article thumbnail

Treasury’s On-Demand Pay Proposal Shows IRS’s Concern with Constructive Receipt, Says Tax Services Director

ThomsonReuters

A tax services director in Washington D.C. says that the Treasury Department’s proposal to clarify the tax treatment of on-demand pay arrangements makes it “clear” that the IRS is concerned with the constructive receipt issue of this trending employee benefit.

article thumbnail

Can an eCommerce platform alone manage sales tax?

TaxConnex

These thresholds vary state to state and change often, with Missouri being one of the latest to enact economic nexus. Usually all retail sales of tangible personal property (TPP) are taxable, but many states have started to tax services. Taxability.

Sales 211
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Sales Tax on Shipping: When Does it Apply?

TaxConnex

The United States is a galaxy of shipping, handling and delivery rules when it comes to sales tax. All shipping incurs sales tax in Kansas, for instance, and ditto (generally) in the District of Columbia. Shipping does not incur sales tax in Missouri. Shipping is not taxed in Nevada, but handling is.

Sales 190
article thumbnail

Proposed Senate Legislation to Relieve Sales Tax Compliance Burden

Withum

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. To complicate matters, all states that impose a sales tax, except Missouri, which will be in effect in 2023, enacted an economic nexus standard of its own.

article thumbnail

New Missouri Tax Credit Incentivizes Businesses to Hire Interns and Apprentices

Anders CPA

The DED will establish the procedure for claiming the tax credit and will certify eligible applicants to the Missouri Department of Revenue. Anders State and Local Tax advisors keeps a close eye on evolving legislation around tax credits and incentives. Genesis Clay, tax intern, contributed to this article.

article thumbnail

The latest on sales tax on shipping charges (part 2)

TaxConnex

Stating the shipping cost separately on the invoice, for instance, affects taxability in Alabama (as does how the item is delivered), Arizona, Iowa, Maryland, Massachusetts (if the shipping cost “reasonably reflects” the vendor’s real cost), Missouri and Wisconsin – but not in Tennessee.

Sales 26
article thumbnail

Year-End State and Local Tax Planning Perspective

Withum

Physical and economic nexus for sales tax purposes should be reviewed regularly to identify jurisdictions where additional collection (and self-assessment) responsibilities exist. Reach out to a member of Withum’s State and Local Tax Services Team for guidance as year-end approaches. Contact Us. Let’s Chat.