Will Online Advertising Create Sales Tax Nexus? State-by-State Guide
What is Sales Tax Nexus? Sales tax nexus is a substantial connection between a business and a state which would require the business to collect sales tax. Typically and historically, sales tax nexus has been established by a company’s physical presence in the...
How to Cancel Your Sales Tax Permit Account in Each State
Jump Ahead to Individual State Instructions for Canceling Your Sales Tax License: Alabama through Hawaii Idaho through Louisiana Maine through Missouri Nebraska through Pennsylvania Rhode Island through WyomingSee which states pose the greatest risk to...
Sales Tax Compliance For Startups
Summary: In this post, we discuss what sales tax compliance is, why you need it, and how you can strengthen and protect your startup with a robust sales tax plan.There’s no way around it: taxes are complicated and cumbersome — especially for startups doing business in...
How to Get a Voluntary Disclosure Agreement (VDA) in Each State
What is a Sales Tax Voluntary Disclosure Agreement (VDA)? A VDA is a Voluntary Disclosure Agreement between you and the state which attempts to bring you into compliance with the state. A VDA can cover a variety of taxes, but for the sake of this blog, we will only...
Sales Tax Statute of Limitation Periods for Audits (State-by-state Guide)
Summary: Each state has a defined lookback period they use when examining a sales tax audit and assessment. Most states’ statutes of limitations do not apply in the event of fraudulent behavior or evasion.How Far Back Can I Owe Sales Tax? If you’re concerned about...
Top Multi-State Income Tax CPAs for Businesses in 2021
Summary: This blog post will provide you with TaxValet's vetted partners who specialize in multi-state income tax returns and apportionment.You Need A Multi-State Income Tax Specialist In recent years, states have increasingly been going after out-of-state...
Preparing for Multi-State Income Tax Returns in 2021
Summary: If you remit sales tax in a state, you might owe income tax in that state as well. Check with your CPA to determine if you owe income tax in a state to avoid substantial penalties later on.It's that time of year when it is important to contact your CPA...
How to Comply with Puerto Rico’s Notice and Reporting Requirements
Summary: This blog post will provide you with the information and access to the tools you need to comply with Puerto Rico’s Notice and Reporting requirements. Does Puerto Rico Have Economic Nexus Requirements? As of the publication of this blog, Puerto Rico does not...
How to Get a Resale Certificate in Each State
What Is a Resale Certificate? A resale certificate is a tax form that you can provide to your supplier in order to purchase inventory tax-free (assuming you are reselling the inventory to customers, of course!). This means that if you have the proper documentation,...
How Sales Tax Remittance Impacts the Business Sale Process
Summary: If you’re ever planning on selling your business, you can protect your business’s future valuation by collecting and remitting sales tax now. A messy sales tax picture can slow or even stall the sales process, or even result in a reduced...
Which States Require Sales Tax on Vitamins and Dietary Supplements?
Which States Require Sales Tax on Vitamins and Dietary Supplements? Determining which states require sales tax on vitamins and dietary supplements is not always a straightforward process. Although states differ in the definition of dietary supplements and vitamins,...
Which States Require Sales Tax on Cannabidiol (CBD)?
Which States Require Sales Tax on Cannabidiol (CBD)? Thankfully, sales tax on Cannabidiol (CBD) is pretty straightforward. Most states allow you to sell CBD products as long as they are properly labeled and meet other requirements (like being extracted from hemp...
