Tax News

Online commerce provides the ideal environment for wholesale transactions and drop-shipments.  You can literally have no employees or inventory – just a website and you are in business.  BUT – if you are the wholesaler, every sale you make is considered a retail transaction by taxing authorities, and is subject to applicable sales tax, unless and until ...

As 2023 comes to an end, lets recap a few important sales tax changes and offer insight into what taxpayers can expect for 2024:

·      Economic Nexus Transaction Counts – Initially, more than half of the states adopting economic nexus thresholds included a transaction count element as part of the threshold, meaning that a remote seller would ...

ARE YOU READY?

It’s no secret that states are running the most significant budget shortfalls in the Post-WWII era. As a remedy, they can either raise tax rates, increase the base, add more taxes, or heighten enforcement. Clearly the most pragmatic thing, and least politically problematic thing to do is heighten enforcement. And the ...