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What is a sales tax exemption?

TaxConnex

Sales and use tax nexus is defined as a connection between a person or entity and a taxing jurisdiction. Sales tax nexus is the basis for all your sales tax decisions because without sales tax nexus you have no further obligation to a state. sales tax compliance sales ta

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3rd Annual Sales Tax Market Research Survey Results Released!

TaxConnex

We have completed our third annual survey of top financial professionals on how they are managing sales tax. Survey highlights include: Financial leaders remain relatively unhappy with their approach to managing sales tax, with 52% reporting to be less than satisfied.

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Economic nexus overview - all states with sales tax now active

TaxConnex

Next summer will mark five years since the Supreme Court ignited economic sales tax nexus with the South Dakota v. Many businesses are still trying to figure out how to manage the resulting obligations, but one thing’s clear: Now every state with a sales tax has economic nexus.

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Multi-channel selling sales tax: Direct/retail sales

TaxConnex

Taxable sales of products direct to end users has been a staple of business for ages. One relatively new development is the complex overlay of sales tax on these transactions. Add internet sales to the mix and you’ve got sales tax obligations sprouting up these days more than ever.

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How to Set and Land High Prices: A Complete Workbook

Does pricing your services stump you? Throughout this proven workbook, you will learn that high-pricing is an essential function of your sales process!

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M&A negotiations and sales tax liability

TaxConnex

It’s a common scenario: A company has decided to sell, then due diligence turns up a $2 million risk in past sales tax obligations and compliance. Do you have solid positions and reasons for your sales tax decisions? Can you defend your sale tax position to minimize the escrow’s impact?

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Getting Sales Tax Registrations Right

TaxConnex

Sales tax is more complicated than ever, especially in a post-Wayfair world. And what’s worse is that everyone who says they’re simplifying sales tax is still leaving the hardest parts – and the liability – up to you. sales tax registrations ?will

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What happened in sales tax in 2022

TaxConnex

New sources of tax revenue, old ones robust but sputtering in spots, tax holidays as political tools amid inflation: It’s been a year of new trends in sales tax. Heading into the new year, state sales tax revenues were up coast to coast, often by double-digit percentages.

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Holiday Sales, Increased eCommerce Activity - and Sales Tax Obligations

TaxConnex

And that means that more companies may find themselves with new sales tax obligations. eCommerce sales – topping the $200-billion mark for the first time. How does this impact sales tax obligations? Then there’s the danger of sales tax audits.

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Can remote employees create sales tax nexus?

TaxConnex

A lot of times regarding sales tax, the answer to any question is, “It depends.” Covid created unique conditions for companies that must collect and remit sales tax, including many temporary breaks regarding worker locations. sales tax nexus sales tax compliance

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Sales tax for Shopify users

TaxConnex

million businesses have made over $200 billion in sales with the Ottawa, Ontario-based company’s websites. What about sales tax? Shopify is not required to collect and remit sales tax for its sellers, as it is not a marketplace facilitator like Amazon, eBay, or Etsy.

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Global Accounting Principles and Commission Capitalization

Speaker: Ryan Dillard, Chief of Staff Director at CBIZ ARC Consulting LLC; Kelly Hicks, Global Controller at Airbase

Join us for this webinar, where Airbase Controller Kelly Hicks and Ryan Dillard, a Director at CBIZ ARC Consulting, explore how to approach capitalizing global sales commissions.

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Multi-channel selling sales tax: Marketplace facilitators

TaxConnex

They’re platforms where third-party sellers of any size and geographic area can facilitate retail sales, including the collection/processing of payments, in exchange for compensation. Nothing’s ever simple in sales tax. your sales tax obligations?and

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Sales Tax Can Be Scary

TaxConnex

It may be the season of ghosts and goblins, but sales tax obligations last all year, and as many would admit, keeping track of all your sales tax obligations can be quite scary. What’s your shield when the sales tax monster comes after you? in sales).

