TaxConnex

AUGUST 24, 2021

In the world of sales tax, they’re major marketplace facilitators. A marketplace facilitator is a platform where third-party sellers of any size and geographic area can facilitate retail sales, including the collection/processing of payments, in exchange for compensation. Amazon, eBay and Etsy are more than household names.

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Sales South Dakota Tax South Carolina 212

TaxConnex

AUGUST 11, 2022

A few recent developments – including scams and fine definitions –across the country show how sales tax compliance can be complicated. New York: An appeals court ruled last month against a company that claimed eligibility for sales tax refunds on several purchases of concrete. contact TaxConnex.

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Sales Tax North Carolina Pennsylvania 130

TaxConnex

JANUARY 17, 2023

Online sales could not exist without shipping, and the charges associated with shipping are subject to sales tax in many states. Question is, who has to pay that sales tax these days, and where? As with most details of sales tax, much depends on the situation, jurisdiction and new laws.

Rhode Island 130

Rhode Island West Virginia Alaska North Dakota 130

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.

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Sales Rhode Island South Dakota Tax 180

TaxConnex

FEBRUARY 14, 2023

Candy, flowers, diamonds, romantic dinners out or a movie snuggled on the couch: The year’s biggest day for dates looms again, and here’s an update on sales tax considerations for Valentine’s Day. If your business sells popular Valentine’s Day items online, you should know a few rules related to sales tax and taxability.

Rhode Island 130

Rhode Island Sales North Carolina Tax 130

CPA Practice

MARCH 22, 2024

By Brian Gordon, Raleigh News & Observer (TNS) With offices overlooking right field of Durham Bulls Athletic Park, the tax compliance software provider Avalara intends to add 100 workers to its downtown location in Durham, NC, by the end of the year. We want to scoop up the talent leaving other companies that are in decline.”

North Carolina 59

North Carolina E-commerce Technology Tax 59

TaxConnex

JULY 15, 2021

There’s always something changing in the world of tax, especially sales tax. Colorado lawmakers have adopted SB21-282 , which extends the exception to destination sourcing requirements; the exception applies only to businesses with less than $100,000 in retail sales. As of Feb. As of Feb.

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Sales Tax Louisiana North Carolina 141

Cherry Bekaert

APRIL 22, 2024

individual states offer unique tax credits and negotiated incentives to attract or retain business operations. The credit may be used against income tax, and excess credit may be used against payroll withholding tax in certain situations. Throughout the U.S., The incentive amount varies by location and industry.

South Carolina 105

South Carolina North Carolina Mississippi Georgia 105

CPA Practice

APRIL 5, 2024

Earlier this week WalletHub released a study that shows which states’ residents have the highest and lowest tax burden , measured as the proportion of total personal income that residents pay toward state and local taxes. The study looks at how much tax the average person is estimated to pay in each state throughout their lifetime.

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West Virginia Rhode Island South Dakota North Dakota 127

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. Here’s a look back at some of the year’s developments.

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Sales Tax North Carolina Michigan 130

CPA Practice

APRIL 3, 2024

A new study by WalletHub revealed that residents of New York state are burdened by taxes the most among the 50 states, while Alaska residents have the lowest tax burden. The following are some key findings from WalletHub’s study: As previously stated, New York has the highest overall tax burden, while Alaska has the lowest.

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Rhode Island Alaska Tax New Hampshire 111

CPA Practice

APRIL 9, 2024

A new study by WalletHub revealed that residents of New York state are burdened by taxes the most among the 50 states, while Alaska residents have the lowest tax burden. The following are some key findings from WalletHub’s study: As previously stated, New York has the highest overall tax burden, while Alaska has the lowest.

Rhode Island 106

Rhode Island Alaska Tax New Hampshire 106

CPA Practice

JULY 18, 2023

Worldwide retail ecommerce sales could reach $6.169 trillion in 2023 and comprise 22.3% of total retail sales. If you’re part of that rising tide, you need to know how to tax shipping and delivery charges. A combined charge for shipping and handling may be taxed differently from separate charges for shipping and handling.

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Sales Retail Tax West Virginia 98

CPA Practice

FEBRUARY 6, 2024

State and local taxes, also often referred to as SALT, are one of the most dynamic areas of tax practice, with thousands of jurisdictions across the U.S. imposing increases or newly-created taxes on real or other property. In response to the dismissal of the earlier state lawsuit, Apple Inc.

