4th Annual Suit Drive
Texas Energy Star Sales Tax Holiday
TEXAS – Shoppers, upcoming break from state and local sales and use taxes on purchases of certain energy efficient products during Memorial Day weekend! Qualifying products are: • Air conditioners priced at $6,000 or less • Refrigerators priced at $2,000 or less • Ceiling fans • Incandescent and fluorescent light bulbs • Clothes washers •…
Is Welding As A Service Taxable? What You Need To Know
TEXAS – Welding may be taxable when it constitutes the performance of a taxable service. It is determined by the specific type of work performed and whether it’s an improvement to realty or tangible personal property. If after installation the item’s removal from the property would not cause substantial damage to the property or destroy…
1928
MISSOURI: Starting April 19th through the 25th, all retail sales of qualifying Energy Star-certified new appliances will be exempt from state and county sales taxes. The following, providing they are Energy Star certified and up to $1,500 each, is a list of qualifying items: Clothes washers Water heaters Dishwashers Air conditioners Furnaces Refrigerators freezers Heat…
Preparing For An Audit
3 simple tips on preparing for an audit: ORGANIZE RECORDS. You may have underpayed or overpayed sales tax. Having your records (sales/use tax returns, federal returns, sales tax transactions, etc) organized and easily accessible will help in supporting transactions. DON’T RUSH AUDIT PROCESS. It can be time consuming because the auditor will do a thorough…
A Humongous Win Win
Specialized tax savings engagements have incredible appeal because clients can achieve immediate financial benefits greater than the fees charged. Besides possessing or having access to the requisite expertise, firms developing a tax savings practice have two obstacles to overcome, according to a partner in a firm very successful in that regard. One is obviously the…
Internet Based Sales; Taxable or Non-Taxable?
What all ebayers should know. Many business owners face a common question of whether or not to tax their internet-based sales. If you are an internet-based retailer, this article is for you. Each state has their owned de minimis rules for what activities establish a business as being “Engaged In Business” in their state. You…
Constructing A Sound Sales Tax Defense
Davis & Davis LLC constructs a sales tax defense to resolve an audit that lingered over 12-months.A local commercial and residential marble contractor based in Irving, TX which serves the DFW metroplex area had average annual sales of $1,500,000 over the 4 years of the audit period. The company’s clientele includes restaurants, supermarket chains, gas…
$3.5 Million in Legalized Marijuana Taxes and Fees
COLORADO – The numbers are in! According to data, during the month of January, the first month of recreational pot sales, the legalized industry earned more than $3.5 million in revenue. Recreational marijuana is taxed in several ways. 15% excise tax, 10% special sales tax, 2.9% sales tax. Medical marijuana has another 2.9% sales tax….