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App purchases and sales and use tax

TaxConnex

Many tech companies consider themselves a service provider exempt from sales and use tax. But the 2018 Wayfair decision expanded the definition of nexus and and more of these businesses are now subject to sales and use tax collection, including on one of their product staples: apps.

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Why Sales Tax Technology Only Solutions Are Not Enough

TaxConnex

Since the Wayfair decision four years ago, sales tax compliance has had to become a major priority for businesses with multistate sales. From there businesses start to consider how they are going to charge sales tax – either on the invoice or in their shopping cart.

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Sales Tax Automation Mistakes

TaxConnex

If your business has an obligation to collect and remit sales tax, then you know how complex the process can be. Automating part or all of the sales tax process is sometimes necessary to maintain compliance. Let’s first look at the overall sales tax process.

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Be an Odd Duck: Work on, Not in Your Public Accounting Practice

Speaker: Tom Bowman, CPA of Bowman & Company

It is possible to run an Accounting Firm and never do tax returns or financial statements! Tom Bowman, Owner of Bowman & Company, CPA, PC shares his journey and 10 step process for going from Technician to Business Owner.

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Software, SaaS and Sales Tax

TaxConnex

If your business sells software or software-as-a-service (SaaS), you deal with one of the most complex sales tax situations, potentially without even realizing it. Regardless of whether you have sales tax nexus or not, many businesses assume that sales tax doesn’t apply to software or SaaS.

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Tricky items for sales tax

TaxConnex

We’re fond of saying that nothing’s ever easy in sales tax. And here we’ll kick off our run toward Halloween with a look at one of the newest and trickiest areas of sales tax: electric vehicle chargers and charging. Rely on sales tax experts to maintain your compliance.

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Sales Tax for Subscription Boxes

TaxConnex

Niche products lead the industry, a fifth of total sales. With booming sales across the country, businesses need to focus on if and how these subscription boxes are taxed. How is sales tax managed for this growing industry? How will you charge sales tax?

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2021: The Year in Review – Sales Tax

TaxConnex

Sales tax in 2021, though, seemed to move in only one direction: It intensified as even more states hopped on the economic nexus bandwagon and the sales tax burden for online businesses grew. Here’s a look back at some of 2021’s biggest developments in sales tax.

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What's new in state sales and use taxes

TaxConnex

There’s always something changing in the world of tax, especially sales tax. The fee will apply when at least one item is subject to sales or use tax and the delivery is mailed, shipped or delivered by motor vehicle. Wholesale sales or sales of exempt goods are not subject to the fee.

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Sales Tax Complexity Snapshot: Chicago

TaxConnex

Sales tax is complex for any business selling into multiple states. To further complicate this, Chicago does not apply sales tax to SaaS rather they apply a personal property lease transaction tax which is currently 9%. sales tax compliance sales tax filing

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Subscription Billing and Your Sales Tax Obligation

TaxConnex

The model does come with steady sales tax obligations and risks though, and if not properly understood, it could lead to significant sales tax risk in the business. Sales tax on groceries and prepared food also vary widely state to state.

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What was new in December for state sales and use taxes

TaxConnex

There’s always something changing in the world of tax, especially sales tax. Gary Bingel, partner-in-charge for state and local taxes in accounting firm EisnerAmper’s State and Local Tax National Tax Group, made several predictions for 2023 in sales and other taxes.

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State Discounts for Sales Tax

TaxConnex

Collecting and remitting sales tax can be onerous – and expensive – for any business. That’s one reason some states give a collection discount to help with the costs of managing sales tax. Conditions can change frequently – as often happens in the world of sales tax.

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How not to tank your sales tax audit (part 2)

TaxConnex

The sales tax audit can be one of the scariest – and costliest -- things an online business ever goes through. Be clear about your sales cycle, inventory, past compliance and other matters. At TaxConnex, our goal is to take sales tax off your plate.

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Blog: The 'XYZ Letter' and your sales tax compliance

TaxConnex

Complying with your sales tax obligations involves a lot of variables – your nexus, taxability of your products, type of customer you are selling to, etc. Another key factor that effects your sales tax obligations is related to exempt transactions and exemption certificates.