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South Dakota Tax Maryland income tax 124

TaxConnex

JANUARY 7, 2021

If you were to read our 5 Steps to Sales Tax Compliance, or any guide on maintaining sales tax compliance, understanding the taxability of your products and/or services would be one of the first steps. Taxability becomes confusing with software which tends to have varying tax rules from state-to-state.

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North Carolina Technology Nebraska Alaska 239

ThomsonReuters

APRIL 25, 2024

Navigating state taxes on retirement income is a critical aspect of financial planning for retirees. While federal tax rules apply uniformly across the country, state tax rules can vary widely. Jump to: • State tax on retirement income • Which states do not tax retirement income?

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South Dakota Rhode Island New Hampshire Wyoming 52

CPA Practice

JANUARY 3, 2024

Taylor, Kiplinger Consumer News Service (TNS) As we venture into the new year, 2024 brings a wave of changes in state taxes across the country. From gas taxes to property tax amendments and income tax cuts, being aware of these changes is crucial since state and local taxes are among the highest taxes most people pay.

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Tax Kansas income tax Montana 128

TaxConnex

FEBRUARY 2, 2023

The Massachusetts Supreme Judicial Court has reportedly upheld a state Appellate Tax Board decision in favor of an auto parts retailer who challenged efforts to retroactively collect online sales taxes. At issue was abatement of a retroactive tax bill that the state Department of Revenue sought to collect from U.S.

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Massachusetts North Carolina Wisconsin Tax 130

TaxConnex

APRIL 5, 2022

Tangible personal property has historically been subject to the collection and remittance of sales tax while many services have been non-taxable (or exempt). More and more services are becoming taxable and represent a potential big wave of tax changes and updates in the years ahead. If your business sells?software determined?that

North Carolina 160

North Carolina Connecticut New York Colorado 160

ThomsonReuters

SEPTEMBER 19, 2023

Earlier this summer, Kentucky, North Carolina, and Vermont all enacted laws that legalize and tax sports wagering activities. percent tax rate is imposed on the adjusted gross revenue from sports wagers placed at a licensed track and a 14.25 Similar efforts in Texas, Missouri, and Georgia failed to garner enough support.

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Sports North Carolina Vermont Missouri 52

TaxConnex

AUGUST 4, 2022

This is a business or organization that contracts with third-party businesses to sell goods and services on its platform and facilitates retail sales.?Marketplace these sales by listing the products, taking the payments, collecting receipts and in some cases assisting in shipment. This produced a gap in tax collection.

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Wisconsin North Carolina Michigan Iowa 130

Cherry Bekaert

AUGUST 2, 2023

Opioid Settlement Funds Opioid Settlement Funds were also highlighted, noting that governmental units need to fulfill both the requirements of the North Carolina Memorandum of Agreement (MOA) and the North Carolina Local Government Budget & Fiscal Control Act.

North Carolina 92

North Carolina accounting and finance financial statements Government 92

CPA Practice

APRIL 11, 2024

Smith, Bloomberg Opinion (TNS) Back in 2017, the debate around President Donald Trump’s tax cuts was a case study in how quickly a discussion around legitimate policy can descend into partisan nonsense. On one side, Republicans spouted unfounded claims that the tax cuts would pay for themselves. In 2022, federal revenue came in at $4.9

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Tax North Carolina corporation tax Sales 52

inDinero Tax Tips

APRIL 11, 2023

Incorporation is a critical legal matter that impacts more than your company’s tax responsibilities for doing business. Delaware is considered “the place” to establish your corporate entity as there’s no Delaware sales tax. Delaware is considered “the place” to establish your corporate entity as there’s no Delaware sales tax.

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Delaware Nevada Tax Sales 52

TaxConnex

JUNE 22, 2021

The years since June 2018 have been unlike anything in the history of sales tax. Supreme Court Wayfair decision three years ago empowered tax jurisdictions with the sudden authority to require thousands of companies to collect and remit sales tax. How has the sales tax landscape changed in just 36 months?

