TaxConnex

JANUARY 3, 2023

1, when it and its local jurisdictions will be able to collect a use tax from remote sellers who sell and deliver more than $100,000 in tangible goods to consumers in the state annually. This decision may have physical nexus repercussions for the many online sellers who store inventory in Amazon warehouses nationwide.

South Dakota 194

South Dakota Sales Alaska Tax 194

TaxConnex

JANUARY 26, 2023

Among them: Online sellers will challenge more states’ concept of nexus and warehouses – especially for storing inventory for marketplace facilitators such as Amazon, subject of a recent victory for sellers in Pennsylvania. A state court there found that having inventory at such a facility was insufficient to create nexus.

Sales 130

Sales Tax Arkansas Missouri 130

TaxConnex

JULY 21, 2022

nexus requires remote sellers to collect sales tax because they hit certain thresholds of revenue or sales in states. enable these sales by listing the products, taking the payments, collecting receipts and in some cases assisting in shipment. But nothing’s that simple with sales tax. Off to marketplace. Situsing complexities. ?For

Sales 177

Sales Tax Pennsylvania Ohio 177

CPA Practice

NOVEMBER 10, 2023

For many small business retailers, managing a point-of-sale (POS) system comes with the territory of owning a store. How can accountants help their clients get ahead of messy data collection and unruly tax preparation? Let’s go back to our example of a pet store. The same goes for an activity within the store.

Sales 101

Sales business tax Tax tax preparation 101

TaxConnex

AUGUST 4, 2022

these sales by listing the products, taking the payments, collecting receipts and in some cases assisting in shipment. This produced a gap in tax collection. that states that marketplace providers are responsible for collection and remittance of the Wisconsin premier resort taxes. Marketplace facilitators enable?these

Wisconsin 130

Wisconsin North Carolina Michigan Iowa 130

TaxConnex

AUGUST 3, 2021

Sales tax collections during this period also surpassed collections during the second quarter of 2019, before the pandemic. Mississippi tax collections increased during the state budget year that ended June 30, driven in part by people shopping online. in 2Q21 compared with the same period of 2020.

Sales 209

Sales Tax Mississippi New Mexico 209

TaxConnex

FEBRUARY 2, 2023

The Massachusetts Supreme Judicial Court has reportedly upheld a state Appellate Tax Board decision in favor of an auto parts retailer who challenged efforts to retroactively collect online sales taxes. At issue was abatement of a retroactive tax bill that the state Department of Revenue sought to collect from U.S.

Massachusetts 130

Massachusetts North Carolina Wisconsin Tax 130

TaxConnex

DECEMBER 7, 2021

Two decades later, SSVE’s new accounting firm discussed several tax and accounting issues with McCabe, including SSVE’s failure to collect the appropriate amount of sales tax. SSVE and McCabe admitted their failure to collect and remit the full sales tax. McCabe still refused to change his ways. An inconvenient truth.

Alabama 186

Alabama tax return New York Tax 186

TaxConnex

JULY 19, 2022

In the meantime, your business may have to start collecting and remitting states’ sales tax – with severe penalties if you don’t. The provisions of Wayfair allowed South Dakota to compel businesses with at least $100,000 in gross revenue sourced to the state of South Dakota to collect the applicable sales tax. What do you need to know?

South Dakota 213

South Dakota Sales Tax tax consultant 213

TaxConnex

DECEMBER 20, 2022

Free trials, tiered plans, 24/7 support, thousands of app integrations, unlimited storage and bandwidth… Truly does sound like what Forbes called an “all-in-one platform [with] everything you need to launch an online store.”. What about sales tax? Doesn’t file or remit.

Sales 130

Sales Tax E-commerce tax accountant 130

CPA Practice

JULY 28, 2023

If you’re doing business in a state with a sales tax, you may know you need to register for sales tax, then collect and remit tax as required by law. Do I have to collect sales tax? Origin sourcing is usually the rule of thumb for in-store sales when the buyer walks out with bags in hand. Do I have to collect sales tax?

Sales 98

Sales Tax Retail New Mexico 98

TaxConnex

AUGUST 26, 2021

According to the National Retail Federation, non-store and online sales are expected to grow 18% to 23% this year over 2020. Online stores with a social media presence have an average of 32% more sales than those that don’t. If these thresholds are met, the business has a sales tax obligation to register, collect and remit sales tax.

