TEXAS -After two-years of wrangling over sales tax, in 2012, former comptroller Susan Combs reached an agreement with the on-line retailer over uncollected and un-remitted sales tax owed to the state. In 2010, Texas sent a demand letter for $269 million in sales taxes that the state argued should have been collected and remitted for…
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…
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…
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…
Sales tax is often not on the top of a company’s list of priorities. Making earnings projections, payroll, and IRS deadlines loom heavy on the minds of many CFOs and controllers. Sales tax is many times an afterthought, an accrual account on their balance sheet, or not even a thought at all. Often times, a…
