We know sales tax doesn’t take center stage in your world, but it does in ours. We are always looking for an audience for our expertise. Let us shed some light on sales tax to help you make better decisions in your CPA practice or company with our industry-leading sales tax experts. RECENT TOPICS INCLUDE…
Florida – An annual tax holiday for veterans was proposed in Florida by Democrat Kionne McGhee (HB 279). This tax holiday would run from Nov 1st to December 31st starting in 2016 and would allow veterans to purchase certain items without requiring sales tax. Items would consist of clothing under $100, Shoes, personal computers under $1,500,…
Overview: Many business owners’ face a common question of whether or not to tax their internet-based sales transactions. More commonly businesses are finding themselves in the position of having to address this matter during a sales/tax audit of their company. If your client is an internet-based retailer which sells all over the country through an…
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…
Washington – Both houses of Congress are currently reviewing the Marketplace Fairness Act of 2013.
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…
California – Sales of many seasonal items are taxable, such as Christmas trees and firewood. Purchases of many holiday items are taxable even when purchased from an out-of-state retailer, ex. holiday cards and books. California must pay “use tax” that is due on purchases they make from out-of-state retailers online who do not assess sales…
Texas – Starting January 1 a special registration number will be needed to claim sales tax exemption on purchased taxable products used for production of agricultural and timber products for sale by farmers, ranchers and timber operators. This number is made a requirement by HB 268 which passed earlier this year. Susan Combs, State Comptroller,…
Texas – Internet sales are subject to sales and use tax in the same manner as sales made by any other business. Texas tax applies to taxable items on orders placed on the internet when shipped or delivered to a purchaser in Texas. Online sellers engaged in business must obtain a sales and use tax…
