Posted in State & Local Strategies, Sales and Use Tax

Must Reads For Your Summer Leisure – New York Hits The Shore With A Wave of Sales Tax Bulletins and Advisories

Each year the joy of Summer seems to more quickly pass into the demands of the Fall.  Perhaps your summer, like mine, is a coveted time to catch up on non-technical reading.  However, last week the New York State Department of Taxation and Finance issued approximately 15 Sales Tax Technical Bulletins and several Technical…

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Posted in State & Local Strategies, Corporate Income Tax, Nexus, Personal Income Tax, Sales and Use Tax

States’ Record High Tax Years Beat the Miami Heat To Three-Peat Heaven – What That Could Mean for Multistate Taxpayers

According to the U.S. Census Bureau, state government tax coffers are overflowing. They rose for the third consecutive year to $846.2 billion in 2013, with total state tax revenues increasing by 6.1% over the year before. It’s a safe bet to say states are pleased with their progress and will use every tool in their…

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Posted in State & Local Strategies, Nexus, Sales and Use Tax

Data Mining and Multistate Taxpayers – Welcome to the 21st Century

As budget demands for more revenue intensifies, states are employing sophisticated technology to boost tax dollars –a move which has significant implications for multistate taxpayers. States are increasingly using data mining software to examine current taxpayers, discover new taxpayers, verify taxpayer data, and identify taxpayer inconsistencies.  Coupled with the states’ adoption of aggressive nexus…

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Posted in State & Local Strategies, Nexus, Sales and Use Tax

Is Your Company Determining Its Sales Tax Rate Correctly? Origin vs. Destination Rate Sourcing –The Reason Why Your Company Has Nexus In A State Matters

Understanding the sales tax rate sourcing provisions for states in which you have sales tax nexus is critical in determining the correct sales tax on a transaction.  If you don’t, you could end up charging and collecting the wrong sales tax rate. In general, states employ two sourcing methods, origin and destination.  In states that…

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Posted in State & Local Strategies, Nexus, Sales and Use Tax

The Marketplace Fairness Act Hearings Highlight Diverse Solutions. Is the MFA The Answer to The Wrong Question?

On Wednesday, March 12, 2014, the House Judiciary Committee held hearings on Exploring Alternative Solutions on the Internet Sales Tax Issue.  The Hearings shed new light on the breadth and diversity of the sales tax issues arising from the MFA’s attempt to remedy state tax revenue shortfalls from the retail e-commerce industry.  The Hearing most…

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Posted in State & Local Strategies, Nexus, Sales and Use Tax

The Marketplace Fairness Act Hearings – Why They Should Be On Your Radar

Since the Marketplace Fairness Act may expand any business’ sales and use tax registration, collection and remittance requirements into many additional states, every business, not only e-commerce retailers, should keenly monitor the MFA Hearings scheduled for this week in the House. Recently the House Judiciary Committee rescheduled its hearings on Exploring Alternative Solutions on…

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Posted in State & Local Strategies, Property and Other State/Local Tax Issues, Sales and Use Tax

State Income and Sales Tax Info Requests Get More Demanding – How Ready Are You For an Exam?

State tax exam information requests are increasingly becoming more comprehensive and demanding. We’ve noticed a disturbing trend with our clients who maintain  their records electronically.   States, in their information document requests, are requesting that those businesses supply all transaction data for the entire period covered by the exam; i.e. data regarding every transaction, every check…

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