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.
August 26, 2014
An airline is looking into coming to Idaho to set up a maintenance facility in Boise that would create 100 new jobs with salaries of close to $50,000 a year, Idaho's state commerce chief says, in part because of a new tax incentive law.
August 25, 2014
Kansas Secretary of Revenue Nick Jordan told Wichita Republicans Friday that the state's system for giving sales tax exemptions to charities is too political -- and politics will probably keep it from getting changed.
August 21, 2014
Business taxes account for 44.9% of all state and local taxes.
August 19, 2014
Many companies know the cure for the payroll blues (implementing the right technology), but now there's also a cure for the sale tax blues. Watch and learn, then take a look at the automated sales tax solutions from Avalara.
August 12, 2014
The first thing you should do NOW, and the one thing you should not do, at least not yet.
July 31, 2014
Accounting professionals who specialize in helping their small business clients stay compliant with State and Local Taxes (SALT), often need spcific informaiton that may behard to find. Here’s a brief list of websites that can provide useful tools and information for these professionals: SBA: Learn about your state and local tax obligations:http://www.sba.gov/content/learn-about-your-state-and-local-tax-obligations NOLO – 50-State...…
July 12, 2014
Earlier this year, the Texas state legislature voted to create a sales tax holiday that will coincide with the back-to-school time frame. The state has had a back-to-school sales tax holiday each year since 1999.
June 30, 2014
As a part of CPA Practice Advisor's ongoing series, "A Year in the Life of a SALT Accountant," Dallas-based Peisner Johnson LLP offered some key advice to accountants and their small business clients when it comes to activities that can cause them to be exposed to unexpected sales and use taxes in jurisdictions where they…
June 25, 2014
On January 28, 2013, the Maryland Court of Appeals found an important element of the Maryland income tax unconstitutional. The controversy surrounds the state’s disallowance of credits against the Maryland county-level income tax for taxpayers who pay income tax to other states. The US Supreme Court has agreed to hear the state Comptroller’s appeal in…