Tax returns for income tax are required to be filed only once a year, whereas sales tax requires compliance throughout the year. This necessitates corporations, small business, and entrepreneurs to maintain documentation to ensure compliance with sales tax rules constantly. After this discussion, you will be able to walk away equipped with knowledge of how…
Multi-state – Netflix is a new platform that has revolutionized the way we watch movies and consume media. In addition to Netflix, consumers utilize various platforms such as Dropbox, Hulu, Tidal, Spotify, Apple Music, and Pandora to receive and stream original content. “States are constantly faced with the challenge of administering taxes and keeping pace…
Virginia – A bill has passed exempting all Virginia jails food sales to inmates from sales tax. This bill came about due to an online service which allows inmate families to purchase meals for their incarcerated family members. No sales tax was collected subsequently which led to a huge tax liability for the Virginia jails. The new bill exempting inmate meals…
Overview: Many companies are focused on new product offerings, growing the business, and expanding into new territories. Have you determined how your business growth impacts your sales/use tax outlook? · Starting a new division of your business? · Launching a new product or service line? · Expanding your business into a new territory? · Attending…
TEXAS – Shoppers, upcoming break from state and local sales and use taxes on purchases of certain energy efficient products May 28-30, 2016. 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 • Dishwashers…
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…
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…
Texas – State sales tax revenue had a total of 2.32 billion in April, up 3% compared to April in 2015. State Comptroller Hegar said, “Growth in sales tax revenue was led by remittances from the retail trade and construction sectors. As expected, receipts from oil and gas-related sectors continued to fall due to the…
Davis & Davis LLC is hosting their 6th annual Suit Drive benefiting Metrocrest Services from May 2nd to May 31st. Drop-off your gently used business suits, ties, separates, shoes, purses, and other accessories at our office and we will take care of the rest. We accept both men’s and women’s professional apparel. Metrocrest Services will…
Our May 6th Speaker Series has been rescheduled to Thursday, June 9th. Overview: Many companies are focused on new product offerings, growing the business, and expanding into new territories. Have you determined how your business growth impacts your sales/use tax outlook? · Starting a new division of your business? · Launching a new product or…
