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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. Similarly, Software-as-a-Service is non-taxable in a variety of states.

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Construction contractors and sales tax

TaxConnex

If you’re in this industry, the last thing you need added to your load is sales tax. Generally, a business in the construction industry is performing a service, and most services are excluded from sales and use tax. But sales tax has to be your concern if you engage in contracts in different states.

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BBD Joins Its Practice With Withum

Withum

Withum is excited to announce that on March 31, 2024, BBD LLP (BBD); a public accounting, tax and advisory firm dedicated to serving nonprofit and government organizations headquartered in Philadelphia, will join its practice with Withum. The post BBD Joins Its Practice With Withum appeared first on Withum.

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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? Let’s say you’re the seller.

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Hot Topics: Taxability | TaxConnex

TaxConnex

Most states change their sales tax rate laws on either Jan. and a ton of local jurisdictions with the authority from their states to change their individual tax rates. Take software-as-a-service. Kentucky was the latest state to subject SaaS to sales tax, effective last year. An annual review should work.

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Tricky items for sales tax (Part 2)

TaxConnex

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.

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What's new in May for state sales and use taxes

TaxConnex

What’s new in May for state sales and use taxes. There’s always something changing in the world of tax, especially sales tax. Exempting groceries from sales tax as American families struggle with inflation and other economic woes is politically tempting. million in taxes a year on the sale of groceries.

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