CPA Practice

JULY 12, 2023

Finally, SUI tax rates tend to change from calendar year to calendar year and can rise or fall depending on the economy and the state’s unemployment fund status. Some states require employers to pay additional payroll taxes. Some states have a progressive tax rate based on salary, while others charge a flat SIT rate.

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income tax Tax South Dakota Alaska 98

ThomsonReuters

APRIL 9, 2021

Employers were reimbursed with a payroll tax credit or a refund if the cost exceeded their tax liability. Credits were claimed through Form 941, the quarterly employment tax return. in South Dakota to a high of 9.2% The credit will be against the employer’s share of Medicare tax. in February.

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payroll tax Hawaii South Dakota payroll 98

ThomsonReuters

FEBRUARY 10, 2022

Department of Labor explains that unemployment insurance is a federal-state program financed through federal and state employer payroll taxes. The deadline for making voluntary unemployment contributions has already passed for some states like Missouri, Nebraska, Ohio, and South Dakota. Virgin Islands.

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Withum

MARCH 3, 2023

Supreme Court interpreted sales tax nexus under the Commerce Clause as a minimal physical connection with a state; however, in South Dakota v. The remaining five states do not impose a sales tax. What is nexus? Prior to June 2018, the U.S. Wayfair, 138 S. What do I need to get started with Withum’s nexus tool?

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ThomsonReuters

JUNE 22, 2021

But before we give you a state-by-state rundown on the more mundane upcoming changes, here’s one federal reminder that beginning July 1, 2021, the Employee Retention Credit is claimed against only the employer share of Medicare tax. State by State Payroll Tax Changes. South Dakota. Pennsylvania.

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xendoo

JANUARY 16, 2023

How Are Small Businesses Taxed? Depending on your business structure and income, you may be subject to one or more types of taxes. Other than income tax, your small business may be subject to payroll taxes, self-employment taxes, and more. You’ll also withhold income tax from employees’ wages.

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business tax Tax income tax payroll tax 52

TaxConnex

JANUARY 4, 2024

In recent months, many states with the twin threshold for filing (say, $100,000 in sales or 200 transactions) have found that the costs of administration of those transaction thresholds bring little economic benefit to the state’s tax collections. National sales tax H.R.25

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ThomsonReuters

DECEMBER 14, 2020

Three COVID-19 relief bills enacted in 2020 had wide-ranging tax implications for companies, Oaks noted—the CARES Act, the Families First Coronavirus Response Act, and the Paycheck Protection Program Flexibility Act. What do we expect to see next year as state’s start their legislative sessions?”

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