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Utah State Tax Updates

Withum

For the latest news and updates on Utah state and local tax. Utah Seeks to Lower Income Tax Rates and Improve the State EITC Program. On February 11, 2022, Utah’s Governor Spencer Cox signed S.B. The post Utah State Tax Updates appeared first on Withum.

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Coronavirus Refunds: Utah Jazz To Provide Season Ticket Fans With Reimbursements

PYMNTS

The Utah Jazz is providing reimbursement and credit choices to season ticket holders for the 10 home games left to be played for the 2019-20 regular season, Deseret reported. Coronavirus digital payments mobile payments NBA News sports ticket refunds Utah Jazz

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FDIC Approves Square For Banking License

PYMNTS

The Federal Deposit Insurance Corporation ( FDIC ) gave the green light to an application from the FinTech firm Square to create a de novo industrial bank in Utah, the agency said on Wednesday (March 18). The headquarters will be in Salt Lake City, Utah.

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Turkish Authorities Search For Suspect In US Tax Fraud Scheme

PYMNTS

Turkish prosecutors have issued a detention warrant for Turkish businessman Sezgin Baran Korkmaz, who has ties to Utah business executives who recently pleaded guilty to a $511 million tax credit scheme in the U.S.,

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Road Tech That Can Alert Drivers To Hazards, Congestion In Testing

PYMNTS

Utah officials estimate that new vehicle-to-everything, or V2X, technology could reduce the severity of traffic crashes by 80 percent, the Wall Street Journal (WSJ) reports.

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The Enigma of Drop Shipments for Sales Tax Purposes

TaxConnex

Let’s say the distributor is in Arkansas and the retailer is still in South Carolina, but the customer is in Utah instead of Illinois. The distributor has nexus and is registered for sales and use tax purposes in Utah but the retailer is not registered in Utah.

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Vendor concessions/discounts can help pay to outsource sales tax obligations

TaxConnex

Utah discounts local taxes as well as state. For example, Utah recently nixed a big?seller non-nexus remote sellers who voluntarily collected and paid Utah sales tax.??.

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Grant Thornton and Five Other Firms Got Coal in Their Stockings From the PCAOB

Going Concern

The PCAOB said: In December 2016, the Utah DOPL simultaneously initiated and concluded disciplinary proceedings against Grant Thornton (“Utah Proceeding”). The Utah Proceeding concerned conduct that resulted in sanctions imposed on the firm by the U.S.

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End of the Year Sales Tax Updates to be Aware of as You Start 2022

TaxConnex

Utah reported that total collections from all sources administered by its Tax Commission for FY 2021 were $13.97 There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates. State updates. Kansas Gov.

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Suzy’s Story: Grounds for Coffee

MazumaBusinessAccounting

But when her husband proposed that they open one of the first coffee shops in Ogden, Utah, she agreed. Some people enter the small business world knowing this is what they were meant to do. Suzy was not that person.

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Sales Tax and Vitamins/Dietary Supplements

TaxConnex

Special, more detailed conditions for sales tax on these products apply in California, Illinois, Massachusetts and Utah. You won’t find too many more confusing sales tax scenarios than the one involving dietary supplements.

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Tricky items for sales tax (Part 3)

TaxConnex

Ditto Utah – except if a transaction includes both food/ingredients and other taxable items of tangible personal property. Our Halloween-month look at tricky items concludes with a natural: candy. Consumers are expected to spend more than $3.1 billion on candy this Halloween.

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Google Slapped With Antitrust Lawsuit Filed By Coalition Of 38 States

PYMNTS

In addition to Texas, states involved in the Paxton suit include other Republican attorneys general from Arkansas, Idaho, Indiana, Kentucky, Mississippi, Missouri, North Dakota, South Dakota and Utah.

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Sales Tax on Shipping: When Does it Apply?

TaxConnex

Stating the shipping cost separately on the invoice affects its taxability in Alabama, Arizona, Illinois, Iowa, Maryland, Oklahoma, Utah, Virginia and Wyoming.

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What's new in state sales and use taxes

TaxConnex

Utah has released and updated a publication regarding the sales taxation of tangible personal property attached to real property, as well as guidelines on who must collect and pay the sales tax on those sales. There’s always something changing in the world of tax, especially sales tax.

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Is Software as a Service Taxable? 

