In 1992, Connecticut introduced Special Notice 92(19) following the conclusion of the Quill case. However, the state has now revoked this special notice, bringing about implications for businesses operating remotely. Connecticut enacted an affiliate nexus law in 2011, which led to Amazon collecting sales tax in the state from November 2013.
The comprehensive report released by the Council on State Taxation (COST) evaluates and grades each state's taxation policies based on fairness and efficiency, offering crucial insights for multi-jurisdictional businesses dealing with sales and income tax. By examining the rankings, businesses can gain valuable information for future development strategies.
If you've been contemplating online sales for your business, 2014 presents a prime opportunity to start selling online. With the complexity of online sales tax, driven by ever-changing laws and potential federal legislation, it's only a matter of time before it becomes a prominent issue in e-commerce.
As we bid farewell to the past year and welcome the New Year, it's essential for businesses to stay updated on the changes in sales tax filing. January 1st marks the implementation of various sales tax amendments, and for smooth transitions, automation proves invaluable.
While losing weight may dominate New Year's resolutions, it's time to give sales tax management the attention it deserves. Making sales tax resolutions might not be as glamorous as fitting into a new outfit, but it can greatly benefit your business and reduce stress levels.
Alabama continues to implement sales tax changes, with the introduction of the ONE SPOT system and updates to the nexus regulations. Our software seamlessly integrates with ONE SPOT, simplifying the filing process and enabling businesses to complete their filings in record time.
After a year of diligently keeping up with numerous sales tax law changes, sales tax managers deserve a well-deserved vacation. However, the thought of pending sales tax filings and potential disruptions may dampen the holiday spirit. Fortunately, there are steps you can take to ensure a smooth process while you're away.
Effective cash flow management is crucial for businesses, and sales tax plays a significant role in this aspect. Many accounting and tax managers overlook the impact of sales tax on cash flow, but it's an area that deserves attention. One of the major culprits behind cash tie-ups is sales tax overpayments.
In the realm of sales tax, understanding the distinction between items that are classified as an exemption and non-taxable is crucial for setting up effective processes. Exemptions and non-taxable items often confuse clients, prompting the need for clarification.
As the end of the year approaches, it's important to prioritize reviewing your nexus to ensure compliance with sales tax regulations. Nexus, which varies from state to state, determines where your business has a tax presence and can create complexities. Conducting a thorough review allows you to identify potential nexus triggers and address any sales tax concerns.
Sales tax management can be challenging due to the complexities involved, such as varying tax rates and intricate rules determining taxability. Understanding the intricacies of your sales tax system and identifying the areas of complexity is essential for effective management.
The recent refusal of the Supreme Court to hear Amazon and Overstock's appeal against a New York state ruling on sales tax collection for internet sellers has reignited the debate about online sales tax. The Marketplace Fairness Act, the pivotal law in the debate, has prompted campaigns from both sides to influence the decision.
When sales tax management inhibits growth, it becomes crucial to assess your current procedures for scalability. Expanding your business, whether through online sales or opening new locations, may strain your existing sales tax management model.
To stay on top of sales tax news, it's crucial to utilize various resources. The Sales Tax DataLINK Blog and Newsletter offer valuable updates, rounding up relevant content to keep readers informed. LinkedIn groups focused on sales tax, such as Sales Tax Cafe, provide active discussions and news from experts in the field.
Illinois closes a sales tax loophole, prompting businesses to update their sales tax practices. The recent Illinois Supreme Court case ruling emphasizes that sales tax should be based on the location of delivery rather than where the purchase is accepted.
End-of-year sales tax reports provide valuable insights for businesses, allowing leaders to make informed decisions for the upcoming year. Analyzing sales tax numbers helps identify trends and areas for improvement in sales tax management.
Looking to cut down on sales tax filing time? Follow these time-saving tips to streamline the process. Working with sales teams to ensure accurate and complete information from the start reduces the need for corrections later on.
Wondering if there is a sales tax busy season? The frequency of sales tax filing depends on the number of retail sales your company conducts during the filing period. While higher sales volumes may increase the filing frequency, reaching a threshold amount stabilizes the number of required filings per year.
Utah's controversial sales tax bill, known as House Bill 300, aims to incentivize remote sellers by offering them a portion of the sales tax collected. The law, effective from January 1, 2014, raises questions about its potential to attract remote sellers and generate revenue for the state.
A recent hikie in Mexico's sales tax hike, raising VAT from 11% to 16%, has led to an increase in business for American border towns like El Paso. The price disparity, coupled with the nearly double sales tax difference compared to Texas, has attracted Mexican consumers to shop in the United States, particularly in preparation for the Christmas season.
BlogEdwin Flores2023-11-03T08:37:15-05:00
