Preparing for Multi-State Income Tax Returns in 2021

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...

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How Sales Tax Remittance Impacts the Business Sale Process

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...

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Louisiana’s Economic Nexus Law Explained

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...

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Sales Tax on Rentals and Leases of Tangible Personal Property

Sales Tax on Rentals and Leases of Tangible Personal Property

Summary: This blog discusses the state-by-state intricacies of sales tax in regards to rentals and leases of tangible personal property. Please Note: If you are renting or leasing vehicles, machinery, heavy-duty equipment, or lodging, then this blog post is not for...

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How to File and Pay California’s Annual LLC Fee

How to File and Pay California’s Annual LLC Fee

Summary: Any LLC doing business in California that has over $250,000 in gross income attributable to California must pay an annual LLC fee. Although this tax is not technically a gross receipts tax, the amount due is based on gross income attributable to California....

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States with No Sales Tax

States with No Sales Tax

Summary: This blog identifies 5 states with no sales tax and what that really means.  What is sales tax and why is it imposed?  That is a good question. Sales tax is basically a tax that is imposed by the government to help raise revenue.  Currently, there are...

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Free Resource: The ULTIMATE Sales Tax Checklist

This guide breaks down the process of getting compliant in 5 simple steps.

 

This is a great resource if you're starting to figure things out on your own.

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