the simplified sellers use tax – must be renewed annually as of Nov. Sales tax accounted for the largest decline, falling $918 million, or 23 percent. billion (3.5

Sales 223

Sales Tax Wisconsin Vermont 223

TaxConnex

DECEMBER 30, 2021

Sales tax in 2021, though, seemed to move in only one direction: It intensified as even more states hopped on the economic nexus bandwagon and the sales tax burden for online businesses grew. Here’s a look back at some of 2021’s biggest developments in sales tax. Other states intensified their sales tax moves.

Sales 192

Sales Tax Maryland West Virginia 192

TaxConnex

APRIL 8, 2021

Of the 50 states, 45 (plus DC) charge a state-wide sales tax. 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. 15 , which is reportedly projected to bring in about $1 billion a year in sales taxes and. Wayfair case.

South Dakota 131

South Dakota Sales Missouri Tax 131

TaxConnex

JANUARY 3, 2023

Next summer will mark five years since the Supreme Court ignited economic sales tax nexus with the South Dakota v. Many businesses are still trying to figure out how to manage the resulting obligations, but one thing’s clear: Now every state with a sales tax has economic nexus. Missouri becomes the last such state on Jan.

South Dakota 194

South Dakota Sales Alaska Tax 194

TaxConnex

MAY 23, 2023

Last time we looked at a sample of the strange sales tax laws regarding food, including a sliced bagel in New York. If only that was the only complex category concerning sales tax. Diapers and groceries are taxed in Hawaii, Idaho, Utah, Kansas, Missouri, Oklahoma, Arkansas, Tennessee and Alabama, Mississippi and South Dakota.

South Carolina 130

South Carolina South Dakota Sales Montana 130

TaxConnex

NOVEMBER 9, 2023

Exactly how long will it take you to set up a process to evaluate and comply with your sales tax obligations? Depends on your business and where you are in your sales tax journey. Do you need a sales tax solution? Typically, a triggering event causes a company to investigate whether it needs a sales tax process.

Sales 147

Sales Tax Missouri Start-ups 147

TaxConnex

FEBRUARY 8, 2022

There’s always something changing in the world of tax, especially sales tax. State sales tax revenues and their local portions are reported up from Auburn, N.Y., Many other states are finding more late-2021 sales tax revenue to funnel toward local governments. billion in sales taxes for December, $101.9 to Mukilteo, Wash.,

Sales 173

Sales Tennessee Tax Massachusetts 173

TaxConnex

FEBRUARY 9, 2021

If you sell into the handful of states that don’t have nexus or don’t have a general sales tax, you might think you’re home free when it comes to obligations to remit sales tax. Forty-five states and the District of Columbia have a statewide sales tax. No sales tax but…. Maybe, and maybe not.

Sales 142

Sales Delaware Alaska Montana 142

TaxConnex

APRIL 12, 2022

There’s always something changing in the world of tax, especially sales tax. Inflation and other spiraling prices have driven states’ lawmakers to consider relief via sales and other taxes. Florida seems to be leading the way, proposing sales tax holidays and other short- and long-term tax relief on a broad range of products.

South Dakota 207

South Dakota Sales Tax North Carolina 207

Anders CPA

MAY 24, 2022

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. State and Local Tax Opportunities.

Missouri 98

Missouri Tax income tax Gambling 98

TaxConnex

AUGUST 26, 2021

Cross-border e-commerce sales worldwide grew more than 20% in 2020. According to the National Retail Federation, non-store and online sales are expected to grow 18% to 23% this year over 2020. Online stores with a social media presence have an average of 32% more sales than those that don’t. trillion in 2020.

E-commerce 221

E-commerce Sales Tax Missouri 221

TaxConnex

JANUARY 26, 2023

There’s always something changing in the world of tax, especially sales tax. Gary Bingel, partner-in-charge for state and local taxes in accounting firm EisnerAmper’s State and Local Tax National Tax Group, made several predictions for 2023 in sales and other taxes. like many localities nationwide, has seen sales tax revenue skyrocket.

