Sales Tax August 2, 2022
U.S. Sales Tax Reached All-Time High
Historically, over the past 60 years, it has been shown that during adverse economic cycles, the sales tax provides a much more consistent method of funding relative to the income tax.
Taxes June 30, 2022
The Evolution of Nexus and its Implication for Income Tax
Although Wayfair was strictly a sales tax case, states have also begun to assert economic nexus for income tax purposes. Unlike sales tax, currently only a handful of states...
June 21, 2022
In-Store Retail is Making a Comeback
More than half of consumers surveyed now prefer to find new products in-store rather than online, according to a new report by 5WPR. They enjoy speaking with sales people, getting their hands on products, and simply basking in the in-store ambiance ...
Sales Tax June 21, 2022
Brick-and-Mortar Companies Face Challenges Selling Online
More than half of consumers surveyed now prefer to find new products in-store rather than online, according to a new report by 5WPR. They enjoy speaking with sales people, getting their hands on products, and simply basking in the in-store ambiance that was closed to them for a time due to COVID-19. Likewise, more than 75% of…
June 14, 2022
Wayfair Continues to Deal Out Complexity with Marketplace Laws
Four years ago this month, the Supreme Court of the United States rocked the world of retail with its ruling on South Dakota v. Wayfair, Inc. (June 21, 2018). The decision allowed states to tax remote sales — those made by businesses with no physical ...
June 11, 2022
What Brick-and-Mortar Businesses Need to Know About Compliance
Automating compliance tasks can help brick-and-mortar retailers thrive in new situations.
May 19, 2022
How to Protect a Business as Sales Tax Audits Surge
From a tax revenue perspective, many states fared well during the pandemic. Now, however, with supply-side pressure and inflation concerns, states are anticipating a significant reduction in sales tax revenue.
May 3, 2022
6 Tips for CPAs Advising VC-Backed Startup Clients
Startups have unique needs and requirements, and startup founders face complex accounting and tax situations such as venture capital due diligence, cash flow management, compensation issues, and more. As CPAs it’s an exciting opportunity to provide ...
April 22, 2022
Building a Next-Gen Sales Tax Practice
Chris Vignone, with 25 years of public and private sector sales tax experience, founded PM Business Advisors to specialize in state and local taxes, federal taxes, and strategic planning. As sales tax issues grew more complex, he saw increasing demand ...
February 4, 2022
A Look into the Tax Department of the Future
By focusing on the shifting responsibilities of the tax workforce along with the integration of tax technology, businesses can plan for the tax department of the future.
January 26, 2022
States Look at Taxing the Metaverse, But What is It?
Sales transactions are presumed taxable in states with a sales tax (unless there’s a specific exemption or exclusion), most states haven’t yet clarified which sales tax laws apply to sales made in the metaverse. When will they start?
January 18, 2022
Tennessee Starts Accepting Sales Tax Exemption Certificates from Other States
The policy change results from the repeal of Tennessee’s Sales and Use Tax Rule 96, which required Tennessee suppliers to collect Tennessee sales tax on products sold to out-of-state dealers unless such dealers provided a Tennessee resale ...