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South Dakota E-commerce South Carolina Missouri 130

CPA Practice

OCTOBER 18, 2023

One crucial factor to consider when selecting your business location is the tax environment. Business taxes can significantly impact your bottom line and overall profitability. The importance of business taxes As an entrepreneur, you face countless decisions when starting a business.

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business tax Tax Alaska South Dakota 59

xendoo

JANUARY 16, 2023

Filing taxes as a small business owner can be complex, with numerous factors to consider. From tax law revisions to the overwhelming number of forms, understanding your small business tax rate and how to file can be difficult. Your business entity type and preferred filing status will also affect your tax rate.

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business tax Tax income tax payroll tax 52

PANALITIX

DECEMBER 3, 2020

Specifically, they want to work with clients who VALUE their skills and insights, rather than ‘checking tax returns’. In the words of the founder of a North Carolina-based 12-person accounting firm, “Changing my mindset was the first important step I took in reforming my business. Dedicate some available time to… sales.

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Account accountant accounted North Carolina 231

Snyder

JUNE 9, 2022

For e-commerce business owners, income tax filing season marks the start of a highly stressful time. Among the taxes that e-commerce businesses need to file, income tax is the most common one. To help you meet the income tax filing season fully armed and prepared, we have compiled a step-by-step guide. What is income tax?

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income tax tax return Tax E-commerce 52

inDinero Tax Tips

APRIL 20, 2021

Incorporation is a critical legal matter that impacts more than your company’s tax responsibilities for doing business. Delaware does tax companies. In 2011, Delaware garnered $860 million in taxes and fees from out-of-state business entities incorporated under its laws. With so few taxes, how does Delaware rake it in?

Delaware 64

Delaware Wyoming Nevada Oregon 64

PANALITIX

NOVEMBER 30, 2020

Specifically, they want to work with clients who VALUE their skills and insights, rather than ‘checking tax returns’. In the words of the founder of a North Carolina-based 12-person accounting firm, “Changing my mindset was the first important step I took in reforming my business. Dedicate some available time to… sales.

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Account accountant accounted North Carolina 130

PYMNTS

MARCH 16, 2017

Commerce Department posted the lowest growth in retail sales seen in the past six months on Wednesday (March 15). While sales were up a reported 0.4 Chain apparel sales dropped 0.5 The Commerce Department’s report additionally indicated that, excluding sales from automobiles and service stations, consumer spending increased 0.2

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Sales Retail North Carolina Tax 40

CPA Practice

MAY 17, 2023

FORVIS Adds Aaron Schaal as Tax Partner in New York FORVIS recently announced the hiring of Aaron Schaal as a partner with its tax team in New York. tax planning experience as well as considerable international tax and transfer pricing experience to FORVIS. Schaal brings significant U.S. He also earned a J.D.

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South Carolina North Carolina Colorado audit 52

CPA Practice

NOVEMBER 1, 2023

Bureau of Economic Analysis figures compiled for Stateline by the Urban-Brookings Tax Policy Center in Washington, D.C. North Dakota’s per capita personal income rose to $73,414, giving it the 12th highest income in the country, up from 16th in 2019. In Connecticut, personal income tax revenue took a $1.3 Democratic Gov.

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North Dakota South Dakota Utah Connecticut 52

PYMNTS

JANUARY 10, 2018

The lawsuit alleged a breach of contract for adding sales tax and a fee to the total fare amount, which then boosted the amount of service fees owed to the company. In July, a federal court in North Carolina gave conditional certification to the class-action suit brought by Uber drivers in that state.

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North Carolina New York Start-ups Government 44

PYMNTS

AUGUST 16, 2019

In fact, several states saw double-digit growth during that period, including a 43 percent increase in North Carolina, and a 50 percent increase in Florida. Instead, these products will get hit with a 10 percent tax on Sept 1. That could have a big impact on Apple, which faced disappointing sales for its latest iPhone.

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North Carolina Florida Maine Tax 46

PYMNTS

SEPTEMBER 27, 2019

Sam’s Club is teaming with Humana and other firms to offer discounts on healthcare services to members in Pennsylvania, Michigan and North Carolina. What Local Sales Tax Laws Mean for Tobacco eSellers . Sam’s Club Introduces Bundled Healthcare Benefits. Congress Presses Fed On Real-Time Payments Plan .

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North Carolina Kansas Michigan Healthcare 49