Rhode Island has made a major change to its annual sales tax reconciliation filing requirements for the tax year 2023 and beyond. Sales Tax permit holders are no longer required to submit the annual Sales and Use Tax Reconciliation Return (Form T-204R-Annual). Instead, a new form called Form RI-STR has been introduced, aligning Rhode Island's tax form with neighboring states and allowing taxpayers to reconcile sales periodically throughout the year.
Read MoreThe following is directly from the Alaska Municipal Sales Tax Program Quarterly News. “All digital goods and services delivered into ARSSTC jurisdictions should be assessed sales tax (following tax-exempt rules for entities). Digital goods and services include the categories listed below.”
Read MoreNew Jersey’s tax agency has announced its alignment with the Multistate Tax Commission’s (MTC) guidance on the application of PL 86-272 for income taxes. NJ is the second state behind California to adopt the MTC guidance on the federal level.
Read MoreThe state of New Jersey has enacted a corporation business law to update the corporation business tax nexus standard and update and amend other areas of corporate business law.
Effective for any periods ending on or after July 31, 2023, corporations deriving receipts from sources in New Jersey will now be deemed to have nexus if the corporation meets either of the following criteria:
Read MoreOn 8/1/2023 Louisianna will be removing its 200 transaction threshold. The $100k threshold will remain and will be the only economic threshold in LA. We are seeing more and more states move in this direction which is a positive trend for taxpayers. However, while this is a positive trend roughly 40% of states still have the 200 transaction threshold. Making it unwise to disregard across the board.
Read MoreOn 7/1/24 MN with put into effect a retail delivery fee with an exemption for small businesses under $1,000,000. We currently believe the $1 million is total sales and not just sales into MN, but we will be confirming. Among other things, retailers (including out-of-state retailers and marketplace providers) are subject to a $0.50 fee on each transaction that is $100 or more and involves a retail delivery in Minnesota. The fee applies once per transaction, regardless of the number of shipments needed to deliver the purchased items. The threshold for marketplaces is $100,000.
Read MoreThe Washington Department of Revenue has revised its excise tax rules on tax registration and the small business B&O tax credit. The department may relieve a taxpayer of its requirement to file returns and place them on the active nonreporting status if they meet the following conditions:
Read MoreThe State of South Dakota has revised its economic nexus provisions. Effective July 1, 2023, the state is removing the "200 or more separate transactions" threshold from the law for out-of-state remote sellers.
Read MoreIowa just did away with quarterly sales tax filings so now you will either be a monthly or annual filer. The determining factor is whether you have collected more or less than $1200 in sales tax during the previous year. If more, then you will be monthly. If less, then you will be annual.
Read MoreEffective July 1, 2022, Colorado imposes a retail delivery fee on all deliveries by motor vehicle to a location in Colorado with at least one item of tangible personal property subject to state sales or use tax.
Read MoreThe state of Illinois has announced that beginning July 1, 2022, grocery items that are normally taxed at the 1% sales and use tax rate will instead be taxed at a 0% rate. This will continue for one year, until the end of June 2023. How does this affect tax on nutritional supplements?
Read MoreEffective January 1, 2023, Oklahoma will broaden the scope of marketplace facilitators.
Read MoreLegislation that is set to take effect on July 1, 2022, amends the definition of digital products by including some additional examples of items that do not constitute taxable digital products.
Read MoreAuditors use the best information available to estimate a taxpayer’s liability, and states can be strict when it comes to statutes of limitations. It's the taxpayer’s responsibility to ensure that accurate and updated information is on file with the department.
Read MoreSometimes exemptions are not just at the point of sale. For example, in Washington, a biogas company is liable for failing to collect tax on sales to a renewable energy producer even if the sales were subject to an exemption. Find out why and how this may be applicable to you.
Read MoreKansas has introduced a bill that is phasing out their state sales tax on groceries.
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