Sales Tax Blog
New Sales Tax Laws Going into Effect in 2019
Few years have had as big of an impact on how small businesses operate online as 2018. With the landmark US Supreme Court Decision in Wayfair v. South Dakota, economic nexus regulations became the law of the land in dozens of states around country, with many more queued up almost immediately. What this means for businesses that don’t have the infrastructure to manage sales tax collection for an increasing number of states, remains to be seen, but that hasn’t stopped other states from passing or moving forward to implement their own economic nexus laws in the latter half of 2018… Read More
Preparing Your Business for Q4 Sales Tax
This has been a big year for remote retailers. The Wayfair ruling handed down by the Supreme Court in June upended how many people collect and report sales tax in states that previously had laws pending. As we enter the heart of the busiest retail month of the year, it’s imperative that you are prepared not only for the changes Wayfair represents in sales tax collection, but for your Q4 sales and tax withholdings in general. Let’s take a closer look at the steps you can take right now to ensure you end the year ready and organized for the… Read More
Midterm Tax Measure Results for 2018
Every year at the ballot box, there are several tax measures across the country. On average, about half of those measures will pass, impacting residents in a variety of ways – from new sales tax regulations to levies and property tax increases for local education initiatives. This year was no different, with 18 midterm election tax measures considered on November 6. Let’s take a closer look at which of these passed and what the new laws will mean for affected residents. Michigan Proposal 1 Michigan became the first state in the Midwest to legalize marijuana by passing Proposal 1 by… Read More
Surviving a Sales Tax Audit
There are few five letter words feared by small business owners as much as “audit”. Especially for business owners who have been careful in their processes, recording all sales, logging everything, and maybe occasionally forgetting to document something, it’s frustrating and terrifying to get that notice. But with the right preparation, and a keen understanding of why sales tax and use tax audits occur, and how to prepare for and address them, you can tackle the issue with hopefully a bit less stress. While avoiding a sales tax audit completely is ideal, having a good plan in place can help… Read More
How the Wayfair Decision Creates Extra Burden in NOMAD States
For the 45 out of 50 states that have some form of sales tax, the June Supreme Court decision in South Dakota v. Wayfair, Inc. was a watershed moment – overturning more than 25 years of precedent that kept them from collecting sales tax on online sales from out of state. The original Quill ruling made it so that only companies with a physical presence, or nexus, in the state could be tasked with collecting sales tax on in-state sales. By overturning this ruling and opening the floodgates to states like South Dakota (and more than a dozen others) who… Read More
Why Wayfair Isn’t Really a New Tax
The biggest news in online commerce this year was the June 5-4 decision by the US Supreme Court that overturned the 1992 ruling in Quill v. North Dakota. That previous ruling effectively made it impossible for states to collect sales tax from businesses that did not have a physical presence within their borders. The case, South Dakota v. Wayfair, was a bellwether against which many other states will now measure and adjust their sales tax policies, some of which have already been passed into law and were merely waiting for this decision. But there’s been a consistent habit in media… Read More
Selecting the Right Business Structure for Your Small Online Business
Few decisions will have as big of an impact on the taxes you pay and regulations you must follow as the business structure of your online company. When starting an online business, you should strongly consider consulting with a lawyer for advice as to the best structure. However, you can do some in-depth research beforehand on the topic to get a better feel for the options. You should also not overlook other parts of your business. Thankfully, there are sites like business cost comparison UK that can be of great help in lowering your expenses. Remember, the following information is… Read More
How to Avoid Misclassification of Your Ecommerce Products for Sales Tax Purposes
One of the most complicated aspects of a small business to navigate is taxes, including sales tax. Increasing this challenge is the fact that different types of products each have unique sales tax rates depending on their classification. This is why many ecommerce companies have misclassified products that lead to incorrect sales tax calculations. Here are some reasons why and what you can do about it. Potential Complications of Misclassification Companies that misclassify their products and charge the incorrect sales tax may face customer complaints and serious problems if an audit occurs. It can also result in time-consuming efforts to… Read More
How E-Commerce Companies Can Use Instagram to Drive Sales
With 800 million monthly active users, Instagram has a built-in audience for e-commerce companies. The social media network only sits behind Facebook and YouTube when it comes to monthly users, and it only trails Facebook in daily users. Instagram users don’t just look at pictures. Many have deep pockets, and they are more than willing to spend that money. Sixty percent of Instagram users find new products on the site. That’s no surprise when you consider that Instagram has the highest follower interaction rate of any social media network, if you are going to be working with influencers be sure… Read More- « Newer Posts
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