Sales 130

Sales Tax Arkansas Missouri 130

TaxConnex

FEBRUARY 16, 2023

Think you’re the only one worried about sales tax compliance? According to our third annual Sales Tax Market Survey you’re not. Fewer than half of the respondents to our survey were “very satisfied” with their company’s current approach to managing sales tax. Inadequate understanding of sales tax complexities.

Sales 130

Sales Tax Alaska Missouri 130

TaxConnex

OCTOBER 27, 2022

States are like that, too: sometimes candy is considered food (groceries) for sales tax purposes, sometimes it’s not and sometimes it’s somewhere in between. Flour in candy can also result in a different sales tax treatment depending on the state. Flour in candy can also result in a different sales tax treatment depending on the state.

Sales 130

Sales West Virginia South Dakota Tax 130

TaxConnex

MAY 4, 2021

But don’t forget that success that comes from selling into more states can also expand your sales tax burdens. Businesses that sell into multiple states or jurisdictions have to pay attention to sales tax thresholds, and it’s not a one-time project. Ways of creating a sales tax obligation. to collect sales tax because?they’ve?reached

Sales 246

Sales Tax South Dakota audit 246

TaxConnex

JANUARY 11, 2022

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. Many states say that when the contents of a shipment are taxable, so is the shipping cost; similarly, when items in a shipment are exempt from sales tax, so is the cost of shipping.

Sales 180

Sales Rhode Island South Dakota Tax 180

TaxConnex

MAY 30, 2023

You know all about reaching sales tax nexus: selling enough or having a physical presence in a tax jurisdiction sufficient to create a connection with that jurisdiction and create an obligation for you to collect and remit sales tax. But business and sales patterns change over time. Sales tax isn’t getting any easier.

Sales 130

Sales Michigan Tax Wisconsin 130

TaxConnex

JULY 8, 2021

Many states use sales tax holidays to waive or reduce sales tax on various items. Location, location, location is the rule when it comes to sales tax holidays. The holidays may only cover state sales tax but not local sales taxes, as in South Carolina (which, like other states, has no price cap on eligible items).

Sales 196

Sales South Carolina Tax E-commerce 196

TaxConnex

JULY 13, 2023

As we saw last time, sales tax holidays are continuing to enjoy a heyday this year. Missouri , Aug. Online sale of the item must take place during the holiday, even if delivery is later. 13-19: Qualifying clothing and footwear priced $100 or less will be exempt from sales tax. Iowa , Aug. Texas, Aug. Maryland , Aug.

Sales 130

Sales West Virginia South Carolina Tax 130

TaxConnex

JUNE 8, 2021

There’s always something changing in the world of tax, especially sales tax. Biggest news: Missouri will likely soon join fellow holdout Florida in establishing economic nexus requirements. They were the last two states with a sales tax to set up such requirements.). The Missouri Legislature has passed?

Sales 143

Sales Tax Arkansas South Carolina 143

TaxConnex

AUGUST 19, 2021

In the fall of 2020, I published an article on how the sales tax picture is changing due to COVID-19. Now that we’re over a year into the pandemic, I wanted to provide an update on the sales tax landscape, what predictions have remained the same and what’s changed. Online’s share of total retail sales?blew Latest developments.

Sales 231

Sales E-commerce Tax Missouri 231

TaxConnex

MARCH 10, 2022

But what exactly is economic nexus – and, more importantly, have you kept up with its constant changes in the sales tax realm? Sales tax nexus is the connection your business has with a state or local taxing jurisdiction. that had a state-wide sales tax had enacted economic nexus. There’s obviously a lot to learn.

South Dakota 187

South Dakota Sales Tax Maryland 187

TaxConnex

OCTOBER 25, 2022

There’s always something changing in the world of tax, especially sales tax. The Urban Institute told news outlets that 25 states recently reported year-over-year declines in sales tax receipts, a jump of more than a third in just a month. Nationwide, sales tax receipts were up 1.5% Inflation bites. year-over-year as of June.

