State Tax 2016 Archives - FMT
Happy Fiscal New Year! Sales Tax Changes Are Here Again!
Managing sales tax compliance is no easy feat. The tax rates you need to apply can change radically from one state to the next, and even from jurisdiction to jurisdiction. Your products or services may even be taxable for one customer and not for another customer in a different state. Then, you’ve got sales tax holidays, which mean you also have to consider when you’re selling in certain states. As if that’s not complex enough, why not shake things up every now and then as states decide which rates and rules to change? For 46 states, the fiscal new year comes on July 1st each year. That’s also a time when many of them make changes to their sales tax laws. In 2016 – per usual – a long list of new changes has been put in place. For most businesses, it can be hard to find time to research […]
The State of State Sales Tax in 2016
Repost from Avalara The year 2016 has been unpredictable so far. That’s true for politics and it’s true for sales tax. With numerous states desperate for more revenue, sales tax is being broadened, rates are increasing, and exemptions temporarily suspended. Never easy, sales tax compliance is now exceptionally challenging, particularly for businesses selling in multiple states. From coast to coast, state legislators are deliberating difficult issues. What more can be done to collect on untaxed remote sales? Should they increase the state rate? Should sales tax be expanded to traditionally excepted services? Should they eliminate exemptions to generate more revenue, or expand them to stimulate business growth? Each state’s solution will be unique, and each will affect your business in different ways. Internet Tax There’s been a lot of hype around online sales tax this year. With federal lawmakers at an impasse, states are launching a frontal assault on Quill, […]