Sales and use tax

Tax

Business Tax Index 2008 ranks state tax systems

With April 15, "Tax Day," just behind us, the Small Business & Entrepreneurship Council (SBE Council) has published the "Business Tax Index 2008: Best to Worst State Tax Systems for Entrepreneurship and Small Business," ranking the states according to the costs of their tax systems for small business start up and growth.SBE Council President & CEO Karen Kerrigan said, "Entrepreneurs and small businesses have to struggle every day with the costs of taxation, which affect a wide array of decisions, including hiring, investment, expansion, and location.
Tax

Indiana homeowners benefit from new tax law while sales tax increases

A new tax restructuring plan in Indiana cuts property taxes for homeowners while giving them more control over the rates of increases in the future.Gov. Mitch Daniels signed the tax package on Wednesday to lower property taxes and raise the sales tax from 6 to 7 percent effective April 1. Homeowners will get an average 30 percent property tax cut, starting with May bills.House Speaker Pat Bauer told the Louisville Courier-Journal that millions of people were afraid of property taxes costing them their home.
Tax

State tax comparison seen as key factor in choosing a retirement destination

With tax season rapidly approaching, many people planning their retirement are wondering how their retirement income will be taxed if they move. Also, what other taxes will they have to confront in their new location.Depending on where you choose to live, your tax bill may affect your ability to enjoy the lifestyle you are seeking. Some states are more tax-friendly to retirees than others.Helping to sort all this out is a Web site run by the Retirement Living Information Center.
Tax

Toronto must pay for tax campaign

The City of Toronto, Ontario, hoping to raise taxes by imposing a new one cent tax on municipal services, has so far generated a cost to the city of nearly $50,000.In an effort to bolster enthusiasm for the tax increase last fall, city officials launched a city-wide campaign, complete with posters, bumper stickers, buttons, and a catchy slogan: "One Cent of the G.S.T. NOW." Promotional items showed an image of the Canadian penny. The promotion included a dedicated telephone number (416-ONE-CENT) and Web site (www.OneCentNow.ca).
Tax

Tax comparison: Best states for business

The Tax Foundation has released its 2008 State Business Tax Climate Index. The Index ranks how "business friendly" the 50 state tax systems are, providing a roadmap for state lawmakers concerned with keeping their states tax competitive.Keeping a state competitive in today's global market can be difficult, but there is one factor lawmakers have direct control over: the quality of state tax systems.
Practice Management

Personal liability for sales tax - not just for corporate officers anymore!

Are you a "responsible party" party when it concerns the collection and remittance of your company's sales tax? Most corporate accounting and finance people would respond to this question by saying "I don't know" or "I'm not an officer of the company, so how can I be personally liable?" If you answered "I don't know" you may want to find out for sure. If you believe that only corporate officers can be personally liable, guess again.
Tax

Shoppers in fourteen states prepare for sales tax holidays

Residents of at least fourteen states and the District of Columbia can look forward to purchasing clothing, school supplies, and computers within certain price limits without having to pay state sales tax during tax holidays next month. Anyone can take advantage of the tax breaks, but the sales are intended to coincide with the re-opening of schools. The National Retail Federation estimates that the average family with school-age children will spend $563.49 this year on back-to-school supplies and clothing.
Tax

Cigarette taxes go up while gas and sales tax rates remain stable

Many smokers are feeling a greater squeeze on their wallets as more states increase cigarette taxes, while most states have held the line on gas and sales tax rates over the last year, according to CCH, a Wolters Kluwer business and a leading provider of tax information, software and services. As part of its annual survey of consumption taxes, CCH takes a look at gasoline, cigarettes and sales tax.
Tax

Washington State joins Streamlined Sales Tax Project

The State of Washington is the latest to join the Streamlined Sales Tax Project (SSTP), a coalition of now 22 states that have agreed to work together to modify sales tax rules in their respective states for purposes of allowing retailers to collect sales tax on Internet sales made to out-of-state purchasers.Washington's membership in the SSTP will go into effect on July 1, 2008, but retailers in the state can begin collecting sales tax under the program immediately.
Tax