Anders CPA

Arizona Connecticut District of Columbia Hawaii Iowa Louisiana (1/1/2023) Massachusetts Maryland Minnesota Mississippi New Mexico New York Ohio Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Washington West Virginia. Is Software as a Service (SaaS) taxable?

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Predatory ‘Rent-a-Bank’ Lending Practices Trigger Calls For Regulation

PYMNTS

OppLoans, for example, partners with a Utah bank and charges an average of 199 percent, according to its website. Utah has no caps on interest rates. “A OppLoans and its Utah partner FinWise Bank have a rent-a-bank partnership that gives it the freedom to avoid caps in numerous states.

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Google Faces Lawsuit From Multiple States Over Digital Ad Tactics

PYMNTS

In addition to Texas, states involved in the suit include Arkansas, Idaho, Indiana, Kentucky, Mississippi, Missouri, North Dakota, South Dakota and Utah, WSJ reported.

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Biden Getting GOP Pushback On $1.9 Trillion COVID Stimulus

PYMNTS

Lisa Murkowski of Alaska and Mitt Romney of Utah, part of the bipartisan senators that worked on the package, aren’t sure another round is needed, especially at the price of $1.9 President Joe Biden’s $1.9

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Court Denies Remedies for Mental Health Parity Violation

ThomsonReuters

Utah 2022). Premera Blue Cross, 2022 WL 2208927 (D. Available at [link]. A self-insured health plan denied coverage for a minor child’s residential mental health treatment, finding that the treatment was not medically necessary.

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Revolut Likely To Apply For US Bank Charter

PYMNTS

Square's offering, by contrast, will be an industrial-loan company, supervised by the Utah Department of Financial Institutions and the Federal Deposit Insurance Corp.

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FTC Refunds $12M To Consumer Victims Of Bogus Online Trial Memberships

PYMNTS

The FTC alleged the Utah-based company operated deceptive trial memberships and bogus government grant and money-making schemes in 2010. A federal jury in Utah convicted Johnson and Ryan Riddle of making false statements to a bank on multiple I Works merchant account applications.

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WeLink Lands $185 Million In Financing For 5G Network Rollout

PYMNTS

Utah startup WeLink has raised $185 million to roll out its 5G fixed-wireless broadband network in new markets across the United States, the company announced in a Thursday (Jan.

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Alt Lending Apps Show Staying Power In New Rankings

PYMNTS

4 this go-around is Utah-based FuturePay , with interest-free POS lender Zip Pay making it into the Top 5 at No. It goes by many names. Instant credit.” Point-of-sale (POS) lending.”

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Second Google Lawsuit May Be Filed Next Month By State AGs

PYMNTS

The states involved include Colorado, Iowa, Nebraska, New York, North Carolina, Tennessee, and Utah, according to Reuters.

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Japanese FinTech Rakuten Applying For US Banking Charter 

PYMNTS

FDIC) and the state of Utah for an industrial loan company (ILC) charter. The bank would be headquartered in Utah and could handle users’ deposits, according to Lee Carter, Rakuten head of banking and potential ILC CEO. A Japanese FinTech company is applying for a banking charter in the United States, according to a report by American Banker.

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Some States Are Considering Shelving the Grocery Tax

CPA Practice

Among the states that considered repealing the grocery tax last year were Alabama, Idaho, Mississippi, Missouri, South Dakota and Utah. “I

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New York To Sunbelt State Tourists: Stay Home

PYMNTS

At the news conference, Cuomo called out several states with surging infection rates whose residents would be included in the quarantine should they travel to the Tri-State area, including Alabama, Arkansas, Arizona, Florida, North Carolina, South Carolina, Washington, Utah and Texas.

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VR Startups Create Entertainment Locations In Old Retail Space

PYMNTS

According to a report in TechCrunch , Virtualities of Salt Lake City, Utah currently has two locations with one in the Gateway Mall in Salt Lake City in an old Aeropostale store and another location in Layton, Utah. The Void, another VR entertainment company has a VR park in Lindon, Utah which combines a physical set with VR film experiences.

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Bitcoin Daily: SEC Freezes Crypto Firm?s Assets, Alleging It Stole $12M From Investors; Hong Kong: 39 Pct Of New FinTechs There Are Blockchain Firms; Coinbase Eyes Selling Blockchain Analytics To IRS, DEA

PYMNTS

The defendant in the case is Utah resident Daniel F. Rodriguez of Utah and Jean Paul Ramirez Rico of Colombia — are alleged to have lied to investors and misappropriated funds.

