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Sales tax and accounting services

TaxConnex

But does tax preparation incur sales taxes – and if it does, where and how? For some 90 years, states have levied sales tax on goods (West Virginia was the first to do so , in 1921). State and local sales tax is sometimes levied on services but much more often applied to “tangible personal property.” Sourcing is huge.

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Sales tax and Marketplaces: Who owns the responsibility?

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Once upon a time, selling online meant little more than setting up a website and sending both marketing efforts and sales direct to your customers from you. jurisdictions also involves dealing with sales tax. On a marketplace platform, who has responsibility for the sales tax? But selling in U.S.

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Loopholes and other odd sales tax rules, part 2

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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.

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Tricky items for sales tax (Part 3)

TaxConnex

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.

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Sales Tax on Shipping: When Does it Apply?

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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.

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What’s new in sales tax?

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There’s always something changing in the world of tax, especially sales tax. Midyear sales tax. The Tax Foundation released its “State and Local Sales Tax Rates, Midyear 2023” report of the 45 states (and the District of Columbia) that collect statewide sales taxes and the 38 states where local sales taxes are collected.

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5 Common Sales Tax Mistakes That Can Put You At Risk for Non-Compliance

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You’re trying to run a business and sales tax is not at the forefront of your plans. Make sure you aren’t making these common mistakes to ensure you have sales tax in order and aren’t at risk for penalties and fees in the case of an audit. SaaS), you deal with one of the most complex sales tax situations today.

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