TaxConnex

MAY 23, 2023

Last time we looked at a sample of the strange sales tax laws regarding food, including a sliced bagel in New York. If only that was the only complex category concerning sales tax. Diapers and groceries are taxed in Hawaii, Idaho, Utah, Kansas, Missouri, Oklahoma, Arkansas, Tennessee and Alabama, Mississippi and South Dakota.

South Carolina 130

South Carolina South Dakota Sales Montana 130

CPA Practice

SEPTEMBER 12, 2023

By Katelyn Washington, Kiplinger Consumer News Service (TNS) Following Tropical Storm Idalia, the IRS has granted tax relief to South Carolina residents impacted by the storm. The relief includes certain extended federal tax filing and payment deadlines. Some state tax filing and payment deadlines have also been extended.

South Carolina 64

South Carolina Tax tax return income tax 64

TaxConnex

OCTOBER 13, 2022

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. This new line of business raises a few sales tax questions, chiefly regarding the electricity flowing into the vehicles.

South Carolina 130

South Carolina Sales Tax Colorado 130

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

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.

Sales 232

Sales Tax South Carolina Utah 232

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. The holidays may only cover state sales tax but not local sales taxes, as in South Carolina (which, like other states, has no price cap on eligible items).

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Sales South Carolina Tax E-commerce 197

TaxConnex

MAY 26, 2022

However, certain exemptions could apply making the sale of TPP exempt from sales tax in some situations. The buyer wants to make the original purchase exempt from sales tax, and they expect to then charge sales tax when they sell the item. Sales tax obligations start with nexus. Assessing your footprint.

South Dakota 167

South Dakota South Carolina Sales Illinois 167

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). Salestaxes are no exception.

West Virginia 130

West Virginia Sales Rhode Island Tax 130

CPA Practice

OCTOBER 2, 2023

October 16 is this year’s deadline for taxpayers who requested additional time to file their taxes. However, taxes expected to be owed were required to be owed by the original April 18, 2023, deadline. Those in the counties of Maui, Hawaii, and many counties in Florida, South Carolina and Georgia have until Feb.

South Carolina 124

South Carolina Tax income tax Georgia 124

CPA Practice

AUGUST 15, 2023

By Katelyn Washington, Kiplinger Consumer News Service (TNS) Some states have laws that allow inflation to dictate higher property taxes. That’s because revenue from property taxes is used to fund police and fire departments, maintain roads, and other initiatives that benefit the public. And counties across the state are raising taxes.

South Carolina 94

South Carolina Michigan Tax Washington 94

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? For sales tax purposes, you’ll see reference to “shipping,” “shipping and handling” (Arizona taxes these two, for instance) and “delivery”.

Rhode Island 130

Rhode Island West Virginia Alaska North Dakota 130

CPA Practice

MAY 8, 2023

Reducing taxes is one way to cut costs, and sometimes moving from a high-tax state to a low-tax state can eliminate thousands of dollars in expenses year after year. Tennessee, Texas, and Florida are among the most commonly moved-to states, and it just so happens that these states don’t tax income.

New York 125

New York California North Carolina South Carolina 125

Accounting Today

SEPTEMBER 6, 2023

The IRS is giving South Carolina residents impacted by the storm later filing and payment dates.

South Carolina 120

South Carolina Tax 120

TaxConnex

NOVEMBER 1, 2022

Each brings different sales tax implications – and retail and ecommerce businesses aren’t always aware of their obligations. The exemption question Sales tax obligations start with nexus, the concept that enables state and local governments to require businesses to collect and remit sales tax on the products and services they sell.

South Dakota 130

South Dakota Sales South Carolina Illinois 130

CPA Practice

FEBRUARY 9, 2024

However, if you are among the 68 million people expected to place bets on the big game, you need to know that taxes are part of the equation. So, as we start tax season, here’s what you need to know about what your Super Bowl bet has to do with your tax return. Super Bowl 2024 is on Sunday, Feb. Usually, the payer (e.g.,

Gambling 122

Gambling Tax Sports South Carolina 122

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. Not merely because’.

