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Sales tax doesn’t often make headlines, but soda taxes, marijuana sales, tampon exemptions, and online sales tax did in 2016. That trend is likely to continue in 2017. The New Year will bring new taxes, new exemptions, and renewed efforts by states to implement internet sales taxes. It will also bring plenty of the usual suspects, like sales and use tax rate changes.
Businesses need to be aware of sales tax changes so that they are charging the right rate. But there may be other effects of sales tax changes on businesses, such as when a sales tax rate increase may encourage customers to purchase in lower-tax locales, for instance.
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This challenge of categorizing goods and services is compounded by advances in technology, which are responsible for such category-straining creations as digital goods and services. In a few short years, for example, technology has changed how we consume our news.
It’s an annual tradition for the President of the United States to pardon a turkey at Thanksgiving. Which president started the trend is up for debate, but White House history dates the first turkey clemency to 1865, when Abraham Lincoln’s son took a liking to a bird intended for Christmas dinner.
Drop shipping can be a big boon for online sellers, especially small businesses that don’t have the funds or space to stock up on and store inventory. With drop shipping, sellers can take orders from customers for an item and then turn around and order that item from a supplier, which then ships it to the customer. The seller doesn’t have to handle the physical item at all, the customer gets his or her order, and everyone’s happy.
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Repost from Avalara What can’t be delivered today? For the [...]
Savvy shoppers know the value of everyday commodities, from the food they eat to the clothing they need and other essentials. They’ve comparison shopped enough to know the reasonable cost of products, and price point is always top of mind. Not everyone approaches shopping this way, but most people appreciate a bargain (does anyone not?). This is one of the main reasons sales exist.
There have been a number of red-letter changes to date in 2016, most notably with respect to state sales tax rates and remote sales tax laws. On July 1, local sales and use tax rate changes will sweep the nation.
Repost from Avalara $24 billion. That’s the amount of uncollected [...]
There are a number of great reasons to file your payroll and business taxes electronically this year. One of the best reasons is to go green. Want to save paper? Of course you do. Who doesn’t?
The biggest barrier to companies automating sales tax is often inertia. Without a shake-up of the status quo, the de facto response is “why change?” or “I’ll get to it later.” It typically takes something significant to get people to pull the trigger on sales tax automation.