Living anywhere in the United States means paying all sorts of taxes, from income tax to sales tax, and indeed, the struggle for US independence began largely because of a dispute over taxes levied on colonists by the British government. Taxes play an important role in the functioning of our society, of course, as they…
For kids, it can be very exciting to save up allowance or birthday money and then take it to the store to buy a toy they’ve been eyeing for weeks. But it can also be confusing when they get to the register and find that the total cost is more than the price that was…
Except for in five states, customers in the US will pay sales tax on many goods and services they purchase. Even in those states without a statewide sales tax, certain items are still taxed, and local governments may be allowed to impose their own sales taxes if they wish. Of course, there’s a reason that…
If you operate a business selling taxable goods or services, you almost certainly need to collect sales tax from your customers. However, sales tax rates and regulations vary a great deal from state to state, and this can become even more complicated if you sell in multiple states or ship items from one state to…
Have you ever heard the term “regressive tax”? Maybe not. It refers to a tax that is unfairly imposed more strongly on lower income families. Is Sales Tax Regressive? You may be wondering: is sales tax progressive or regressive? Sales tax is regressive, in fact. Why? Because people who earn less pay a larger percentage…
It’s July, and here in Florida, like many places, it’s HOT outside. Like, unbearably hot. It doesn’t take more than a few minutes outside before you start feeling thirsty. Try going for a bike ride or run, and about 5 minutes in, you’ll start actually fantasizing about a tall glass of ice cold H2O. Water…
Problems can occur when retailers wrongly believe they are exempt from a sales tax. Today we’ll look at 9 common sales tax myths that can get retailers in trouble. Retailers with an ecommerce presence have a lot of responsibilities on their plates, especially the tasks of properly tracking and applying sales tax and filing annual,…
For international companies that sell products to U.S. customers, American sales and use tax laws can be complicated. International vendors may believe that they are exempt from these taxes when they are not, or they may think the U.S. tax model resembles the VAT. These companies can find themselves liable for uncollected taxes, penalties and…
All across the U.S., states have been making changes to tax code in an effort to bring in more revenue. This has led to some very strange taxes and exemptions being put into place, as well as weird rulings from the Tax Court. First up, these 10 examples of the weirdest sales tax laws can…
While many retailers are focused on the flood of consumers turning to online vendors to purchase goods, they may not be aware of the fact that some states are trying to pass budgets and legislation to remove exemptions for service providers, in some or all areas. This is because sales taxes revenues are falling in…