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How not to tank your sales tax audit (part 1)

TaxConnex

If you are a business that must collect and remit sales tax, an audit is probably one of your biggest fears. Rightly so: Sales tax audits can find fault with a variety of your operations and can cost you big– if the determination goes against you. sales tax compliance sales tax audits

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Blog: Gross vs. taxable sales: Which count toward economic nexus?

TaxConnex

Determining your sales tax obligations hinges on if your products or services are taxable and whether you have sales tax nexus which can be defined as either a physical presence or economic presence. your sales tax obligations?and sales tax compliance sales tax taxability

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5 reasons you need continuity in a sales tax provider

TaxConnex

In a field that changes as fast as sales tax, it’s a necessity. You generally have three options to address your sales tax compliance obligation: try to manage everything in-house; outsource to an experienced provider; or do nothing and roll the dice. Sales tax rules change fast.

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Sales Tax and Valentine's Day

TaxConnex

And it might land right on your company’s bottom line after sales and use tax obligations. If your business sells popular Valentine’s Day items online, you should know a few rules related to sales tax and taxability. for all your sales tax compliance needs.

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What’s new for state sales and use taxes

TaxConnex

There’s always something changing in the world of tax, especially sales tax. Inflation and other spiraling prices have driven states’ lawmakers to consider relief via sales and other taxes. and nearly halve the state sales tax on groceries, to 3.5%.

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Excise Tax versus Sales Tax

TaxConnex

Soon after you start dealing with states’ sales tax, you’re going to also run into another term: excise tax. And is it different from sales tax? sales tax), for instance, is a business privilege tax on the gross receipts of virtually any economic activity carried on in the state.

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Sales tax and crypto: Latest developments

TaxConnex

How does sales tax fit into this? According to a recent guide from Bloomberg , nine states treat crypto the same as they do cash for transactions for sale tax purposes: California, Kansas, Kentucky, Michigan, Minnesota, New Jersey, New York, Washington and Wisconsin.

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NOMAD States: The Latest on Sales Tax

TaxConnex

NOMAD and sales tax – I’m sure you’ve heard it before. When it relates to sales tax, the NOMAD states refer to the five American states without a statewide sales tax: New Hampshire, Oregon, Montana, Alaska, and Delaware. Mike Dunleavy has said he’d support a statewide sales tax.

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Options in Mitigating Past Sales Tax Liability

TaxConnex

Most businesses don’t set out to be non-compliant with sales tax, or anything for that matter. In fact, you probably have the best of intentions of meeting your sales tax obligations in the future. But what about sales tax liability from prior months?

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Deadlines galore: One of the biggest challenges of sales tax

TaxConnex

Too bad sales tax doesn’t come with a deadline that simple. State sales tax filing obligations come in a dizzying number of deadlines for you to follow (potentially with bad consequences if you don’t). When filing sales tax returns, due dates can include the 7th, 10th, 15th, 20th, 30th?and

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Blog: 6 things to know about sales tax in Canada

TaxConnex

What about the sales tax obligations? Our neighbors to the north share several similarities with the United States when it comes to sales tax – but there are key differences. GST, PST, and HST are more similar to a Value Added Tax rather than the sales tax that we know in the States.

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Top Skills Needed to Manage Sales Tax

TaxConnex

The majority of businesses still manage their sales tax obligations with internal staff, but do they have what it takes to manage sales tax effectively? Most businesses, especially smaller ones, don’t have or can’t afford a full sales tax department in these days of tight resources.

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Sales Tax and Vitamins/Dietary Supplements

TaxConnex

You won’t find too many more confusing sales tax scenarios than the one involving dietary supplements. So how do you manage your sales tax liability if you are selling vitamins, dietary supplements or other items that fall into this undescriptive category?

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The latest on sales tax on shipping charges (part 1)

TaxConnex

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? sales tax retail ecommerce

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