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. South Carolina, Ohio and Virginia exempt some protective clothing. Figuring sales tax on food depends on where and how the food is sold.

Rhode Island 130

Rhode Island Sales Tax South Carolina 130

TaxConnex

AUGUST 24, 2021

In the world of sales tax, they’re major marketplace facilitators. Marketplace facilitators are required to charge sales tax where they have nexus (the connection between a tax authority and a company). It wasn’t long before states recognized that there was still a large portion of internet-based sales that weren’t being taxed.

Sales 213

Sales South Dakota Tax South Carolina 213

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 Slightly more than half the states offer various discounts for sales tax filers.

Sales 195

Sales Utah Tax South Carolina 195

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.

Sales 178

Sales Tax South Carolina Hawaii 178

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.

Rhode Island 181

Rhode Island Sales Tax South Dakota 181

TaxConnex

JULY 13, 2023

As we saw last time, sales tax holidays are continuing to enjoy a heyday this year. South Carolina , Aug. 13-19: Qualifying clothing and footwear priced $100 or less will be exempt from sales tax. Connecticut: Tax-free week begins on the third Sunday of August and runs until the following Saturday. Iowa , Aug.

Sales 130

Sales West Virginia South Carolina Tax 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. Other states intensified their sales tax moves.

Sales 193

Sales Tax Maryland West Virginia 193

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

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. in real terms.

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

Cherry Bekaert

JANUARY 18, 2024

The New Markets Tax Credit (NMTC) program has been issuing tax credits for more than two decades as a driving force for investors to aid low-income communities across the United States. Contact Us The post New Markets Tax Credits and Innovate Fund Award appeared first on Cherry Bekaert.

South Carolina 52

South Carolina North Carolina Tax Tennessee 52

CPA Practice

OCTOBER 16, 2023

October 16 is this year’s deadline for taxpayers who requested additional time to file their taxes. However, taxes expected to be owed were required to be owed by the original April 18, 2023, deadline. Those in the counties of Maui, Hawaii, and many counties in Florida, South Carolina and Georgia have until Feb.

South Carolina 111

South Carolina income tax Georgia Vermont 111

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. And 2021 continues to prove that.

Sales 143

Sales Tax Arkansas South Carolina 143

Cherry Bekaert

NOVEMBER 6, 2023

Company Background An award-winning residential real estate home builder with projects in Georgia and South Carolina was able to take advantage of the Section 45L Energy Efficient Home Credit (Section 45L) to save more than $350,000. By providing tax incentives and credits, homes can be more affordable for buyers.

Real Estate 75

Real Estate Construction South Carolina Tax 75

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. Customization and Implementation.

Technology 130

Technology Sales Tax South Dakota 130

CPA Practice

FEBRUARY 11, 2023

After several days of requests by taxpayers, state agencies and the National Taxpayer Advocate , the Internal Revenue Service has provided clarifying the federal tax status involving special payments made by 21 states in 2022. Alaska is in this group as well, but please see below for more nuanced information.

Rhode Island 131

Rhode Island South Carolina income tax Idaho 131

CPA Practice

APRIL 21, 2023

So it was a huge win on Tuesday when Ford’s F-150 Lightning became one of just 10 vehicles to qualify for the full $7,500 in tax breaks laid out by the Inflation Reduction Act. The tax credits also only apply to new EVs with a sticker price below $55,000, or trucks and SUVs priced under $80,000. or don’t use American parts and pieces.

South Carolina 111

South Carolina Tax Iowa Colorado 111

Withum

MARCH 23, 2021

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South Carolina 52

South Carolina Tax 52

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 are becoming an increasing burden for online sellers as cities, counties and towns nationwide constantly tinker with their own sales taxes and other jurisdictions create new economic nexus rules.

Alaska 190

Alaska Colorado Louisiana West Virginia 190

CPA Practice

APRIL 12, 2023

million people across the nation (state-by-state list below) have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return. billion in refunds remain unclaimed because people haven’t filed their 2019 tax returns yet. The Internal Revenue Service says that nearly 1.5 The IRS estimates almost $1.5

Rhode Island 122

Rhode Island tax return Tax West Virginia 122

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