December 2022 Roundup: Tax laws you need to know

While you focus on your business, we stay on top of legislative and policy changes that can affect your tax compliance.

Does your business need a nexus study? The first step to tax compliance is knowing where you’re required to register for sales tax. But if you do business outside your home state (including sales activity, remote employees, and affiliates), figuring out where you owe can get complicated. A nexus study can help you determine where you have tax obligations. Find out if your business should complete a nexus study.

Making a property tax checklist, checking it twice. Ahh, the last few days of December — a great time to wrap up work projects, spend time with family, and prepare to file property taxes. If you felt like you were scrambling to get everything done ahead of deadlines, take a look at our year-end property tax checklist to double-check your work.

S’more tax complexity in the kitchen. Whether you roast them at a campfire, drop them into hot cocoa, or bake them into treats, we can all agree that marshmallows are a delicious snacking staple. Who would have thought they’d also be the subject of a lengthy court case in the U.K.? Learn about more delicious VAT dilemmas in this Wacky Tax Wednesday post.

VAT, GST, DST? If your software company sells internationally, you need to be aware of the types of taxes you owe around the world. These could include goods and services tax (GST), value-added tax (VAT), and digital services tax (DST). Get the download on all of these types of taxes and where they apply.

A-OK on 1099-K. Come tax season, you might receive an IRS Form 1099-K in your mailbox. This form is to report debit and credit card transactions from third-party network payments, like Venmo and PayPal. Even if you don’t run a business, new reporting requirements mean you may be required to declare your eBay earnings.

New year, new tax rates. A new fiscal quarter usually comes with a flurry of tax rate changes. A new year? Well, that means a blizzard of changes.

Vape taxes can be a bit hazy. More than 30 states across the U.S. currently tax vape products, but that wasn’t always the case. When these products first appeared on shelves, they weren’t regulated or taxed. But since the Prevent All Cigarette Trafficking Act (PACT) was enacted in 2021, e-cigarettes and vaping products are treated similarly to traditional tobacco cigarettes. That means they’re subject to myriad taxes and regulations that vary state to state.

Tax exemptions on line three. Businesses that sell communications products and services need to be able to manage exemptions for different tax types. This includes sales and use tax and more complex communications taxes. Learn more.

Peer into the crystal ball … er, goblet. The beverage alcohol industry is continually bubbling with legislative changes and new trends. Our tax experts share their predictions for the beverage alcohol industry in the coming year.

Check out the Avalara resource center for more helpful information.