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Biden Administration May Be Open To Stricter Stimulus Requirements

PYMNTS

Lisa Murkowski of Alaska and Mitt Romney of Utah have already voiced critiques, saying they aren’t sure another round is necessary, especially not at the steep $1.9

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Court Declines to Enforce Plan-Imposed Limitations Periods Not Disclosed in Benefit Denial Notices

ThomsonReuters

Utah 2022); Anne A. Utah 2022). United HealthCare Ins. 2022 WL 957200 (D. United HealthCare Ins. 2022 WL 957199 (D. Anne A.

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Republicans Propose $600 Billion COVID Stimulus Compromise

PYMNTS

Susan Collins , a Maine Republican, has written a letter to Biden along with Mitt Romney of Utah, Rob Portman of Ohio, Lisa Murkowski of Alaska, and others, saying they were prepared to roll out their proposed legislation on Monday (Feb.

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Connecticut AG Launches Antitrust Probe Into Amazon’s eBook Business

PYMNTS

Google is also being investigated by attorneys general from several states, including California, Arizona, Colorado, Iowa, Nebraska, New York, North Carolina, Tennessee and Utah.

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Supermarkets Hoard Staples For Holidays, COVID Resurgence

PYMNTS

Associated Food Stores , a Salt Lake City, Utah-based cooperative that supplies supermarkets, said it has started to build what it’s calling “pandemic pallets” of sanitizing products so its warehouses will be fully stocked, Darin Peirce, vice president of Retail Operations, told WSJ. “We

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Rent-A-Center Acquires Acima For Virtual Lease-To-Own Platform

PYMNTS

Founded in 2013 in Salt Lake City, Utah, Acima operates in over 15,000 retail partner locations and eCommerce platforms. Rent-A-Center is acquiring Acima Holdings in a $1.65 billion deal to develop a virtual lease-to-own (LTO) platform.

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The latest on sales tax on shipping charges (part 2)

TaxConnex

Separately stated charges for delivery to the buyer are generally exempt in Virginia and exempt in Oklahoma, Utah, Wyoming. Shipping is indispensable to eCommerce yet sales tax on it remains a mishmash of regulations across the states.

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Square Partners With POWDR To Offer Ski Resorts Contactless Transactions

PYMNTS

Bachelor, Oregon; Woodward Park City, Utah; and SilverStar in British Columbia, Canada. Square has partnered with POWDR to advance payments, eCommerce and point of sale (POS) at ski resorts across the U.S. and Canada, according to a press release.

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Coinbase Offers Bitcoin Cash Loans Of Up To $20K In 17 US States

PYMNTS

Initially, the loans are available in the following states via the waitlist: Alaska, Arkansas, Connecticut, Florida, Georgia, Illinois, Massachusetts, New Hampshire, New Jersey, North Carolina, Oregon, Texas, Virginia, Nebraska, Utah, Wisconsin and Wyoming.

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Texas AG Paxton: More States Could File Antitrust Lawsuits Against Google 

PYMNTS

A bipartisan group of states — Colorado, Iowa, Nebraska, New York, North Carolina, Tennessee and Utah — is planning to file an antitrust lawsuit against Google sometime in this month.

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Galileo To Power Dave Banking App

PYMNTS

Galileo, headquartered in Salt Lake City, Utah, supports a variety of payment solutions. Payments processor Galileo will be powering Dave Banking , a banking startup that services people without long credit histories, the company announced in a press release Thursday (Nov.

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Nikola Motor CEO Defends $4M In PPP Funds

PYMNTS

CNBC reported the forgivable government loan comes months after the 38-year-old billionaire bought a 2,600-acre ranch in Utah for $32.5 Trevor Milton, the CEO and founder of Nikola Motor Company , is defending his company’s receipt of $4.1

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Goldman, JetBlue Team Up On Installment Loan Product

PYMNTS

billion despite buying startups and building call centers in Utah and Texas, according to The Wall Street Journal. Two days after JetBlue said it would temporarily consolidate service in five U.S. cities, the New York airline has joined Goldman Sachs to offer an installment loan product.

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