TaxConnex

NOVEMBER 14, 2024

They simply take orders and facilitate a retail sale and then buy from other suppliers. Though they might seem to be one transaction, drop shipments are really two: one transaction between the distributor and the retailer and another between the retailer and the end-user customer.

South Carolina 162

South Carolina Sales Illinois Arkansas 162

CPA Practice

AUGUST 9, 2024

Retail sales continued to grow in July as consumers shopped for school and college supplies and took advantage of special promotion days offered by some retailers, according to the CNBC/NRF Retail Monitor , powered by Affinity Solutions, from the National Retail Federation. That compared with increases of 0.3%

Sales 119

Sales Retail Sports 119

TaxConnex

OCTOBER 15, 2024

The customer will ask the retailer to ship the piece to them in another state, maybe a state like New Hampshire that doesn’t have a sales or a use tax. If the retailer agrees and the product is in fact boxed and shipped to New Hampshire, there’s a good chance that will be a transaction exempt from sales tax.

Sales 203

Sales New Hampshire Tax income tax 203

CPA Practice

SEPTEMBER 13, 2024

Retail sales increased again in August as consumer demand and easing inflation overcame slower job growth, according to the CNBC/NRF Retail Monitor , powered by Affinity Solutions, presented by the National Retail Federation. That compared with increases of 0.74% month over month and 0.92% year over year in July.

Sales 119

Sales Retail Sports 119

CPA Practice

JULY 31, 2024

Washington could be on its way to becoming the third state in the nation with a retail delivery fee, following the route paved by Colorado and Minnesota. So, what would a Washington retail delivery fee look like? What is a retail delivery fee? A retail delivery fee is not a tax but functions much like one.

Washington 111

Washington Retail Minnesota Colorado 111

TaxConnex

JANUARY 2, 2025

Retail delivery fees started in Colorado in 2022, with a fee ( now 29 cents ) on every retail delivery made by motor vehicle to a destination in the state. Retailers, online marketplaces and services (almost all of whom were loudly unhappy with the RDF began) must charge the shipping fee.

Sales 147

Sales Tax South Dakota North Dakota 147

CPA Practice

JULY 9, 2024

Monthly inbound cargo volume at the nation’s major container ports is continuing to rise despite a variety of supply chain challenges, according to the Global Port Tracker report from the National Retail Federation and Hackett Associates. The first half of 2024 is expected to total 12.04 million TEU, up 14.4% from the same period last year.

Retail 115

Retail New Jersey Virginia New York 115

CPA Practice

SEPTEMBER 6, 2024

With the economy slowing but still growing and inflation down as the Federal Reserve prepares to lower interest rates, the United States appears to have dodged a recession, according to National Retail Federation chief economist Jack Kleinhenz.

Retail 111

Retail Manufacturing Gaming Finance 111

CPA Practice

OCTOBER 16, 2024

Halloween can be a scary time for retailers. With that kind of sales volume, it’s imperative for retailers to get the sales tax on candy right — and it’s not easy. HDNA also created a tax compliance challenge for retailers within the Navajo Nation, per the study. Comments by two retailers illustrate some of their pain points.

Retail 119

Retail Tax Washington Vermont 119

Withum

FEBRUARY 19, 2025

Opening Remarks The Future of Automotive Retail The conference began with a presentation on the future of automotive retail, highlighting the current state of dealership profitability. Let’s Chat The post The Future of Automotive Retail: Insights From the 2024 AICPA Dealership Conference appeared first on Withum.

Retail 52

Retail Sales Technology Tax 52

TaxConnex

NOVEMBER 21, 2024

Black Friday for retail, the kickoff day for holiday shopping, started almost half-century ago with long lines outside brick-and-mortar stores and the dawn unlocking of doors (and the occasional injury of a shopper in the stampede). retail sales during the 2023 holiday season grew 3.8% Is Black Friday still that big? A total of $123.5

Sales 147

Sales Retail Tax online accounting 147

CPA Practice

OCTOBER 31, 2024

tax professionals responsible for managing sales tax obligations for independent retailers reveals that 97% of respondents say they have automated or plan to automate their sales tax compliance process. Disparate ways of identifying tax changes: Getting and staying informed is crucial for independent retailers to meet tax obligations.