IRS chooses CCH to provide sales tax data

While the memory of filing tax returns seems all too fresh in our minds, the Internal Revenue Service has already begun to prepare for the upcoming tax filing season. The IRS has again selected CCH to provide the sales tax data for use by all taxpayers who file a 1040 tax return. This marks the third consecutive year that CCH has been chosen by the IRS as its selected provider of sales tax information. CCH, a Wolters Kluwer business, is a leading provider of tax information, software and services (www.CCHGroup.com).
Tax

IRS Site Adds New State Sales Tax Calculator

A new online tool has been added by the Internal Revenue Service (IRS) to assist individual taxpayers in determining if they would benefit if they elect to deduct their state and local general sales tax when filing their returns. "The Sales Tax Calculator is another interactive tool the IRS.gov web site designed to help make it easier for taxpayers to figure their taxes," said Mark W.
Tax

Congress May Extend Sales Tax Deduction This Week

If the House of Representatives and the Senate do not extend the sales tax deduction during the final days of the lame duck session, residents of the seven states that do not levy personal income tax, who itemize their deductions, will see an increase in federal tax owed for 2006.
A&A

Seamless Sales Tax Solutions

A new offering from CCH, Sales Tax Load Utilities for Sage Software, integrates CCH supplied sales and use tax rates with Sage’s leading accounting systems, including MAS 90, MAS 200, MAS 500 and Accpac.
Tax

Alliance Brings Automated Sales Tax Compliance to the Midmarket

“Sales tax administration and compliance presents an ongoing operational and audit burden to most businesses,” according to Jared Vogt, CEO of Avalara, a provider of innovative and affordable sales tax solutions for small and midsized businesses (SMB).At this week’s Federation of Tax Administration (FTA) 22nd Annual Technology Conference and Exhibition, Avalara and Epicor Software Corporation, a leading provider of enterprise business software solutions to the global mid-market, announced an alliance whereby Epicor will integrate and offer Avalara’s full line of sales tax solutions,
Technology

Sales Tax Holiday Weekend a Big Hit with Shoppers

Shoppers in ten states and the District of Columbia flocked to stores and malls last weekend to take advantage of “sales tax holidays” timed to benefit back-to-school-shoppers. Two more states, Connecticut and Maryland, have scheduled sales tax holidays during the third week of August. In most states, the tax holiday applies to moderately priced clothes, school supplies and in some states, to computers.
Tax

Attention Shoppers: 13 States Announce Sales Tax Holidays

Sales tax holidays are growing in popularity this year with four more states joining nine other states and the District of Columbia in waiving sales and use taxes for a limited time during July and August. The waivers may not include all items and local sales taxes may still apply in some locations."This is an excellent opportunity for working families, single parents and anyone else who needs a break to buy essentials and back-to-school items.
A&A

Sales tax compliance costs hit hard on SMBs

In what offers the faint hint of another area where accountants can assist small and midsized (SMB) clients, a government and business study has found that the costs of complying with state sales tax regulations is a financial burden for all retail businesses and hits especially hard on the smallest.
Community News

TaxWare's Charles Collins Discusses Internet Sales Tax

Charles Collins manages Taxware’s relationships with taxing authorities and legislative bodies and is a frequent speaker on state and local tax issues. He was employed by the North Carolina Department of Revenue for 32 years before coming to his current post, serving as the Director of the Sales and Use Tax Division for his last ten years there. While there, he also served as the Assistant Director of the Audit and Collection Division. Collins served as Co-Chairman of the Streamlined Sales Tax Project (SSTP) for two-and-a-half years.
Tax

Top Ten Most Unusual U.S. Sales Tax Laws for 2006

After reviewing the latest tax laws from across the nation, First Data Corporation and www.taxware.com Taxware’s team of domestic and international tax experts has compiled a list of the ten craziest sales and use tax laws in America for 2006. They are:10. West Virginia, where American Independence is celebrated with a special tax on sparklers and other novelties, in addition to the state’s regular 6 percent sales tax.9. Kentucky’s thoroughbred stud fees are subject to sales tax (that would be thoroughbred horses).
Tax

Cities, States Float Sales Tax Ideas

Taxpayers around the country are facing a mixed bag of state and local sales tax proposals.New York Governor George E. Pataki, for one, is proposing tax breaks and rebates amounting to billions of dollars, but when it comes to sales taxes, he is calling for at least one increase, the New York Times reported. State cigarette taxes outside New York City would go up to $2.50 from $1.50 per pack.

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