Zip2Tax Blog Page 14

Sales and Use Tax News Blog

Mississippi firearms sales tax holiday proposed

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
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Tennessee counties seek share of online tax collections

February 26, 2014 5 min read

County commissioners throughout the state of Tennessee are waking up to the fact that they aren’t seeing their share of online tax collections from newly collected sales taxes from online giants like Amazon.
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The new year brings new hope for sales tax relief

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
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Planning for sales taxes when you close a business

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
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Minnesota governor wants to use budget surplus

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
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North Carolina residents prepare for expiration of sales tax exemptions

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
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Federal sales tax deduction set to expire

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
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How to pay your sales taxes

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.
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Sales tax concerns when buying an existing business

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.
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Higher sales taxes in Mexico creating more business for American retailers

November 27, 2013 5 min read

Higher sales taxes Higher sales taxes American retailers are starting to see a sales boost thanks to a higher sales taxes in Mexico. Mexican lawmakers voted to increase the sales tax rate for Mexican states on the U.S. border. They increased the sales tax rate from 11% up to 16%.
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Rhode Island state commission considers reduction of state sales taxes

November 25, 2013 5 min read

reduction of state sales taxes reduction of state sales taxes The Rhode Island General Assembly has put together a committee to consider a reduction of state sales taxes or completely repeal its 7% sales tax rate. The government created this commission in response to a new bill that proposes to
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Congress may find common ground over sales taxes

November 25, 2013 5 min read

sales taxes sales taxes On Oct. 1, 2013, the United States reached its borrowing limit and the government shut down. This left many business owners scratching their heads. After all, it’s one thing to see a local business shut its doors when it can’t afford to go further into debt.
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