E-commerce 221

E-commerce Sales Tax Missouri 221

TaxConnex

NOVEMBER 1, 2022

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. The marketplace facilitator is responsible for collecting and remitting the applicable sales tax.

Sales 130

Sales South Dakota South Carolina Illinois 130

DuctTapeMarketing

OCTOBER 29, 2020

However, the latter will garner more trust and will help the business get more on-topic backlinks for the keyword search of ‘London plywood store’. . If you’re in retail or eCommerce,STORE could be a good choice. store , a new domain extension for eCommerce and online stores, you will get the domain you want!

Start-ups 347

Start-ups Retail Technology 347

TaxConnex

MARCH 1, 2023

Failure to comply with the applicable sales tax rules can have a devastating effect on a business, but they’re often overlooked because they’re considered “pass-through” as the business is responsible for collecting the applicable taxes which pass through the business and are subsequently turned over or paid to the states.

Sales 130

Sales Tax audit tax return 130

CPA Practice

JANUARY 4, 2024

Although Google had represented publicly since mid-2016 that it would not collect user information during purportedly private browsing, Gonzalez Rogers wrote that the firm “did so anyway, collecting, aggregating, and selling plaintiffs’ private browsing data without their consent.”

Arkansas 106

Arkansas Florida California 106

CPA Practice

FEBRUARY 17, 2023

Comply with data security requirements Online marketplaces must implement and maintain reasonable security measures to ensure the data they collect from high-volume sellers is safe. Make a business collect your sales tax. More details will be forthcoming. You want to buy a firetruck?

Oklahoma 106

Oklahoma Arkansas Sales Tax 106

TaxConnex

NOVEMBER 18, 2021

Tax jurisdictions have long used physical nexus to determine whether a company has a sales tax collection and remittance obligation. This frees your business from having to collect and remit sales tax from that customer. When you’ve collected sales tax but have yet to register and remit to the state. Keep up in the future.

Sales 177

Sales Tax Non-Profits audit 177

TaxConnex

FEBRUARY 14, 2023

Once again, the top shopping destination to purchase Valentine’s Day gifts is online (35%), closely followed by department stores (34%) and discount stores (31%). Expected spending on gifts this year should average $192.80, up almost 10% from last year, according to the National Retail Foundation.

Rhode Island 130

Rhode Island Sales North Carolina Tax 130

TaxConnex

AUGUST 1, 2023

Pretty likely: At least one in every five products ordered online are returned, versus maybe one in 10 bought in a brick-and-mortar store. If [the merchant] retains a percentage of the original sales price, the sales tax collected on that retained amount must be remitted to the State and is not subject to a refund or credit.”

Sales 130

Sales Rhode Island Tax Michigan 130

TaxConnex

FEBRUARY 10, 2022

The key trend driving that complexity is that almost all states and scores of smaller jurisdictions require that out-of-state businesses calculate, collect and remit sales tax for an expanding variety of goods and services, which comes as e-commerce continues its upward trajectory. Register in appropriate states and jurisdictions.

Sales 198

Sales Tax E-commerce Alaska 198

TaxConnex

NOVEMBER 17, 2022

It used to be that you could create nexus only through a physical presence - an office or stored inventory in a state, among other methods. Additionally, a marketplace facilitator could potentially store consigned inventory in their warehouses and thus create a physical presence for your business.

Sales 130

Sales Tax Maryland Colorado 130

ThomsonReuters

JULY 10, 2023

Sales tax vs. use tax Summary Calculating, collecting, and reporting sales tax and use tax can get complicated as a business grows, and it can be easy to confuse these two types of indirect taxes. Sales tax is a tax collected by a company on the retail sales of goods and services when the final sale in the supply chain is reached.

Sales 97

Sales Tax Arizona Georgia 97

CPA Practice

MARCH 22, 2024

The solution will support multinational companies headquartered in North America to collect, align, calculate and report integrated financial and tax data in accordance with Organisation for Economic Co-operation and Development (OECD) Pillar Two tax requirements.

Tax 52

Tax Technology tax preparation corporation tax 52

Xero

JUNE 16, 2022

This is where the new Xero App Store comes into play. However, this can be made easier by collecting payments on-site, rather than after. . It collects feedback and insights on employee sentiment using the Shift Engagement feature, helping small business owners and managers take action to bolster their team’s wellbeing.

