Sales Tax Hot Topics

07/31/24 • 34 min

It Depends: A Sales Tax Podcast by TaxConnex

Almost 6 years post Wayfair Decision, most businesses at least understand the potential to have a sales tax obligation and have a way to manage their obligations, even if it’s not fully or how they want to do it. But having a sales tax compliance process and understanding your obligation is not a set it and forget it type of business operation. Sales tax rules and regulations continue to evolve and at times become even more confusing.
In this episode, Jeff and Brian dig into some recent hot topics or changes that you need to be aware of as you manage your ongoing sales tax compliance.

We'll cover:

Retail delivery fees
Taxability of Marketing/Advertising
Evolving Nexus Rules
- Local Economic Thresholds
- Alaska talks of adopting State-wide sales tax
- Disappearing Transaction Thresholds
...and more!

Brian - Chief Revenue Officer, Partner at TaxConnex
https://www.linkedin.com/in/brian-greer-55b7364/
Jeff - Consulting Practice Leader, Partner at TaxConnex
https://www.linkedin.com/in/jeffrey-meigs-14a76521/
https://www.taxconnex.com/

We'll cover:

Retail delivery fees
Taxability of Marketing/Advertising
Evolving Nexus Rules
- Local Economic Thresholds
- Alaska talks of adopting State-wide sales tax
- Disappearing Transaction Thresholds
...and more!

Previous Episode

Strategies for Managing a Sales Tax Audit

For many businesses, an audit is one of the most intimidating things that can happen. But the reality is, thousands of businesses are audited each year, sometimes for no reason at all. In this episode, we're covering how to manage the sales tax audit process and you'll learn a few things to keep in your back pocket, just in case you find yourself in the hot seat.

Next Episode

Navigating Sales Tax Exemption Certificates for Your Business

In its most basic form, a sales tax exemption certificate alleviates a company from collecting and remitting sales tax on certain products and services. The most common exemption is “sale for resale,” which allows businesses to purchase products free of tax. Other exemptions can apply to special entities, including government organizations and nonprofits.
The purchaser has the responsibility for determining whether they are exempt or not and obtaining a valid exemption certificate. But, it is the job of business to validate and maintain these exemption certificates in order to not be held responsible for not charging sales tax leaving your business with the responsibility of paying the tax to the state if assessed under audit. So how do you manage this?
In this episode Jeff and Brian cover:
- The differences between exemptions and exclusions
- What forms are needed to qualify
- Industry specific examples
- Best practices for exemption certificate management