March 24, 2014 5 min read
Marketplace Fairness Act Update Marketplace Fairness Act Update Marketplace Fairness Act Update: On March 12, the House Judiciary Committee held a hearing to consider alternative proposals to the Marketplace Fairness Act (MFA), which passed the Senate with overwhelming support in May of 2013. The House hearing entitled “Exploring Alternative
Read More March 24, 2014 5 min read
taxability of software taxability of software While most tangible personal property has sales tax applied when money changes hands between a business and an end user, software sales are taxed or exempted based on less tangible factors. The taxability of software is treated much differently from state to state. In
Read More February 28, 2014 5 min read
free tax courses Minnesota sales tax exemptions State sales and use tax basics signups now available The Minnesota Department of Revenue will be holding a series of free tax courses designed for accountants, bookkeepers, business owners and purchasing agents to help them meet their tax obligations and improve their knowledge
Read More February 27, 2014 5 min read
tax renovation tax renovation A Kentucky tax proposal that could significantly raise revenue has been sent to the state’s Appropriations and Revenue Committee of the House of Representatives. It has been suggested that the tax renovation, known as Kentucky Competes, could raise as much as $210 million more annually for
Read More February 26, 2014 5 min read
Mississippi tax holiday Mississippi tax holiday Mississippi’s Senate and House both passed differing versions of a bill creating a sportsman’s sales tax holiday. While the bills vary widely on what will be eligible for exemption, they both agree that the sales tax holiday will cover firearms and various hunting accessories
Read More February 01, 2014 5 min read
sales tax relief sales tax relief In a turnaround to trends seen early this decade, 2014 may be kicking off with faint signs that legislation and court rulings could favor U.S. commerce for once by bringing sales tax relief. The U.S. Supreme Court ruling in Daimler AG v. Bauman found
Read More January 30, 2014 6 min read
close a business close a business If you need to close a business, you need to make sure the shutdown goes smoothly and doesn’t create problems for you later on. One point you need to address are the final sales taxes for your business. This process is pretty straightforward and
Read More December 23, 2013 5 min read
sales and income tax cuts sales and income tax cuts The Minnesota government’s budget numbers have added up to more than a billion dollar surplus for the year. While $246 million dollars needs to be used to pay off IOUs to state schools, the government will still have roughly $800
Read More December 20, 2013 5 min read
North Carolina sales tax exemptions North Carolina sales tax exemptions On January 1st, 2014, a number of sales tax exemptions are set to expire in North Carolina. Next year, residents will need to pay the normal 4.75 % state sales tax rate on mobile homes, chiropractic supplements, and tickets for
Read More December 19, 2013 5 min read
Taxpayers could get squeezed if state and local sales tax deduction ends Taxpayers who itemize their deductions for their federal tax return could lose a significant tax benefit in 2014. They currently get a deduction for any state and local sales taxes that they paid throughout the year. However, this
Read More December 19, 2013 5 min read
After you’ve diligently collected sales taxes from your customers, you need to then transfer that money to the government. This is generally a straightforward process as the government wants to make it easy for you to send over its revenue.
Read More November 27, 2013 5 min read
Sales tax concerns Sales tax concerns If you’re looking to take over an existing business, it’s important to prepare for the transaction ahead of time. There are several sales tax issues that can come up both during the purchase of the business and when you start running your new company.
Read More
