Depending on the tax, Texas taxpayers may be required to electronically report (file) and/or pay based on the amount reported and paid in the preceding state fiscal year (September 1 to August 31). Filing/Reporting Due Dates Returns filed with Webfile must be submitted by 11:59 p.m. Central Time (CT) on the due date. Paper returns…
Maryland – The state of Maryland has passed legislation that would impose a tax on a specifies digital products and codes effective July 1, 2020 The bill, which passed both houses of the Maryland General Assembly last week, has been sent to the governor. Retail Sale Would Include Digital Products “Digital products” are delivered electronically…
CALIFORNIA: Gov. Gavin Newsom on Thursday called for letting small businesses keep up to $50,000 in sales tax receipts for the next 12 months as the pandemic has forced many businesses to close their doors. “No fines, no penalties will be attached, where they can take upwards of $50,000 as a loan and not have…
NATIONAL – Due to the impact of the COVID-19 Virus on businesses, many states have had to implement new state tax filing guidelines for individual and business tax filers. New York state, which is currently under a Statewide Shelter in Place waived penalties for late filing, late payment, and underpayment penalties for business and excise…
How we’re responding to COVID-19 At Davis Davis & Harmon LLC, we consider the safety and well-being of our clients and team members to be paramount. Our service and leadership teams have been closely monitoring the global spread of COVID-19 and have been making proactive adjustments to our operations in order to ensure the continued…
Multistate – Almost two years after the Supreme Court’s Wayfair decision, most companies know by now that states can require remote sellers with no physical presence to collect sales tax. The taxability of specific items and sales tax exemptions vary by state, so many companies are struggling to determine which items to collect tax on and…
The newly enacted economic nexus laws have businesses scrambling to figure out how the Wayfair vs. South Dakota supreme court decision applies to their transactions. Accordingly, Texas recently published, Texas Tax Responsibilities and Resources, to provide some guidance to remote-sellers. Below is an excerpt of the publication: “As part of our Wayfair implementation, amendments to Rule 3.286, concerning Seller’s…
MULTISTATE – The Tax Foundation has released its 2019 State Business Tax Climate Index. This Tax Climate Index is made up of 5 major components. Individual Taxes Corporate Taxes Sales Taxes Property Taxes Unemployment Insurance Taxes In this blog, we’re discussing how states rank on sales taxes. 25.3% of each state’s overall score is determined…
Davis Davis & Harmon LLC, participated in the National Association of Black Accountants, Inc. (NABA) Annual Western Region Student Conference held on October 11-13, 2018 in Dallas, Texas. Deon Harmon, CGO of Davis Davis & Harmon spoke on the Moss Adams Tax Panel to discuss careers in sales/use tax. Davis Davis & Harmon, LLC is…
In our last blog we discussed the rules regarding tax exempt purchases by and to tax exempt organizations. When it come to collecting sales tax, tax exempt organizations are required to collect and remit sales tax for all taxable items sold. A sales tax exemption is for purchases and does not cover sales. As with…