Sales 116

Sales Tax accounting and finance bookkeeping 116

CPA Practice

DECEMBER 2, 2024

Though they generate goodwill and repeat business, retailers are not exactly happy to be stuck with returned inventory. Now, your client retailers are thinking the unthinkable: Giving customers refunds but letting them keep their unwanted goods. Returned products are a headache. Returned products are a headache.

Retail 52

Retail Non-Profits Illinois Tax 52

CPA Practice

SEPTEMBER 6, 2024

retailers face significant challenges when navigating sales tax holidays, according to a new report from Avalara, Inc. , While these holidays are designed to boost consumer spending and businesses’ sales, the complexities involved have actually left nearly 60% of retailers struggling to make a profit. Small and midsize U.S.

Retail 116

Retail Sales Tax Government 116

CPA Practice

MARCH 10, 2025

Total retail sales, excluding automobiles and gasoline, were down 0.22% seasonally adjusted month over month but up 3.38% unadjusted.

Retail 108

Retail Sales 108

TaxConnex

MAY 1, 2025

E-commerce began and soon exploded as a spinoff from brick-and-mortar retail. This pairing of e-commerce and brick-and-mortar retail, sometimes called on-demand delivery, means a mouse click and digital payment initiate delivery within an hour or two. There are 10,000-plus tax jurisdictions in the U.S.,

E-commerce 147

E-commerce Sales Tax Kansas 147

Ace Cloud Hosting

DECEMBER 10, 2024

The retail industry is navigating a rapidly evolving landscape driven by shifting consumer behaviors, supply chain disruptions, and fierce competition. Retailers are under constant pressure to adapt to these changes.

Retail 98

Retail quickbooks 98

TaxConnex

FEBRUARY 22, 2024

Capital One reports that global e-commerce retail sales will hit some $6.91 from total e-commerce retail sales in 2023. retail e-commerce sales for 2023 through the third quarter were $833 billion, up 7.6% retail e-commerce sales is expected to top $2 trillion by 2027. retailers – the largest such market in the world.

E-commerce 264

E-commerce West Virginia Kansas Virginia 264

TaxConnex

JANUARY 5, 2021

But understanding who is exempt for sales tax in a resale transaction involving drop shipments comes down to two distinct transactions when states are looking at it: The transaction between the retailer selling the product to the end-customer and the manufacturer/distributor that will be shipping it out; and. Seems easy enough.

Sales 246

Sales Tax Manufacturing California 246

TaxConnex

JANUARY 23, 2025

In some cases, however, a state might consider a remodeling to be a retail sale, in which case the contractor becomes a retailer contractor (see below) who can buy materials exempt from tax and charge sales tax on the gross price of that contract.

Sales 147

Sales North Carolina Tax Construction 147

TaxConnex

AUGUST 27, 2024

Are home rule/online retailer cases likely to stay few and far between? The Wayfair/Lakewood case has been dismissed with prejudice, with both parties left to cover their own costs. Probably not. But is it likely that changes will be made, also probably not.

Colorado 264

Colorado Sales Tax Alaska 264

TaxConnex

JULY 15, 2022

The Washington Department of Revenue upheld a retail sales tax assessment on a taxpayer who failed to collect retail sales tax on sales to a renewable energy company. According to the court, the company made “retail sales” by arranging and managing such “roll-out” work in Washington.

Wisconsin 240

Wisconsin Louisiana Washington Arizona 240

CPA Practice

FEBRUARY 17, 2025

The value of retail purchases, not adjusted for inflation, decreased 0.9% after an upwardly revised 0.7% gain in December, Commerce Department data showed Friday.

Retail 98

Retail Sales 98

TaxConnex

AUGUST 17, 2021

Understanding who owns the sales tax obligations when it comes to drop shipments hinges on knowing the nexus of the business/retailer that’s making the sale to the end-user and the nexus of the drop shipper/distributor. The reselling retailer must issue an exemption certificate for resale to the distributor that is valid in Illinois.

South Carolina 246

South Carolina Utah Sales Illinois 246

TaxConnex

SEPTEMBER 13, 2022

Remote retail sales just got rockier in Colorado, which has begun imposing a 27-cent fee on every retail delivery made by motor vehicle to a destination in the state. The fee must be separately stated on the customer’s invoice as “retail delivery fees.”. Wholesale sales or sales of exempt goods are not subject to the fee.

