It has started to get darker later and temperatures are heating up! Yay love this time of the year. Change in season means time to reorganize and declutter your closets. That means there will be some old clothes you no longer want and some clothes that may not fit anymore. Wouldn’t it be great to…
Florida – The Florida sales and use tax exemption for industrial machinery and equipment previously scheduled to expire on April 30, 2017, has become permanent. Effective July 1, 2016, the exemption for machinery and equipment was expanded to include: Recycling industries classified under code 423930 of the North American Industry Classification System (NAICS) (2007) and…
State legislatures were busy in 2016 making changes to sales and use taxes. There were 556 sales and use tax changes at the state, local and county level, based on the annual Sales Tax Rate Report per Vertex, Inc. California lowered its rate from 6.5 to 6.25 percent; however, taxpayers saw no change in their…
Louisiana’s state’s sales tax increased from four pennies to five pennies per dollar April 2016. According to the Tax Foundation, a nonprofit tax policy research organization, the combined average state and local sales tax businesses collect in Louisiana is 9.99%. That easily secures Louisiana at the top spot in the nation for highest average sales…
Pennsylvania – From April 21 through August 17, the Pennsylvania Department of Revenue Tax will waive all penalties, collection and lien fees and one-half of the interest due for businesses that file delinquent tax reports and pay all taxes due, or amend reports that underreported taxes and pay the taxes due. Reports originally due to…
Starting today, the retail giant Amazon.com will begin collecting sales tax on its sales in South Dakota. This change was brought on by South Dakota’s newly enacted economic nexus legislation Senate Bill 106 requiring certain out-of-state businesses without a physical presence in the state to collect and remit tax on South Dakota transactions. This is…
MULTI-STATE- Making extra money by renting out a spare bedroom or an entire home has gotten increasingly easier, thanks to online listing services such as Airbnb and Homeaway. The increase in popularity of such services has given rise to unforeseen tax liabilities and consequences. Homeowners are often unaware that they must collect and remit hotel…
Multi-State – Sales tax requires compliance throughout the year. This necessitates corporations, small business, and entrepreneurs to maintain massive amounts of documentation to ensure compliance with sales tax rules constantly. With that in mind, we came up with a quick list of a few facts that you may not already know. Click the slider to…
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…