South Dakota 130

South Dakota Sales Tax South Carolina 130

TaxConnex

JANUARY 27, 2022

The explosion of the e-commerce market alone would’ve made handling sales tax obligations in-house tough. Due to all of the above, it’s hard to fill any position at this point, but a job with specific skills, especially with experience managing sales and use tax, can be downright impossible. Nearly 8% growth was expected in 2021.

Sales 162

Sales E-commerce Tax Florida 162

TaxConnex

AUGUST 25, 2022

In a field that changes as fast as sales tax, it’s a necessity. You generally have three options to address your sales tax compliance obligation: try to manage everything in-house; outsource to an experienced provider; or do nothing and roll the dice. This one of the key steps to complying with sales and use tax laws nationwide.

Sales 164

Sales Tax audit Alaska 164

TaxConnex

JANUARY 18, 2024

What’s the latest brewing today in sales tax? Physical nexus standards – such as having offices, staff or inventory in a state – had long mandated that retailers had to collect and remit a state’s sales tax. In both states, the only threshold for economic nexus is now $100,000 in sales in the previous year.

South Dakota 202

South Dakota Louisiana Colorado Alaska 202

TaxConnex

MAY 27, 2021

Taking advantage of sales and use tax exemptions can save your business money and headaches. In general, exemptions are statutory exceptions eliminating the need for the retailer or business to collect sales tax on a particular transaction or on all transactions with a customer. Necessary paperwork for sales tax exemptions.

Sales 165

Sales Tax Connecticut Idaho 165

CPA Practice

OCTOBER 18, 2023

With sales tax compliance, it’s the latter. The fact is, not all states are equal when it comes to sales tax filing and remittance. For a variety of reasons, sales tax compliance in certain states takes more time and causes more headaches than sales tax compliance in others. There’s no one reason why this is so.

Sales 59

Sales South Dakota Tax Missouri 59

TaxConnex

APRIL 27, 2021

Sales tax obligations are getting more complicated for businesses of all industries. In this blog, we’ll talk to some of the common missteps businesses make when trying to manage sales tax on their own. Figuring out where you have nexus is key to determining your sales tax liability. Not evaluating economic nexus.

Sales 130

Sales Tax Wisconsin Missouri 130

Withum

JULY 18, 2022

Wayfair eliminating the physical presence requirement for a state to impose a sales tax on sales of goods or services in that state. Out-state sellers, also called remote sellers, must collect and remit sales tax on goods and services sold in all states, even if they do not have a physical presence. State and Local Tax Services.

South Dakota 118

South Dakota Sales Tax Missouri 118

TaxConnex

MARCH 18, 2021

Wayfair created enormous changes for businesses making remote sales into the states related to sales tax. Sales Tax Perspective. In order to be required to collect and remit sales tax, a taxpayer must first have nexus , the connection that a business has with a state or other tax jurisdiction. Wayfair, Inc.

income tax 148

income tax South Dakota Sales Tax 148

CPA Practice

AUGUST 3, 2023

This list includes every back-to-school sales tax holiday this summer, from July 27, 2023, through the end of August. Sales tax rates are based on data from the Tax Foundation and are accurate as of January 2023. Sales tax rates are based on data from the Tax Foundation and are accurate as of January 2023. Exclusions may apply.

Sales 96

Sales South Carolina West Virginia Tax 96

TaxConnex

DECEMBER 22, 2020

The year’s ongoing pandemic affected almost every aspect of life – including, and in no small way, sales tax, which was already an area that has seen unprecedented change since the Supreme Court’s Wayfair decision in 2018. Even so, sales tax moved forward. Am I going to hit new nexus thresholds with an increase in online sales?

Sales 130

Sales Tax North Carolina Michigan 130