Technology 118

Technology accounts payable Manufacturing Tax 118

TaxConnex

JANUARY 18, 2022

Let’s say you go to the store to buy an item. That store charges you sales tax at the point of sale. If the store is not the original manufacturer of the item, then they purchased that inventory, and they did not pay sales tax on it. The sales tax burden was passed on to you (the consumer).

auditor 198

auditor Manufacturing Tax Sales 198

CPA Practice

APRIL 4, 2023

consumers plan to spend a collective $24 billion on Easter this year, up from $20.8 As in previous years, most consumers (54%) say they will buy Easter gifts from discount stores. Other shopping destinations include department stores (42%), online (33%), local and small businesses (22%), and specialty stores (20%). “We

Retail 111

Retail Sales payroll 111

TaxConnex

SEPTEMBER 15, 2022

If you are a business that must collect and remit sales tax, an audit is probably one of your biggest fears. Using a marketplace facilitator can also give you physical nexus if they store inventory in a tax jurisdiction. Not knowing your taxability. Neglecting ‘zero-due’ filings. Not expecting an audit.

audit 162

audit Sales Tax auditor 162

ThomsonReuters

JANUARY 19, 2023

That data must not only be collected, but verified for accuracy, and manipulated for use. Spreadsheets and manual processes are not the answer for tax data collection and analyzation. This can significantly reduce corporate tax data collection and preparation time, and boost accuracy.

Tax 59

Tax corporation tax Start-ups tax planning 59

CPA Practice

JANUARY 9, 2024

To maintain data confidentiality, you need to protect information from unauthorized access while you are sending the data as well as when it is stored on local hardware. AI tools may store data to train their natural language model or to share your input data with third parties. Understand how the AI tools you use retain data.

accounting firms 122

accounting firms Account accountant accounted 122

CPA Practice

MARCH 21, 2024

The ability to collect receipts via text reduces the time accountants spend chasing employees for receipts and other details. They no longer have to store paper receipts and can complete expenses quickly. “This obliviates the need to carry paper expenses along with me.”

Expense Management 65

Expense Management Account accountant accounted 65

PYMNTS

JANUARY 27, 2021

Target will be working with Levi Strauss on a new limited edition collection, featuring new home and lifestyle items, according to a press release. In addition, the collection will come with the Levi's trucker jacket and sleepwear, the release says. “We

Sales 83

Sales Retail 83

CPA Practice

JUNE 21, 2023

“It’s not about the occasional smash-and-grab at the local big-box store,” Bonta said. Organized retail theft has become the subject of national attention in recent years, with stores and government officials alike sounding the alarm. Estimates vary widely on how much money stores lose from instances of organized retail theft.

Retail 96

Retail California Government Sales 96

Snyder

JUNE 17, 2022

In the United States, for example, sales tax is collected by the seller at the time of purchase and remitted to the appropriate state tax authority. In the United States, the federal government does not collect sales tax, but individual states have the authority to do so. Does Shopify Collect Sales Tax?

Sales 52

Sales Tax E-commerce Non-Profits 52

CPA Practice

APRIL 10, 2023

Brick-and-mortar retailers, florists, grocery stores, restaurants, and online sellers and marketplaces are among the businesses subject to the RDF. Businesses cannot pay the fee on behalf of customers; by law, they have to collect the fee from customers, and they have to separately state the fee on invoices and statements.

Colorado 108

Colorado Retail Tax Sales 108

PYMNTS

JANUARY 7, 2021

Hochrieser noted that, upon bringing health-related information into digital identities , collecting and disseminating that data should ideally be done through partnerships between private companies, official organizations (such as the World Health Organization ) and governments. Did anyone change that data and what happened to it?”

Transportation 144

Transportation Healthcare Government Technology 144

Xero

AUGUST 7, 2023

This year, you can expect to see 80+ exhibitors at the event, including more than 70 leading Xero App Store app partners. GoCardless GoCardless puts you in control of collecting payments directly from your customers. Amazon Web Services Amazon Web Services offers scalability, security, and savings for businesses of any size.

bookkeeping 91

bookkeeping E-commerce Tax Account 91