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...
State-by-State Guide: Statute of Limitation Periods for Sales Tax Audits
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...
State-by-State Guide: How to Get a Sales Tax 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...
State-by-State Guide: 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,...
CBD Sales Tax State-by-State Guide: 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...
Should Your E-Commerce Business Get a Sales Tax Permit in Puerto Rico?
Summary: A mix of considerations, getting a sales tax permit in Puerto Rico is not as straightforward as it sounds. Read on for more information about the business decisions involved and whether it makes sense for your company to get a sales tax permit in Puerto...
Louisiana’s Economic Nexus Law Explained
Summary: Louisiana's economic nexus bill, effective July 1st, 2020 requires out-of-state businesses without a physical presence to register to collect and remit sales tax if they have over $100,000 in sales of tangible personal property, products transferred...
States Where Sales Tax Notice and Reporting Requirements Still Matter (Regardless of Economic Nexus Thresholds)
Summary: Even if your business has not crossed economic nexus thresholds, some states have sales tax Notice and Reporting Requirements with significant penalties. You can protect your business by registering for a sales tax permit if you’ve crossed the Notice and...
