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Sales tax and Marketplaces: Who owns the responsibility?

TaxConnex

Stored inventory can trigger physical nexus for a retailer (though states such as Illinois and Pennsylvania may be easing off of that stance). The platform also offers tools to verify exemptions and varied fees, including recycling fees and retail delivery fees. sales tax will be collected by eBay and included in the order total.

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Answers to Retail Business Questions About Sales Taxes

CPA Practice

Understanding how sales tax works is fundamental for every retailer. This is most likely to arise with sales of digital products or services — because retailers generally need a shipping address to deliver physical goods like a rolling pin. By Gail Cole Is sales tax based on shipping address or billing address?

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Hot Topics: Taxability | TaxConnex

TaxConnex

The purchaser – not the retailer/business – has the responsibility for determining whether a sale is exempt from tax. In a recent update discussed in our webinar, Utah made it effective last year that sellers were required to obtain an updated exemption certificate if more than 12 months had elapsed between transactions.

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Loopholes and other odd sales tax rules, part 2

TaxConnex

Diapers and groceries are taxed in Hawaii, Idaho, Utah, Kansas, Missouri, Oklahoma, Arkansas, Tennessee and Alabama, Mississippi and South Dakota. Playing dress-up Clothing is taxable in most states and the District of Columbia. Sales taxes are getting more complex all the time.

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FDIC Approves Square For Banking License

PYMNTS

The Federal Deposit Insurance Corporation ( FDIC ) gave the green light to an application from the FinTech firm Square to create a de novo industrial bank in Utah, the agency said on Wednesday (March 18). Square Financial Services will originate commercial loans to the retailers that use Square for payments.

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Apple To Reopen Approximately 100 US Retail Locations

PYMNTS

Apple , which runs 510 retail locations throughout the globe, intends to open roughly 100 U.S. Apple will reportedly open stores again this week in Georgia, Florida, Texas, Utah, Arizona, Nevada and Missouri, among other states. stores this week. Apple’s locations, for their part, many times anchor key shopping centers or areas.).

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Today In Retail: Past Macy’s CEO Anticipates More Store Closures, 46 Pct Of Americans Plan To Travel For December Holidays

PYMNTS

In today’s top retail news, former Macy’s CEO Terry Lundgren said he anticipates more store closings next year, while about half of Americans intend to travel for the December holidays amid the pandemic. Past Macy's CEO Foresees More Retail Store Closings In 2021. Past Macy's CEO Foresees More Retail Store Closings In 2021.

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