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 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%.
Read More 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
Read More 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.
Read More November 21, 2013 5 min read
sales tax on recreational marijuana sales tax on recreational marijuana When Colorado and Washington voters approved the legalization of recreational marijuana, tax analysts weren’t sure how the state governments would tax these sales. This month, Colorado voters decided that sales tax on recreational marijuana should be higher than on normal
Read More October 29, 2013 5 min read
Oregon sales tax Despite challenges there may someday be an Oregon sales tax Oregon is only one of five states in the United States that doesn’t have a sales tax. In a recent interview, Oregon Governor John Kitzhaber said that he hopes to change that one day. Right now, Oregon
Read More October 28, 2013 6 min read
sales tax trouble sales tax trouble Staying compliant with sales taxes can be a challenge. You need to keep track of different sales tax rates across the country, deal with constantly changing rules and exemptions, and make sure to remit your collected taxes and return on-time.
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