3 min read

Responsible Party Laws by State

By TaxConnex on Tue, Apr 14, 2020 @ 11:00 AM

Since the 2018 Wayfair decision, many more businesses are now required to collect and remit sales tax, and they are not prepared.  What these businesses don’t realize is that due to responsible party laws, a business itself is not the only one at risk.  CEOs, CFOs, Directors and other individuals that have influence over a business’s tax and accounting processes can be held personally responsible for any sales tax shortfalls according to personal responsibility laws.

Topics: sales tax compliance sales tax
3 min read

States, Like Businesses, Prepare for a Decline in Revenue

By TaxConnex on Thu, Apr 09, 2020 @ 11:00 AM

Many businesses that were forced to shut down by governments trying to deal with COVID-19 are the very businesses governments rely on for sales tax obligations. And because of this, many state and local taxing jurisdictions are seeing the first signs of revenue shortfalls.  Here’s what we are seeing:  

Topics: sales tax compliance sales tax sales tax news
3 min read

How to Establish a Sales Tax Compliance Process

By TaxConnex on Tue, Apr 07, 2020 @ 11:00 AM

You’ve established you have nexus in multiple states, and understand the taxability of your products and services, now what?

Topics: sales tax nexus sales tax compliance sales tax
5 min read

Despite Deadline Delays, Sales Tax Will Still Be Due

By TaxConnex on Thu, Apr 02, 2020 @ 11:00 AM

As businesses adjust to the new norm of working remotely and managing cash more closely than ever, several states are postponing deadlines for filing and paying sales and use taxes, often waiving penalties and interest. In just a few examples, many states are offering 30-day extensions to file and pay, California is offering extensions of up to three months, and Maryland and Massachusetts have pushed their sales and use tax deadlines to June. (see other tax updates here.) 

Topics: sales tax compliance sales tax sales tax news
2 min read

Estimating Your Sales Tax Exposure

By TaxConnex on Tue, Mar 31, 2020 @ 11:00 AM

You’ve determined nexus to exist for your business and understand that your products or services are taxable, but you’ve yet to comply to sales & use tax rules. What’s next?

Sales and use taxes collected on behalf of the government are considered government funds upon collection. Failure to remit taxes collected to the appropriate jurisdiction is considered a criminal offense – the parties thereto connected (including corporate officers) or contributing to the offense could face fines in excess of 50% of the tax amount…and prison.

Topics: sales tax compliance sales tax
3 min read

Responding to a Sales Tax Audit

By Robert Dumas on Thu, Feb 27, 2020 @ 11:00 AM

It happened.  You received a sales tax audit notice from a jurisdiction.  What do you do?

Topics: sales tax compliance sales tax sales tax audits sales tax filing
3 min read

Drop Shipments - Who holds the sales & use tax responsibility?

By TaxConnex on Thu, Jan 30, 2020 @ 11:00 AM

Drop shipments are more prevalent in today’s marketplace than most realize –many purchases made online today are commonly drop-shipped to consumers, transactions that typically involve multiple states and parties. Navigating the application of sales and use taxes and related exemptions in a drop shipment scenario is tricky for both the retailer and the drop-shipper. 

Topics: sales tax nexus sales tax retail
2 min read

Determining Sales Tax Nexus for your Technology Company

By TaxConnex on Tue, Jan 28, 2020 @ 11:15 AM

Technology companies frequently engage in sales tax nexus creating activities without realizing it.  Many different activities can create “nexus”, the link that establishes the need for a seller to adhere to the jurisdiction’s sales tax rules.  And with the introduction of economic nexus in 2018, it has become even more confusing.

Topics: sales tax nexus sales tax sales tax calculation
2 min read

Who is NOMAD…or What is it?

By Noelle Ard on Thu, Apr 27, 2017 @ 03:03 PM

I’m often situations where people will ask me to explain what I do.  Once I get the initial “tax” word out of my mouth, and explain that my busy season isn’t coming up…it’s every month, I’ll get some random questions related to state sales tax – who creates it, when is the next sales tax holiday, how did it start, and have I heard of NOMAD?

Topics: sales tax
2 min read

Is Your Sales Tax Compliace On Track?  3 Factors You Need To Know

By Brian Greer on Thu, Apr 20, 2017 @ 10:30 AM

The need for quality sales tax compliance support continues to grow – especially in the small to mid-market business segment.  This is due to a combination of factors including:

Topics: sales tax compliance sales tax
2 min read

EYE ON Nebraska Sales Taxes

By Jeff Meigs on Thu, Apr 13, 2017 @ 10:30 AM

The Nebraska sales and use tax is imposed on taxable retail sale of tangible personal property and certain services.  The state sales and use tax rate is 5.5%.  Local jurisdictions are authorized to impose a sales or use tax on the same base as the state – local rates average 1.4%.

Topics: sales tax sales tax news
2 min read

You Can't Solve Your Sales Tax Problems with Technology Only

By Robert Dumas on Thu, Apr 06, 2017 @ 02:30 PM

I had a sales call this week with a very experienced CFO for a group of start-up technology companies.   Over the course of the last couple of years, this CFO became aware of sales tax responsibilities for some of his companies and had begun building processes to identify prior period exposure and to manage the prospective sales tax compliance process. 

Topics: sales tax compliance sales tax
1 min read

Tennessee TAPS Into A New System

By Noelle Ard on Thu, Mar 30, 2017 @ 02:00 PM

With all the talk about simplifying Arizona (or not simplifying as it seems from a return preparer perspective), Tennessee has slipped in a totally new e-File system that has gone live and boasts the ability to file sales and use tax, privilege tax, tobacco tax, liquor-by-the-drink tax, and television & telecommunications sales tax online.

Topics: sales tax sales tax news
2 min read

Ask a Sales Tax Pro Q&A

By Brian Greer on Thu, Mar 23, 2017 @ 10:30 AM

A colleague of mine and I were recently discussing that there are some common sales tax questions we receive just about every day.  We’ve outlined some of them below:

Topics: sales tax
1 min read

EYE ON Montana Sales Taxes

By Jeff Meigs on Tue, Mar 14, 2017 @ 10:30 AM

Generally, the state of Montana does not impose sales and use tax on purchases of tangible personal property. 

However, effective 2003 Montana legislated a transaction tax on lodging/accommodations, vehicle rentals and telecommunications services.

Topics: sales tax
2 min read

EYE ON Missouri Sales Taxes

By Jeff Meigs on Wed, Feb 22, 2017 @ 10:30 AM

The Missouri sales and use tax is imposed on taxable retail sales of tangible personal property and certain services.  The statewide general tax rate is 4.225%. 

Cities and counties are authorized to impose sales and use taxes for various purposes. These local sales and use taxes are generally imposed in the same manner, on the same subject, and collected in the same way as the state sales and use tax. 

However, in many jurisdictions, the local use tax rate is less than the local sales tax rate.  This is unusual in the world of sales and use tax – in almost all states and local jurisdictions throughout the country, the sales tax rate is the same as the use tax rate.  The average local sales and use tax rate in Missouri is 3.66%. 

Topics: sales tax sales tax news