State and Local Taxes

February 12, 2015 

If you move to Puerto Rico, you can retain your U.S. citizenship while saving taxes, not an option in some other so-called tax havens. Although the tropical island is just a little more than 1,000 miles from Florida, it might as well be halfway around ...

February 9, 2015 

If you or your clients are new to collecting and paying sales tax, the process might seem overwhelming. Once you have determined that taxable sales are occurring, the next step is to prepare yourself for being a sales tax collector and remitter.

Gail Perry

January 26, 2015 

While the average U.S. sales tax rate remained unchanged in the fourth quarter, the number of indirect tax changes increased from the previous quarter, according to the latest ONESOURCE Indirect Tax report from Thomson Reuters.

November 7, 2014 

Once the elections are over, we expect Congress will finally get busy focusing on sales tax legislation. But that's only part of the excitement here at the magazine. It's that time of year when accountants have a bit of time to spare before they ...

Gail Perry

November 5, 2014 

The Multistate Tax Foundation (MTF) recently issued its 2015 State Business Tax Climate Index report, a benchmarking report that enables state governments and others to compare their tax systems with other states. Ideally, those states that rank ...

Gail Perry

October 14, 2014 

[This is part of a special series of articles designed to maximize tax benefits and minimize tax pitfalls at the end of the year.] The alternative minimum tax (AMT) is often referred to as a “stealth tax” because it sneaks up on unsuspecting taxpayers. But you’re not doing your job well if your clients are caught...…

Ken Berry, JD

October 10, 2014 

While almost everyone has heard of sales tax, many business owners are unaware that most states have a “use tax.” State laws treat sales and use tax as two separate taxes, but in reality they act in concert to complement each other.

October 10, 2014 

You probably know the income, sales, and use tax rules in your own state and local jurisdictions without having to do much research. But what if a new client walks in the door and presents you with a tax situation in a state where you have not practiced b

Gail Perry

September 23, 2014 

A Northwest Arkansas software company earlier this month received one of only 15 sales tax-related patents ever issued by the U.S. Patent and Trademark Office.

September 12, 2014 

The sales and use tax audit could possibly be one of the biggest challenges that your business clients will face. If you are working with a client who has been selected for an audit, you are now tasked with proving that the client remitted the correct amount of sales tax to the state Department of…

September 12, 2014 

Historically, a business' gross revenues follow seasonal patterns and even a small change in gross revenue should result in a small change in the associated accounts. In an attempt to discover why one established contractor was selected for audit, I reviewed their sales tax filings and created the below table.

August 29, 2014 

State tax collections fell short of expectations by $281 million last year, providing potential difficulties in the future for the state budget and immediate fodder for this fall's tight governor's race.