TaxConnex

JUNE 1, 2021

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. Most taxing jurisdictions mandate on-time filing and full payment of tax due, among other conditions, to qualify for these discounts.

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Sales Tax South Carolina Utah 232

TaxConnex

FEBRUARY 23, 2023

All hail sales tax! Taxing certain goods dates back as far as 4,000 years. Ancient Egypt taxed cooking oil, for instance. The tax was levied on a product people had to buy and were forbidden to reuse (coincidentally, the Pharaoh had a monopoly on production). Later, Caesar Augustus boosted the rate to 4%.

West Virginia 130

West Virginia Sales Rhode Island Tax 130

TaxConnex

JULY 8, 2021

Many states use sales tax holidays to waive or reduce sales tax on various items. Location, location, location is the rule when it comes to sales tax holidays. But holidays cover both state and local taxes in Oklahoma, Virginia, Texas, and other states.

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Sales South Carolina Tax E-commerce 196

TaxConnex

MAY 26, 2022

Sales of tangible personal property (TPP) are presumed to be taxable unless specifically identified as not taxable. However, certain exemptions could apply making the sale of TPP exempt from sales tax in some situations. Sales tax obligations start with nexus. Assessing your footprint. Wholesaling evolves.

South Dakota 167

South Dakota South Carolina Sales Illinois 167

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

OCTOBER 27, 2022

States are like that, too: sometimes candy is considered food (groceries) for sales tax purposes, sometimes it’s not and sometimes it’s somewhere in between. In many states, for instance, liquor-filled candy – which admittedly few are going to give to kids on Halloween – can be taxed differently than regular candy.

Sales 130

Sales West Virginia South Dakota Tax 130

TaxConnex

OCTOBER 18, 2022

Our Halloween-month look at tricky items for sales tax continues here with a few items it’s hard to live without…. Some states (of course) have special sales tax rules for clothing. California, Idaho and Tennessee exempt only clothing sales for some nonprofits, for example. Thirteen states tax groceries.

Rhode Island 130

Rhode Island Sales Tax South Carolina 130

TaxConnex

DECEMBER 30, 2021

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. Happy new fear. Illinois, on Jan.

Sales 192

Sales Tax Maryland West Virginia 192

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

NOVEMBER 1, 2022

Businesses have new ways to sell today, as marketplaces such as Amazon and the business’s own website have joined established channels like direct retail sales and wholesale sales. Each brings different sales tax implications – and retail and ecommerce businesses aren’t always aware of their obligations.

Sales 130

Sales South Dakota South Carolina Illinois 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

MARCH 22, 2022

Collecting and remitting sales tax to states and other tax jurisdictions is time consuming and can be expensive. Somebody can: the states and tax jurisdictions themselves. collection discount to help with the costs of managing sales tax.?If Utah discounts local taxes as well as state. businesses,?these

Sales 194

Sales Utah Tax South Carolina 194

TaxConnex

OCTOBER 5, 2021

Soon after you start dealing with states’ sales tax, you’re going to also run into another term: excise tax. What is excise tax? And is it different from sales tax? A different kind of tax pie. Federal, state, and local governments can all impose excise taxes. Calculating and Charging.

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Sales Tax South Carolina Hawaii 177

CPA Practice

DECEMBER 19, 2023

The start of a month typically brings some number of tax-related changes. Erie County, New York, exempts energy sources and services New York state sales tax doesn’t apply to retail sales of residential energy sources and services, but local sales tax does apply in many jurisdictions, including Erie County.

South Carolina 111

South Carolina Tax Florida tax return 111

TaxConnex

JULY 13, 2023

As we saw last time, sales tax holidays are continuing to enjoy a heyday this year. South Carolina , Aug. Online sale of the item must take place during the holiday, even if delivery is later. 13-19: Qualifying clothing and footwear priced $100 or less will be exempt from sales tax. Iowa , Aug.

Sales 130

Sales West Virginia South Carolina Tax 130

TaxConnex

OCTOBER 25, 2022

There’s always something changing in the world of tax, especially sales tax. The Urban Institute told news outlets that 25 states recently reported year-over-year declines in sales tax receipts, a jump of more than a third in just a month. Nationwide, sales tax receipts were up 1.5% Inflation bites.

South Dakota 130

South Dakota Sales Tax South Carolina 130

CPA Practice

AUGUST 3, 2023

This list includes every back-to-school sales tax holiday this summer, from July 27, 2023, through the end of August. Rules for tax-free shopping can vary from state to state. So, just because something is tax-exempt in one state doesn’t mean it will be in another. Does Summer Camp Qualify for a Childcare Tax Credit?

Sales 96

Sales South Carolina West Virginia Tax 96

TaxConnex

JUNE 8, 2021

There’s always something changing in the world of tax, especially sales tax. They were the last two states with a sales tax to set up such requirements.). The bill requires the collection and remittance of sales and compensating use tax by most marketplace facilitators beginning July 1.

Sales 143

Sales Tax Arkansas South Carolina 143

TaxConnex

NOVEMBER 12, 2020

Technology companies, and specifically software companies, have always had challenges related to managing sales tax. But with the proliferation of Software-as-a-Service (SaaS) as a delivery mechanism and Wayfair, the sales tax landscape has become exponentially more complex. Sales Tax Nexus.

Technology 130

Technology Sales Tax South Dakota 130

TaxConnex

NOVEMBER 7, 2023

Hard to believe if you’ve ever dealt with sales tax jurisdictions, but they will actually give you a break on paying your sales tax in the form of vendor compensations and discounts. South Carolina gives a big break to retailers who aren’t required to collect and remit the state sales but volunteer to do so.

