April 2024 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.

Nuts and bolts

Grocery exemptions Sooner or later. In Oklahoma, groceries are currently subject to both state and local sales and use taxes. But starting in August 2024, House Bill 1955 will eliminate the state sales tax on groceries (though local taxes will still apply) in the Sooner State. Find out what counts as “food and food ingredients” in this short, easily digestible blog post.

TBH, you need a TEI ROI study. Are you getting the most bang for your buck when it comes to your sales tax software? You might not know until you read a return on investment (ROI) study. We look at the benefits of reviewing an ROI study and what you can discover with something like a Forrester Consulting Total Economic Impact™ (TEI) study.

Grand plans in the Grand Canyon State. Right now, it’s possible for a business to be audited by more than one jurisdiction in Arizona at a time. Thanks to a bill passed in March 2024, the Arizona Department of Revenue can prevent a local jurisdiction from auditing a business for transaction privilege tax (TPT) when the business operates in another city or town in Arizona. Read the specifics of HB 2380, including when it will take effect.

Your business might be a marketplace if … Does your business facilitate sales or showcase other sellers? Does it collect payment from purchasers and transmit the payment to independent sellers? Your business may be a marketplace! Find out what that means for sales tax.

Exempt ecommerce challenges. If your business makes sales-tax-exempt transactions, you’re likely familiar with how complicated the process is — especially if you sell online. We look at why some taxable transactions are sales tax exempt, what to do when the seller or customer is exempt, and how to validate sales tax exemptions.

Avalara Tax Changes: Marketplace edition. Online marketplace sales are expected to reach nearly 35% of all U.S. ecommerce by 2027. Keep up with the latest tax changes and trends for online marketplaces.

Add to cart. Marketplaces are becoming popular options for sellers and consumers alike — where else can you get specialty hot sauce in bulk, a sweater for your dog, and a grocery subscription all in one order? If you’re considering selling through Fulfillment by Amazon (FBA) or other marketplaces, there are a few things you should know first.

Exemption exhaustion. One of the trickier parts of tax compliance is managing exempt sales and exemption certificates. We dive into the challenges businesses like yours face — and how we can help you overcome them — in this post.

STR → LTR in HI? How do you solve a housing crisis? The Hawaiian Legislature is trying to do it with tax incentives. Governor Josh Green has vowed to sign into law any bill that would transform short-term rentals and vacant investment properties owned by nonresidents into housing for locals. Learn more about HB2416/SB3105.

20 years of taxes. The last 20 years have brought us new and exciting legislation, taxability and technology trends, and of course — weird and wacky taxes. We rounded up some of the wackiest tax moments of the last 20 years.

The future of business is high tech. We teamed up with Hanover Research to survey accounting, tax, and finance professionals about their finance and tax departments’ top challenges and priorities, and how technology is helping. Get the download.

M-I-S-S-I-S-S-I-P-P-I sales tax H-O-L-I-D-A-Y. Each year, the Magnolia State provides a back-to-school sales tax holiday, during which time some purchases of clothes and school supplies are tax exempt. The Mississippi Legislature is making some changes to the holiday this year.

From the accounting tax desk

W-9? Why not? Businesses that send a lot of W-9 and 1099 forms might benefit from accounting advisory services, especially in the coming years. That’s where client advisory services (CAS) practices come in — learn best practices for W-9s, how automation can enhance security, and more.

From the property tax desk

A property tax solution that’s just right. Property tax can be particularly complicated if you don’t have a dedicated tax team, as is the case for many small and midsize businesses. We break down some of the challenges smaller businesses face and how a dedicated software solution can help.

From the other end of the line

Hello, communications taxes? It’s for you. Communications taxes come calling at inconvenient times — when your business has implemented new technology like streaming, IoT, and cloud services. Learn what else counts as “communications taxes,” what makes them so complicated, and where you can find help managing them.

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