Colorado 246

Colorado Tax Sales tax return 246

TaxConnex

SEPTEMBER 5, 2024

Under current law, there is often confusion regarding when delivery charges related to retail sales are subject to sales and use tax,” the state says. Delivery charges are also taxable when the retailer is responsible for installing the product upon delivery.” The fee must be separately stated on the invoice as “retail delivery fees.”

Sales 264

Sales Tax Rhode Island Kansas 264

TaxConnex

DECEMBER 5, 2023

Gym and fitness chains and warehouse retailers, for example, use the internet to sell memberships to their franchised businesses all over the country. Retail Again, this sales tax on this kind of membership varies greatly by state. States don’t take membership sales tax lightly. The state socked Books-A-Million with a $242,076.97

South Carolina 264

South Carolina Sales Tax West Virginia 264

RogerRossmeisl

MARCH 23, 2025

For example, a retail employee bent on fraud may enter a nonexistent sale into a point of sale (POS) system to generate a commission. Because its sometimes impossible to spot crooks in your midst, be aware of potential sales commission fraud schemes and how best to detect and prevent them.

CPA 147

CPA Sales Retail 147

TaxConnex

JANUARY 30, 2024

Generally, a marketplace facilitator is a business or organization that contracts with third parties to sell goods and services on its platform and facilitates retail sales. States seem to believe that marketplace facilitators – most of which are much larger than most retailers – constitute a rich source of tax revenue.

Iowa 264

Iowa Pennsylvania Illinois Sales 264

CPA Practice

NOVEMBER 27, 2024

Retailers expect to have instant, accurate tax calculations at the point of sale to meet customer expectations for seamless transactions. Implement resilient tax calculation systems Retail environments perfectly exemplify the critical need for resilient tax systems.

Tax 116

Tax Technology Retail audit 116

TaxConnex

OCTOBER 27, 2020

When states refer to a "sales tax", they usually mean the tax charged to the customer by an in-state retailer at the time a taxable transaction occurs. As a privilege tax, the tax is imposed on the retailer for the privilege of doing business in the state. To obtain such a number, the retailer will need to register with the state.

Sales 246

Sales Tax Retail auditor 246

TaxConnex

FEBRUARY 15, 2024

If a retailer participates in Amazon’s FBA program and sells under the retailer’s name on Amazon, then retailer is responsible for the B&O tax on those sales at the retailing rate. Also, the retailer must make the election in the contract for Amazon to collect their sales tax.

Sales 263

Sales Tax Illinois Washington 263

TaxConnex

DECEMBER 5, 2024

Online retail ruled Black Friday , Nov. The explosion of online holiday shopping in and around Thanksgiving has evolved beyond conversational. It’s now expected – and getting bigger every year. 29, this year, even as in-person shopping dropped slightly. Adobe Analytics reported $10.8 billion in U.S. online sales on Black Friday, up 10.2%

Sales 147

Sales Tax Retail 147

TaxConnex

JULY 12, 2022

Colorado will begin imposing a 27-cent fee on every retail delivery made by motor vehicle to a destination in the state, beginning July 1. The seller is responsible for collecting and remitting the retail delivery fee even when delivery is made by a third party and the retail delivery fee must be separately stated on the customer’s invoice.

Sales 246

Sales Tax Oklahoma Illinois 246

TaxConnex

NOVEMBER 3, 2020

Revenue from out-of-state online retail, however, was one of the few bright tax spots, said Comptroller Glenn Hegar. A recent act of lawmakers changed “any” to “the” for remote retailers and greatly reduced potential past tax liability. Texas state sales tax revenue totaled $2.57 billion in September, 6.1 Tony Evers.

Sales 246

Sales Wisconsin Tax Vermont 246

TaxConnex

SEPTEMBER 14, 2021

A marketplace facilitator that facilitates retail sales of $250,000 or more into Alabama through its platform must register with the state and then either comply with the reporting requirements or collect and remit the SSUT flat rate of 8% on taxable retail sales made through the facilitator’s platform. Alaska Gov.

Sales 245

Sales Alabama Tax Alaska 245

TaxConnex

DECEMBER 12, 2024

A marketplace facilitator is a platform where third-party sellers of any size and location can facilitate retail sales by listing their products. Whats a marketplace facilitator? These days, marketplace facilitators process payments, collect receipts, sometimes assist in shipment and assume collecting and remitting sales tax.

Sales 147

Sales Oklahoma Arkansas Alabama 147