South Carolina 147

South Carolina Colorado Pennsylvania Kentucky 147

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.

West Virginia 126

West Virginia Rhode Island South Dakota North Dakota 126

TaxConnex

MAY 19, 2022

Given the complexity that already exists regarding sales tax, it’d be great if states were the only jurisdictions that levied them. Local Sales Taxes. Economic nexus is the threshold at which a seller incurs sales tax obligations; most states have set one in the four years since the Supreme Court’s Wayfair decision.

Alaska 189

Alaska Colorado Louisiana West Virginia 189

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?

South Dakota 52

South Dakota Rhode Island New Hampshire Wyoming 52

TaxConnex

MARCH 21, 2024

There’s always something changing in the world of tax, especially sales tax. The Court of Appeals of South Carolina has affirmed a state Administrative Law Court (ALC) finding that the online retail giant remains liable for eight figures in unpaid sales tax on third-party sales from 2016, interest and penalties.

South Carolina 194

South Carolina Sales Tax Alabama 194

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?

South Dakota 130

South Dakota E-commerce South Carolina Missouri 130

LyfeAccounting

JULY 22, 2021

if you love paying property taxes then this is not the post for you. Because today, we’re going to uncover the best states to live in to save on property taxes. We recently published a post with a list of the worst property taxes by states. And was it ugly that some states had property taxes as high as 2.5%

South Carolina 52

South Carolina Hawaii West Virginia Delaware 52

PYMNTS

OCTOBER 28, 2019

Wayfair case that allowed states and individual cities to launch tax policies aimed at remote sellers and marketplaces is still reverberating in 2019 and will likely affect online retail in 2020. In Q3 2019, 14 states started collected online sales tax and 11 more followed in October. eBay Makes a Deal. eBay Makes a Deal.

South Carolina 41

South Carolina Sales Tax South Dakota 41

LyfeAccounting

JULY 22, 2021

if you love paying property taxes then this is not the post for you. Because today, we’re going to uncover the best states to live in to save on property taxes. We recently published a post with a list of the worst property taxes by states. And was it ugly that some states had property taxes as high as 2.5%

South Carolina 52

South Carolina Hawaii West Virginia Delaware 52

TaxConnex

JANUARY 24, 2023

Shipping is indispensable to eCommerce yet sales tax on it remains a mishmash of regulations across the states. In our previous blog, we looked at how exemptions, the taxability of the item being shipped and selling into tax-free states affect sales tax on shipping.

Sales 26

Sales Tax South Carolina Massachusetts 26

PYMNTS

SEPTEMBER 1, 2016

One of the more long-grumbled complaints in retail is that Amazon and other eCommerce players are able to exploit a loophole that allowed them to mostly avoid charging sales tax. Would collecting sales tax 100 percent of the time take a bit out of Amazon’s bottom line? Recent data suggests — probably not.

South Carolina 40

South Carolina Sales Tax Colorado 40

PYMNTS

OCTOBER 24, 2019

Wayfair ruling gave states and cities permission to tax remote sellers and online marketplaces based on their economic participation in the state, regardless of whether they had physical presences. Online retailers aren’t sitting still when faced with new taxes — and some are even fighting back in court.

Sales 40

Sales Tax Kansas South Dakota 40

PYMNTS

DECEMBER 26, 2019

Merchants aiming to sell nationwide must pay attention to how their goods are treated by each state’s tax code. Items considered as exempt medical necessities in some states may be taxed at high rates in others, and businesses cannot afford to be caught by surprise. Around The Next-Gen Sales Tax Wor ld.

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Tax South Carolina Alaska Louisiana 52

PYMNTS

DECEMBER 30, 2019

Wayfair Supreme Court decision continue to rattle online merchants, as three states (California, Louisiana and South Carolina) are now trying to collect eCommerce sales tax retroactively, as far back as five years. have moved to collect sales tax from remote sellers, and it’s just the beginning.

Alaska 52

Alaska South Dakota Tax South Carolina 52

PYMNTS

JUNE 21, 2018

States can collect sales taxes from online retailers thanks to a U.S. The 5-4 decision essentially overturns the court’s 1992 ruling that states can collect sales taxes only from retailers that maintain a physical presence in those states. retail sales. billion in tax revenue in 2017,” according to the report.

South Dakota 47

South Dakota Sales Tax North Dakota 47

Anders CPA

SEPTEMBER 28, 2022

Even if a state doesn’t require sales tax on SaaS, the company may still need to file if they pass a certain threshold of sales. State Tax Considerations for SaaS Companies. For tax purposes, the definition of SaaS may differ from state to state. Does My State Tax SaaS? Anders State and Local Tax services.

Rhode Island 52

Rhode Island West Virginia South Dakota South Carolina 52

ThomsonReuters

FEBRUARY 15, 2023

property taxes, which help fund roads, schools, emergency medical services, and other services, are a vital source of revenue for state and local governments. Property tax rates vary greatly among states and localities and can have a major impact  on business investments and where people decide to live.

Tax 52

Tax Real Estate Kansas South Dakota 52

TaxConnex

AUGUST 17, 2021

Sales tax is full of complexities, but there are certain topics that seem to cause more of a headache than others. Who’s responsible for the tax? Who is ultimately responsible for the sales tax in this three-party transaction? Drop shipments are one of those topics.

South Carolina 239

South Carolina Utah Illinois Sales 239